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Property profile & analytics
FOR LEASE
Office buildings
650 Suffolk St, Lowell, MA 01854
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US38-0951608
For Lease
1 / 2
$6,425,000
650 Suffolk St, Lowell, MA 01854
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1884
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
147,760 SF
Lot
1.9 ac (82,764 SF)
Zoning code
INST
APN
LOWE M:136 B:5560 L:650
UPID
US38-0951608
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
-
Karen J. Stevens, PHD Physician
-
Prometric Test Center Business Service Center Corporate Office
-
Janet S. Olden, LMHC Doctor Counselor
-
Annie Slote, LICSW Pharmacy
-
TRC Companies, Inc. Environmental Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$6.43M
Owner & transaction history
Fortune Wannalancit LLC · 10 yrs held
Fortune Wannalancit LLC
since 2015
5 recorded transactions
Zoning & alternative use
INST · Lowell, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.43M
Range $5.78M – $7.07M · ±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
$43 / 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
$101,992
Tax year 2024
Assessed value
$4,383,000
Assessed 2024
Previous assessed
$4,275,400
+2.5% YoY
Effective rate
2.33%
On assessed value
Assessed land
$328,600
Assessed improvement
$4,054,400
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 Lease
Year built
1884
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
5
Units
1
Total area
147,760 SF
Lot
1.9 ac (82,764 SF)
Zoning code
INST
APN
LOWE M:136 B:5560 L:650
UPID
US38-0951608
Jurisdiction
LOWELL
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
INST · Lowell, MA
Zoning INST · permitted uses
INST · 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.
Building & site characteristics
From public records
Year built
1884
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
5
Buildings
1
Units
1
Lot
1.9 ac
Current owner
From public records · entity-resolved
Fortune Wannalancit LLC
Entity
Mailing address
660 SUFFOLK ST STE #210, LOWELL, MA 01854-3636
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2025
—
Fortune Wannalancit LLC
—
Deed
related
$4,000,000 · Cambridge Savings Bank
Oct 19, 2015
—
Fortune Wannalancit LLC
Fortune Wakefield LLC
Quit Claim Deed
related
$5,000,000 · Miscellaneous Ins Co
Dec 8, 2006
—
Fortune Wakefield LLC
—
Deed Of Trust
related
$5,000,000 · Genworth LLC
Oct 2, 2003
—
Fortune Wakefield LLC
—
Deed Of Trust
related
$4,000,000 · Banknorth NA
Jul 17, 1996
$2,500,000
Emif Calif LP
Debroth,richard
Grant Deed
—
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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