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Property profile & analytics
FOR SALE
Office buildings
585 Middlesex St, Lowell, MA 01851
Entity Owned
~
Est. High Equity
Property ID
US38-0145444
For Sale
1 / 52
$3,500,000
585 Middlesex St, Lowell, MA 01851
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Property summary
AI-generated overview
This exceptional 1.16-acre parcel of land, located at 585 Middlesex Street in Lowell, Massachusetts, presents a compelling investment opportunity. Priced at $3,000,000, this property offers significant potential for a variety of commercial developments. The expansive lot size provides ample space for construction, allowing for flexibility in design and functionality. Its strategic location within Lowell offers convenient access to major transportation routes, ensuring seamless connectivity for businesses and employees. The property's zoning and permitted uses should be independently verified to ensure alignment with any prospective development plans. Given its size and prime location, this property is well-suited for a range of commercial ventures, from industrial facilities and warehousing to potentially other uses subject to local regulations. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. Detailed site plans and relevant documentation are available upon request. Prospective buyers are advised to conduct their own due diligence to confirm all aspects of the property and its suitability for their intended purpose. This is a rare opportunity to acquire a substantial land holding in a thriving Massachusetts city. Don't miss out on this chance to secure a valuable asset with significant long-term growth potential.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,910 SF
Lot
1.16 ac (50,530 SF)
Zoning code
UMU
APN
LOWE M:140 B:4085 L:585
UPID
US38-0145444
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
-
Nobis Engineering, Inc. Engineering Consultant Civil Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.46M
Blend (final)
Blend
$2.88M
Owner & transaction history
Inatl Inst Of New Eng INC
Inatl Inst Of New Eng INC
since 2025
Last sale
$3.1M
4 recorded transactions
Zoning & alternative use
UMU · Lowell, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.1M
+110.1%
Apartment house (5+ units)
$3.4M
+74.7%
Restaurant
$2.5M
+26.6%
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 Lowell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lowell 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
$2,870,000
ML approach
$2,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,965,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,130,000
Change: +110% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,435,000
Change: +75% · Conversion: Easy
RESTAURANT
$2,490,000
Change: +27% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,290,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,265,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$2,265,000
Change: +15% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,170,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$2.88M
Range $2.59M – $3.17M · ±10% · vs last sale $3.10M (Sep 27 2022)
Last sale anchor
$3.10M
Sep 27 2022
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
$193 / 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
Tax billed
$45,139
Tax year 2024
Assessed value
$1,939,800
Assessed 2024
Previous assessed
$1,100,000
+76.3% YoY
Effective rate
2.33%
On assessed value
Assessed land
$199,600
Assessed improvement
$1,740,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
6
Total area
14,910 SF
Lot
1.16 ac (50,530 SF)
Zoning code
UMU
APN
LOWE M:140 B:4085 L:585
UPID
US38-0145444
Jurisdiction
LOWELL
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
UMU · Lowell, MA
Zoning UMU · permitted uses
UMU · Lowell, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lowell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
RESTAURANT
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.2M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
6
Lot
1.16 ac
Current owner
From public records · entity-resolved
Inatl Inst Of New Eng INC
Entity
Mailing address
37 FARRAGUT RDPH8, BOSTON, MA 02127-1714
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2025
$2,900,000
Inatl Inst Of New Eng INC
Catassistant Presidentult
Deed
$2,030,000 · Eastern Bank
Sep 27, 2022
$3,100,000
Catapult&cannon Props
Nokode Holdings LLC
Quit Claim Arm's Length For Ne States
—
Dec 28, 2007
$558,000
Nokode Holdings LLC
Chen,theodore C
Grant Deed
$1,394,276 · Mhic New Markets LLC
Dec 28, 2007
—
Nokode Hldgs LLC
—
Grant Deed
related
$50,000 · Mhic New Markets LLC
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.
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