Renovated 12-Unit Apartment
For Sale
$2,350,000
1547 Main Street, Chatham, MA 02633
Commercial Sale, Chatham, MA
Property Size5,547 SF
Lot Size0.78 Acres
Price / SF$423.65
Days on Market138
Property Features for 1547 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
GB3
Appliances
Water Heater
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Directions
Exit 85 and left onto 137. Take 137 to Route 28. Let onto Route 28 and property is about 2.5 miles on right.
Subdivision
Chatham
Standard status
Active
APN
CHAT M:09D B:0005 L:17
Size
5,547 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2766
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall Unit(s)
Water source
Public
Amenities
shared laundry room
Building Details
Year built
1960
Floors in Building
2
Flooring type
Laminate
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Christie's International Real Estate Atlantic Brokerage
(508) 945-6000
Listed By:
Evan Dean
(774) 212-2718
Added: May 1
Changed: Sep 3
Last Checked: Sep 15 at 5:06PM
MLS# 22601891
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,547-square-foot apartment property contains 12 units and is approved by the town for 33 beds. The configuration includes 10 private room units with individual bathrooms, compact kitchenettes, and heating and cooling; a main house with four bedrooms, three bathrooms, and a full kitchen; and an attached two-bedroom apartment with a separate kitchen and bath. A shared laundry room serves the property with three coin-operated washer and dryer sets.
Renovation work completed in 2026 included flooring, plumbing, electrical systems, siding, paint, roofing, landscaping, and laundry improvements. The property sits on 0.78 acres, uses public water and public sewer, and has natural gas heating, wall-unit cooling, laminate flooring, shingle siding, and an asphalt roof. Its Main Street location provides access to the Route 28 bus line, and several leases are already in place.
Renovation work completed in 2026 included flooring, plumbing, electrical systems, siding, paint, roofing, landscaping, and laundry improvements. The property sits on 0.78 acres, uses public water and public sewer, and has natural gas heating, wall-unit cooling, laminate flooring, shingle siding, and an asphalt roof. Its Main Street location provides access to the Route 28 bus line, and several leases are already in place.
Key Highlights
- 12 units approved for 33 beds
- 10 private room units with baths, kitchenettes, and heating and cooling
- Main house includes four bedrooms, three bathrooms, and a full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,152
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,223,040
$2.2M
Cap Rate 7%
$1,587,886
$1.6M
Cap Rate 9%
$1,235,022
$1.2M
Market Conditions
NOI Build-Up for 5,547 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$208.3K $37.56/SF
− Vacancy
−$6.3K −$1.13/SF
EGI
$202.1K $36.43/SF
− OpEx
−$90.9K −$16.39/SF
NOI
$111.2K $20.04/SF
Area
Barnstable County, MA
Vacancy
3.00%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,223,040
Cap Rate 7%
$1,587,886
Cap Rate 9%
$1,235,022
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,152 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,231 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 02633, MA
4,664
Population
5,425
Households
0.9
Avg Household Size
62
Median Age
65%
College-Educated
99%
High-School Grad
8.6 sq mi
ZIP Area
542
Density / Sq Mi
$94,036
Median Household Income
$50,038
Median Earnings
$1,005
Median Rent
$881,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property with private room units, shared laundry, public utilities, and Route 28 bus access.
Where is this apartment building located?
The property is located at 1547 Main Street Chatham, MA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 12 units approved for 33 beds; 10 private room units with baths, kitchenettes, and heating and cooling; Main house includes four bedrooms, three bathrooms, and a full kitchen
