Renovated-Upper-Level
For Sale
$1,150,000
104 Granville Ave, Malden, MA 02148
Three-unit property with varied layouts, a side yard, and off-street parking.
Property Size3,591 SF
Price / SF$320.25
Days on Market33
Property Features for 104 Granville Ave
General Information
Standard status
Active
Size
3,591 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$12,844
Listing Agency:
eXp Realty LLC - Corporate Office
(617) 548-9914
Listed By:
Kenneth Kirk
(617) 548-9914
Source:
Exprealty
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 29 at 2:39PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This three-family property contains a studio, a four-bedroom, one-bath unit, and a bi-level three-bedroom, two-bath unit. The upper level of the bi-level residence has been renovated with a new bathroom, hardwood flooring, and a spiral staircase. The property also includes a large side yard and approximately four off-street parking spaces.
Located in Malden, the property offers access to public transportation, major highways, and downtown Boston. Units 2 and 3 are scheduled for delivery vacant, providing flexibility for the next owner’s occupancy or leasing plans.
Located in Malden, the property offers access to public transportation, major highways, and downtown Boston. Units 2 and 3 are scheduled for delivery vacant, providing flexibility for the next owner’s occupancy or leasing plans.
Key Highlights
- Three‑family property with studio, four‑bedroom, and bi‑level three‑bedroom units
- Bi‑level unit includes two bathrooms, including a newly renovated upper‑level bath
- Renovated upper level with hardwood floors and spiral staircase
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
$75,987
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
6.61%
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%
$1,519,740
$1.5M
Cap Rate 7%
$1,085,529
$1.1M
Cap Rate 9%
$844,300
$844.3K
Market Conditions
NOI Build-Up for 3,591 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
$114.2K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$108.6K $30.23/SF
− OpEx
−$32.6K −$9.07/SF
NOI
$76.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,519,740
Cap Rate 7%
$1,085,529
Cap Rate 9%
$844,300
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$949.8K – $1.27M
NOI $75,987 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$1.02M
$893.1K – $1.19M
NOI $71,449 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,810 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
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 - Three-unit property with varied layouts, a side yard, and off-street parking.
Where is this triplex located?
The property is located at 104 Granville Ave Malden, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑family property with studio, four‑bedroom, and bi‑level three‑bedroom units; Bi‑level unit includes two bathrooms, including a newly renovated upper‑level bath; Renovated upper level with hardwood floors and spiral staircase
