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

    694 Chelmsford St Lowell, MA 01851-5101

    • Office buildings
    • 1,947 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0959227
    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

    • Underwood Sales / Manufacturer

    Property Details for 694 Chelmsford St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    1,947 SF
    Zone code
    TMU
    Property type
    Office buildings
    APN
    LOWE M:127 B:1190 L:694
    APU
    LOWEM127B1190L694

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $321,000
      Market price range: $189k - $321k
      AI Estimate
      $224,000
      Market price range: $119k - $225k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $255,000
      Current use
      AUTO REPAIR, GARAGE
      $295,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $295,000
      Change: +15% Conversion: Moderate
      WAREHOUSE, STORAGE
      $285,000
      Change: +10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $240,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3237
    Latitude
    42.6211
    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
    $7,854
    $178,500
    $159,000
    $337,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $230,000
      3,760 SF

      1613 Middlesex St

      OFFICE BUILDING • 3,760 SF
      1613 Middlesex St, Lowell, MA 01851-1113
      View Details
    • Value Estimation
      $265,000
      2,526 SF

      1550 Middlesex St

      OFFICE BUILDING • 2,526 SF
      1550 Middlesex St, Lowell, MA 01851-1147
      View Details
    • Value Estimation
      $345,000
      3,600 SF

      1184 Westford St

      OFFICE BUILDING • 3,600 SF
      1184 Westford St, Lowell, MA 01851-2852
      View Details
    • Value Estimation
      $280,000
      2,740 SF

      508 Westford St

      OFFICE BUILDING • 2,740 SF
      508 Westford St, Lowell, MA 01851-2913
      View Details
    • Value Estimation by Request
      3,200 SF

      219 Chelmsford St

      OFFICE BUILDING • 3,200 SF
      219 Chelmsford St, Lowell, MA 01851
      View Details
    • Value Estimation
      $205,000
      861 SF

      703 Chelmsford St

      OFFICE BUILDING • 861 SF
      703 Chelmsford St, Lowell, MA 01851-5102
      View Details

    Similar Nearby for Sale

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      Mixed-Use Building in Prime Location

      Mixed-use building with residential and office/retail spaces in Lowell.
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      Lowell Multifamily Portfolio For Sale

      Four-building, 27-unit multifamily portfolio in Lowell, Massachusetts.
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      Renovated Multifamily Townhouse-Style Units

      Completely renovated 6-unit multifamily building with townhouse-style layouts.
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    • $55,000
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      Lowell, MA Business Opportunity

      Established Cambodian Specialty Shop - High Growth Potential
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    • $749,900

      Remodeled Two-Family Home in Lowell

      Remodeled two-family home in Upper Highlands neighborhood, vacant units.
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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
    • $15 SF/Yr
      5,741 SF

      Versatile Office Space Available

      Adaptable office space with modern amenities and ample parking.
      34 Wellman St, Lowell, MA 01851
      View Details
    • $950 /Mo

      Second Floor Corner Office Unit

      Second floor office unit available for rent in Methuen.
      12 Baldwin St, Lowell, MA 01851
      View Details
    • Contact for pricing
      97,686 SF

      Class A Office Space Lowell

      Prestigious office park with modern amenities, convenient suburban location.
      59 Lowes Way, Lowell, MA 01851
      View Details
    • Contact for pricing
      6,896 SF

      Lowell Office Space Available

      Office space available for rent in Lowell, Massachusetts.
      22 Old Canal Dr, Lowell, MA 01851
      View Details
    • $1,950 /Mo

      Retail Space in High-Traffic Location

      Versatile commercial space suitable for retail, office, or specialty businesses.
      692 Middlesex St, Lowell, MA 01851
      View Details
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    694 Chelmsford St
    Lowell, MA 01851-5101
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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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