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Property profile & analytics
FOR LEASE
Investment properties
23 Lowell St Methuen, MA 01844
Individually Owned
13-yr Hold
Free & Clear
Property ID
US38-0247662
For Lease
1 / 9
$2,000/Mo
23 Lowell St, Methuen, MA 01844
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
2,754 SF
Lot
0.19 ac (8,276 SF)
Zoning code
CBD
APN
METH M:00612 B:00123 L:00001
UPID
US38-0247662
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elegante Salon Hair Salon
-
Catfish SR-22 Insurance Group Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$603k
Blend (final)
Blend
$515k
Owner & transaction history
Richard J Shaheen Irt · 13 yrs held
Richard J Shaheen Irt
since 2013
2 recorded transactions
Zoning & alternative use
CBD · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$660,000
+30.6%
Retail stores
$610,000
+21.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$505,000
Current use
AUTO REPAIR, GARAGE
$660,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$610,000
Change: +21% · Conversion: Easy
OFFICE BUILDING
$465,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$187 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$448,400
Assessed 2024
Previous assessed
$376,000
+19.3% YoY
Assessed land
$136,700
Assessed improvement
$311,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1900
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
2
Units
4
Rooms
4
Bathrooms
5
Total area
2,754 SF
Lot
0.19 ac (8,276 SF)
Zoning code
CBD
APN
METH M:00612 B:00123 L:00001
UPID
US38-0247662
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Methuen, MA
Zoning CBD · permitted uses
CBD · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Methuen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$660,000
RETAIL STORES
Est. value
$610,000
OFFICE BUILDING
Est. value
$465,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
1
Units
4
Rooms
4
Bathrooms
5
Lot
0.19 ac
Current owner
From public records · entity-resolved
Richard J Shaheen Irt
Individual
Free & Clear · 13 yrs held
Mailing address
10 SANDRA LN, NORTH ANDOVER, MA 01845-4612
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2013
—
Richard J Shaheen Irt
Ali Rich RT
Quit Claim Deed
related
—
Dec 15, 2004
$1
Ali-rich RT
Shaheen,richard J
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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