Newer-Construction Multifamily with
For Sale
$4,899,000
108 Harrison Street, Haverhill, MA 01830
17-unit multifamily with modern loft-style units, on-site laundry, 32 off-street parking spaces, and separately metered utilities.
Property Size21,200 SF
Price / SF$231.08
Days on Market228
Property Features for 108 Harrison Street
General Information
Standard status
Active
Size
21,200 SF
Total Parking Spaces
32
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
17
Building Details
Year Built
2020
Tenancy
Multi
Listing Agency:
Northeast Development & Investment,Inc.
Listed By:
Andrew Haddad
(617) 420-9033
Source:
Sredboston
Added: Dec 27, 2025
Changed: Aug 11
Last Checked: Aug 12 at 4:05AM
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 Northeast Development & Investment,Inc.
Investment Insights
Based on property information with market context.
Harrison Lofts is a newer-construction (2020) 17-unit multifamily property that includes four duplexes, offering a diversified unit mix from studio through 4-bedroom layouts. Units feature modern finishes, stainless steel appliances, and an industrial loft design. Operational conveniences include on-site laundry and 32 off-street parking spaces. Utilities are separately metered with gas and electric for each unit, and each unit has an individual on-demand hot water heater.
The property is located minutes from I-495, commuter rail, and downtown Haverhill amenities, supporting resident access to regional and local transportation options.
For investors or owner-operators, the combination of modern construction, consistent unit design, and separately metered utilities is well suited to buyers seeking a manageable, fully residential income stream. With 17 units arranged across multiple configurations, the property provides flexibility for tenant demand across smaller and larger households, while the on-site amenities and dedicated parking support day-to-day livability. The asset is currently producing approximately $427,000 in gross annual income.
The property is located minutes from I-495, commuter rail, and downtown Haverhill amenities, supporting resident access to regional and local transportation options.
For investors or owner-operators, the combination of modern construction, consistent unit design, and separately metered utilities is well suited to buyers seeking a manageable, fully residential income stream. With 17 units arranged across multiple configurations, the property provides flexibility for tenant demand across smaller and larger households, while the on-site amenities and dedicated parking support day-to-day livability. The asset is currently producing approximately $427,000 in gross annual income.
Key Highlights
- 17‑unit multifamily property built in 2020
- Unit mix includes studios through 4‑bedroom apartments, with 4 duplexes totaling 17 units
- Modern interiors with stainless steel appliances and industrial loft design
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
$322,376
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
6.58%
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%
$6,447,520
$6.4M
Cap Rate 7%
$4,605,371
$4.6M
Cap Rate 9%
$3,581,956
$3.6M
Market Conditions
NOI Build-Up for 21,200 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
$610.6K $28.80/SF
− Vacancy
−$24.4K −$1.15/SF
EGI
$586.1K $27.65/SF
− OpEx
−$263.8K −$12.44/SF
NOI
$322.4K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /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%
$6,447,520
Cap Rate 7%
$4,605,371
Cap Rate 9%
$3,581,956
Alternative Uses
Best Use
Apartment 5plus
$4.61M
$4.03M – $5.37M
NOI $322,376 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.55M
$10.98M – $14.64M
NOI $878,523 @ 7.0% cap · market cap 17.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,876
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
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?
Apartment building - 17-unit multifamily with modern loft-style units, on-site laundry, 32 off-street parking spaces, and separately metered utilities.
Where is this apartment building located?
The property is located at 108 Harrison Street Haverhill, MA.
What is the asking price?
The asking price for this property is $4,899,000.
What are key features of this property?
This property features: 17‑unit multifamily property built in 2020; Unit mix includes studios through 4‑bedroom apartments, with 4 duplexes totaling 17 units; Modern interiors with stainless steel appliances and industrial loft design
