Triplex with Private
For Sale
$729,000
355 Palmer Avenue, Falmouth, MA 02540
MULTI_FAMILY - Falmouth, MA
Property Size1,876 SF
Lot Size0.52 Acres
Price / SF$388.59
Days on Market31
Property Features for 355 Palmer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
GR
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 3
Parking features
Driveway
Exterior features
Private Yard
Basement
Partial
Appliances
Water Heater
Elementary school district
Falmouth
Middle school district
Falmouth
High school district
Falmouth
Directions
Rte 28 to Palmer Ave
Subdivision
Falmouth
Standard status
Active
APN
FALM M:0038 B:0004 L:0003
Size
1,876 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3534
Utilities
Sewer type
Septic Tank
Heating system
Oil
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
1
Flooring type
Vinyl, Carpet
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
(508) 540-9800
Listed By:
O'Neill Group
(508) 524-7325
Added: Jul 13
Changed: Aug 11
Last Checked: Aug 12 at 2:06AM
MLS# 22603379
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 three-unit residential triplex includes six bedrooms and three full bathrooms, with a basement and additional storage. The home is set on a 0.52-acre lot and features private yard space. Interior finishes include carpet and vinyl flooring, and the property has an oil heating system. Exterior improvements include shingle siding and an asphalt roof, with a water heater on site.
The property is served by public water and a septic tank. Off-street parking is available via a driveway, with parking for 4–6 vehicles.
Built in 1940, the 1,876-square-foot building offers a versatile layout for residential use and tenant configurations.
The property is served by public water and a septic tank. Off-street parking is available via a driveway, with parking for 4–6 vehicles.
Built in 1940, the 1,876-square-foot building offers a versatile layout for residential use and tenant configurations.
Key Highlights
- Three‑unit triplex with 6 bedrooms and 3 full bathrooms
- 0.52‑acre lot with private yard space
- Parking for 4–6 vehicles via driveway
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
$41,819
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
5.74%
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%
$836,380
$836.4K
Cap Rate 7%
$597,414
$597.4K
Cap Rate 9%
$464,656
$464.7K
Market Conditions
NOI Build-Up for 1,876 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
$61.9K $33.00/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$59.7K $31.85/SF
− OpEx
−$17.9K −$9.55/SF
NOI
$41.8K $22.29/SF
Area
Barnstable County, MA
Vacancy
3.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
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%
$836,380
Cap Rate 7%
$597,414
Cap Rate 9%
$464,656
Alternative Uses
Best Use
Multifamily LT 5
$597.4K
$522.7K – $697.0K
NOI $41,819 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,592 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,514 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with a private yard, oil heat, and parking for 4–6 vehicles.
Where is this triplex located?
The property is located at 355 Palmer Avenue Falmouth, MA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Three‑unit triplex with 6 bedrooms and 3 full bathrooms; 0.52‑acre lot with private yard space; Parking for 4–6 vehicles via driveway
