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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    494 Westford St Lowell, MA 01851-2582

    • Retail space
    • 3,720 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0845446
    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.

    Current Use by Public Records

    • Mill City Pizza / Restaurant
    • Mill City Vape / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
    • Coinsource Bitcoin ATM / Atm
    • ATM / Atm
    • mill city convenience / Grocery & Convenience Store

    Property Details for 494 Westford St

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.29 lot acres
    Property size
    3,720 SF
    Zone code
    TMU
    Property type
    Retail space
    APN
    LOWE M:104 B:6285 L:494
    APU
    LOWEM104B6285L494

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $598,000
      Market price range: $326k - $801k
      AI Estimate
      $356,000
      Market price range: $184k - $517k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $565,000
      Current use
      AUTO REPAIR, GARAGE
      $565,000
      Change: +0% Conversion: Difficult
      WAREHOUSE, STORAGE
      $540,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $490,000
      Change: -13% Conversion: Easy
      COMMERCIAL (GENERAL)
      $460,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3335
    Latitude
    42.6339
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $10,939
    $146,500
    $323,600
    $470,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,075,000
      8,775 SF

      1815 Middlesex St

      RETAIL STORES (PERSONAL SERVICES) • 8,775 SF
      1815 Middlesex St, Lowell, MA 01851-1107
      View Details
    • Value Estimation
      $530,000
      3,774 SF

      525 Chelmsford St

      RETAIL STORES (PERSONAL SERVICES) • 3,774 SF
      525 Chelmsford St, Lowell, MA 01851-4408
      View Details
    • Value Estimation
      $620,000
      8,415 SF

      460 Chelmsford St

      RETAIL STORES (PERSONAL SERVICES) • 8,415 SF
      460 Chelmsford St, Lowell, MA 01851-4447
      View Details
    • Value Estimation by Request
      7,509 SF

      915 Pawtucket St

      RETAIL STORES (PERSONAL SERVICES) • 7,509 SF
      915 Pawtucket St, Lowell, MA 01851-1254
      View Details
    • Value Estimation by Request
      1,501 SF

      238 Shaw St

      RETAIL STORES (PERSONAL SERVICES) • 1,501 SF
      238 Shaw St, Lowell, MA 01851-4330
      View Details
    • Value Estimation by Request
      2,591 SF

      289 Westford St

      RETAIL STORES (PERSONAL SERVICES) • 2,591 SF
      289 Westford St, Lowell, MA 01851-2518
      View Details

    Similar Nearby for Sale

    • $795,000
      3,774 SF

      Lowell Mixed-Use Investment Opportunity

      Mixed-use property with commercial space and residential unit in Lowell.
      525 Chelmsford St, Lowell, MA 01851
      View Details
    • Contact for pricing

      Vacant Land in Lowell, MA

      Vacant land available in Lowell's lower highlands.
      45 Marshall St, Lowell, MA 01851
      View Details
    • $55,000
      0.56 Acres

      Lowell, MA Business Opportunity

      Established Cambodian Specialty Shop - High Growth Potential
      716 Middlesex St, Lowell, MA 01851
      View Details
    • $749,900

      Remodeled Two-Family Home in Lowell

      Remodeled two-family home in Upper Highlands neighborhood, vacant units.
      138 W Forest St, Lowell, MA 01851
      View Details
    • $699,900

      Highlands Duplex with Income Potential

      Two-unit property in Highlands, ideal for owner-occupancy or investment.
      23-25 Mckinley Ave, Lowell, MA 01851
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    • Contact for pricing

      Renovated Multifamily Townhouse-Style Units

      Completely renovated 6-unit multifamily building with townhouse-style layouts.
      1280 Middlesex St, Lowell, MA 01851
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    Similar Nearby for Lease

    • Contact for pricing

      Interconnected Office/R&D Buildings For Rent

      Three interconnected office/R&D buildings with many amenities available for rent.
      900 Chelmsford St, Lowell, MA 01851
      View Details
    • Contact for pricing

      Historic Building Retail Space Available

      Commercial space in historic building with flexible uses for rent.
      635 Middlesex St, Lowell, MA 01851
      View Details
    • $22 SF/Yr

      Retail Space in High-Traffic Plaza

      Retail space in a vibrant, high-traffic location near Route 3.
      1270 Westford St, Lowell, MA 01851
      View Details
    • Contact for pricing
      658 SF

      Automotive Repair Garage For Lease

      Freestanding automotive repair garage available for lease in Lowell, MA.
      397 School St, Lowell, MA 01851
      View Details
    • $15 SF/Yr
      51,464 SF

      Lowell Retail End Cap Space

      Prime Lowell location, 1,793 sq ft available.
      1270 Westford St, Lowell, MA 01851
      View Details
    • Contact for pricing
      5,741 SF

      Versatile Office Space Available

      Adaptable office space with modern amenities and ample parking.
      34 Wellman St, Lowell, MA 01851
      View Details
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    494 Westford St
    Lowell, MA 01851-2582
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    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
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