Three-Unit Triplex with
For Sale
$599,900
1 Summerhill Avenue, Worcester, MA 01606
Business-zoned property with hardwood floors, laundry hookups, and separate utility responsibility for each unit.
Property Size3,798 SF
Price / SF$157.95
Days on Market95
Property Features for 1 Summerhill Avenue
General Information
Standard status
Active
Size
3,798 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
BL-1
Net Operating Income
$33,000
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,332
Amenities
hardwood floors
in-unit laundry hook-ups
Building Details
Building Size
3,798 SF
Year Built
1890
Stories
3
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 28
Changed: Aug 30
Last Checked: Aug 30 at 6:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Atlantic Properties
Investment Insights
Based on property information with market context.
This 3,798-square-foot triplex, built in 1890, contains three distinct residential units, each with 3 bedrooms and 1 bathroom. Interior features include hardwood flooring, in-unit laundry hookups, gas heat, gas parlor heaters, and gas kitchen service. The compact rear yard provides outdoor space for gardening, grilling, or shared gatherings. Six deeded off-street parking spaces serve the property, with additional public street parking available.
The property carries BL-1 zoning and is positioned one block from Rt. 12, providing access to shopping and public transportation. Rt. 190, Rt. 290, and Rt. 9 are also nearby. Tenants pay their own gas and electricity, while the landlord pays water, sewer, and the landlord meter.
The property carries BL-1 zoning and is positioned one block from Rt. 12, providing access to shopping and public transportation. Rt. 190, Rt. 290, and Rt. 9 are also nearby. Tenants pay their own gas and electricity, while the landlord pays water, sewer, and the landlord meter.
Key Highlights
- 3,798 SF triplex built in 1890
- Three separate 3‑bedroom, 1‑bath units
- 6 deeded off‑street parking spaces
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
$51,199
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
8.53%
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%
$1,023,980
$1.0M
Cap Rate 7%
$731,414
$731.4K
Cap Rate 9%
$568,878
$568.9K
Market Conditions
NOI Build-Up for 3,798 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
$98.0K $25.80/SF
− Vacancy
−$4.9K −$1.29/SF
EGI
$93.1K $24.51/SF
− OpEx
−$41.9K −$11.03/SF
NOI
$51.2K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /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%
$1,023,980
Cap Rate 7%
$731,414
Cap Rate 9%
$568,878
Alternative Uses
Best Use
Multifamily LT 5
$796.8K
$697.2K – $929.6K
NOI $55,775 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$731.4K
$640.0K – $853.3K
NOI $51,199 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,738 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Business-zoned property with hardwood floors, laundry hookups, and separate utility responsibility for each unit.
Where is this triplex located?
The property is located at 1 Summerhill Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 3,798 SF triplex built in 1890; Three separate 3‑bedroom, 1‑bath units; 6 deeded off‑street parking spaces
