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

    701 Merrimack St Lowell, MA 01854-3910

    • Specialty properties
    • 2,770 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 11, 2021
    $500,000
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1574158
    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

    • Vinnie’s / Clothing Store

    Property Details for 701 Merrimack St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.10 lot acres
    Property size
    2,770 SF
    Zone code
    UMU
    Property type
    Specialty properties
    APN
    LOWE M:137 B:4060 L:701
    APU
    LOWEM137B4060L701

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $450,000
      ML approach
      $450,000

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $325,000
      Current use
      AUTO REPAIR, GARAGE
      $420,000
      Change: +29% Conversion: Difficult
      RETAIL STORES
      $420,000
      Change: +29% Conversion: Difficult
      WAREHOUSE, STORAGE
      $405,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $365,000
      Change: +12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $340,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3192
    Latitude
    42.6487
    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
    $0.00
    $109,900
    $0.00
    $109,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $215,000
      0.08 Acres

      802 Merrimack St

      CHARITABLE ORGANIZATION • 0.08 Acres
      802 Merrimack St, Lowell, MA 01854-3532
      View Details
    • Value Estimation
      $205,000
      1.07 Acres

      141 Suffolk St

      CHARITABLE ORGANIZATION • 1.07 Acres
      141 Suffolk St, Lowell, MA 01854-4258
      View Details
    • Value Estimation
      $185,000
      3,826 SF

      278 Emery Ave

      CHARITABLE ORGANIZATION • 3,826 SF
      278 Emery Ave, Lowell, MA 01854-1613
      View Details
    • Value Estimation
      $190,000
      7,481 SF

      812 Merrimack St

      CHARITABLE ORGANIZATION • 7,481 SF
      812 Merrimack St, Lowell, MA 01854-3532
      View Details
    • Value Estimation
      $430,000
      13,794 SF

      536 Pawtucket St

      CHARITABLE ORGANIZATION • 13,794 SF
      536 Pawtucket St, Lowell, MA 01854-3009
      View Details
    • Value Estimation
      $250,000
      7,734 SF

      951 Broadway St

      CHARITABLE ORGANIZATION • 7,734 SF
      951 Broadway St, Lowell, MA 01854-3007
      View Details

    Similar Nearby for Sale

    • $1,250,000
      4,000 SF

      Retail/Office Building For Sale

      Retail/Office building with heavy traffic and ample parking.
      585 Pawtucket Blvd, Lowell, MA 01854
      View Details
    • $749,900
      3,003 SF

      Lowell Triplex Ready for Occupancy

      Spacious three-family residence in Lowell, ready for immediate occupancy.
      89 Mammoth Rd, Lowell, MA 01854
      View Details
    • $130,000
      0.21 Acres

      Established Lowell Market - Turnkey Business

      Iconic 100+ year-old market, ready for expansion.
      175 Salem St, Lowell, MA 01854
      View Details
    • $949,000

      Renovated Multi-Family Near UMass Lowell

      Fully renovated five-unit property near UMass Lowell's North Campus.
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    • $1,050,000
      10,152 SF

      Iconic Olympia Restaurant Property

      Prime Market Street location with excellent visibility and on-site parking.
      455 Market St, Lowell, MA 01854
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    • $825,000
      6,191 SF

      Retail and Warehouse Space Available

      Retail and warehouse space with mezzanine storage and garage access.
      90-92 Hall St, Lowell, MA 01854
      View Details

    Similar Nearby for Lease

    • $500 /Mo
      140 SF

      Shared Office Space Available

      First floor office space with shared amenities for rent.
      463 Merrimack St, Lowell, MA 01854
      View Details
    • $12 SF/Yr

      New Retail and Office Opportunity

      New retail and office spaces available in Lowell, MA.
      408 Suffolk St, Lowell, MA 01854
      View Details
    • Contact for pricing
      29,607 SF

      Renovated Office Space in Lowell

      Historic mill with modern amenities and high-tech capabilities.
      650 Suffolk St, Lowell, MA 01854
      View Details
    • $1,000 /Mo
      1,200 SF

      Retail Space on Mammoth Road

      Retail space for lease on heavily traveled Mammoth Road.
      49-51 Mammoth Rd, Lowell, MA 01854
      View Details
    • $1,900 /Mo

      Downtown Lowell Commercial Storefront

      Two-level commercial space in downtown Lowell, move-in ready.
      450 Merrimack St, Lowell, MA 01854
      View Details
    • Contact for pricing
      43,908 SF

      Office/Light Manufacturing/Warehouse Facility For Rent

      Three-story office/light manufacturing/warehouse facility near I-495 and Route 3.
      1001 Pawtucket Blvd, Lowell, MA 01854
      View Details
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    Lowell, MA 01854-3910
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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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