321 Central St, Lowell, MA for sale

Investment Overview

Northeast Private Client Group, Inc. is pleased to present 321 Central St, a fully leased, four-story office building in downtown Lowell, Massachusetts. Built in 1907 and served by a passenger elevator, the property sits within the city's Hamilton Canal Innovation District — a short walk from the commuter-rail terminal and Middlesex Community College, and 0.4 miles from the new $200 million Lowell Justice Center. The building houses fourteen office and professional-service tenants across compact upper-floor suites — anchored by Insight Behavioral Center and Living Waters Hope, alongside an electrical contractor, independent practitioners, and community and faith-based groups. Every suite sits on a full-service, gross lease, with ownership covering heat, hot water, electric, and water and sewer. Shared amenities — a conference room, tenant library, common kitchen, and rooftop deck — round out the offering. In-place rents sit well below market, and marking the small suites to market as leases turn is the near-term income story. The larger opportunity is entitlement: the property falls within Lowell's MFOM Multifamily Overlay and TOD district, where residential conversion is permitted by right with no parking minimum. That path is reinforced by stacked historic tax-credit eligibility — 20% federal and 20% Massachusetts historic credits, HDIP, and the CCTCI program. 321 Central St offers a fully leased office investment paired with a by-right residential conversion path and stacked historic tax credits — durable in-place income today and a clear redevelopment option tomorrow. It is the kind of downtown asset an investor can hold, mark to market, or convert. All interested and qualified parties will have the opportunity to obtain additional information upon request.

Investment Highlights

• By-Right Residential Conversion
• Stacked Historic Tax Credits
• Steps from the Justice Center
• Full On-Site Amenity Package
• 100% Leased Today