Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    246 Market St Lowell, MA 01852
    Back to Search
    Property profile & analytics

    246 Market St Lowell, MA 01852

    View on Map
    • Commercial real estate
    • 1.00 lot acres
    Off-Market
    Property ID
    US38-2513808
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lowell TeleMedia Center / Television Studio / Media Distribution
    • Lowell Wildlife Removal Pro / Animal Shelter / Pet Adoption Service
    • Childrens Village At the Mill / Social Service Agency / Charitable Organization
    • Lowell National Historical Park / Historical Place / Park
    • Lowell National Historical Park Visitor Center / Tour Operator

    Property Details for 246 Market St

    Year built
    1923
    Lot size
    1.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 246 Market Street in the vibrant city of Lowell, Massachusetts, presents a unique investment opportunity. The property encompasses a full acre of land, offering significant development potential for a variety of commercial ventures. Its strategic location on Market Street provides excellent visibility and accessibility, ensuring high traffic flow and exposure for any business established on the site. The asking price is $2,000,000, reflecting the substantial value and future growth prospects inherent in this prime Lowell location. The property's one-acre size allows for ample space for construction, expansion, or landscaping, catering to a wide range of commercial uses. Given its location in a bustling area of Lowell, this property is ideally suited for businesses seeking a prominent presence in a thriving commercial district. The substantial size of the lot offers flexibility in design and development, allowing for the creation of a custom-built facility tailored to specific business needs. This is a rare opportunity to acquire a significant commercial parcel in a desirable and rapidly developing area of Lowell, MA. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The property is zoned for general commercial use, providing a broad range of permissible activities. Further details regarding zoning regulations and development possibilities are readily available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.31218
    Latitude
    42.64428

    Comparable in this City

    • $999,000

      Prime Lowell AM Radio Station

      Established Broadcasting Facility - High Revenue Potential
      Confidential Way, Lowell, MA 01852
      View Details
    • Contact for pricing
      1,368 SF

      Lowell Commercial Storefront Condo

      Upgraded commercial condo in downtown Lowell with high visibility.
      58 Prescott St, Lowell, MA 01852
      View Details
    • $549,900
      1,632 SF

      Well-Maintained Two-Family Lowell Property

      Two-family property in Lowell with strong income potential.
      18 Pleasant St, Lowell, MA 01852
      View Details
    • Contact for pricing
      4,600 SF

      Retail Investment Opportunity in Lowell

      Historic 4,600 SF building with operating Walgreens and vacant restaurant.
      19 Merrimack St, Lowell, MA 01852
      View Details
    • $849,900
      Pending

      South Lowell Multi-Family Investment

      Well-maintained three-unit property in a convenient Lowell location.
      339 Lincoln St, Lowell, MA 01852
      View Details

    Similar Nearby for Sale

    • $999,000

      Prime Lowell AM Radio Station

      Established Broadcasting Facility - High Revenue Potential
      Confidential Way, Lowell, MA 01852
      View Details
    • Contact for pricing
      1,368 SF

      Lowell Commercial Storefront Condo

      Upgraded commercial condo in downtown Lowell with high visibility.
      58 Prescott St, Lowell, MA 01852
      View Details
    • $549,900
      1,632 SF

      Well-Maintained Two-Family Lowell Property

      Two-family property in Lowell with strong income potential.
      18 Pleasant St, Lowell, MA 01852
      View Details
    • Contact for pricing
      4,600 SF

      Retail Investment Opportunity in Lowell

      Historic 4,600 SF building with operating Walgreens and vacant restaurant.
      19 Merrimack St, Lowell, MA 01852
      View Details
    • $849,900
      Pending

      South Lowell Multi-Family Investment

      Well-maintained three-unit property in a convenient Lowell location.
      339 Lincoln St, Lowell, MA 01852
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lowell Industrial Single Tenant Space

      9,975 SqFt industrial space available for single tenant in Lowell.
      678 Andover St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Retail Space Available on Route 3A

      Retail spaces available with high traffic and signalized access.
      199- Plain St, Lowell, MA 01852
      View Details
    • Contact for pricing
      5,100 SF

      Historic Downtown Office Space Available

      Handicap accessible office space in historic downtown Lowell building.
      40-44 Church St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Industrial Zoned Contractors Yard

      2.55 acre industrial zoned contractors yard for lease.
      266 Plain St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Lowell, Massachusetts.
      55 Church St, Lowell, MA 01852
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    246 Market St
    Lowell, MA 01852
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    246 Market St, Lowell, MA, 01852
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!