Updated Triplex with Vacant
New
For Sale
$599,000
11 Nutting St, Fitchburg, MA 01420
The first-floor residence will be delivered vacant at closing, with separate utilities serving the three-unit property.
Property Size3,150 SF
Days on Market3
Property Features for 11 Nutting St
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,583
Building Details
Building Size
3,150 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Keller Williams Realty North Central
Listed By:
Nicholas L. Pelletier
(978) 674-7146
Source:
Elliman
Added: Sep 13
Last Checked: Sep 15 at 8:10AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
Built in 1900, this three-family property contains updated two-bedroom residences with comfortable layouts. The first-floor unit is scheduled to be vacant at closing, providing immediate occupancy flexibility for an owner-occupant while the remaining units continue as part of the property’s residential configuration. Separate utilities serve the units, and lead certificates of compliance are in hand.
The property is located at 11 Nutting St in Fitchburg, Massachusetts. WalkScore is 78, described as Very Walkable; BikeScore is 58, described as Bikeable; and TransitScore is 44, described as Some Transit.
The property is located at 11 Nutting St in Fitchburg, Massachusetts. WalkScore is 78, described as Very Walkable; BikeScore is 58, described as Bikeable; and TransitScore is 44, described as Some Transit.
Key Highlights
- Three‑family property built in 1900
- Updated 2 bedroom units
- First‑floor unit delivered vacant at closing
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
$42,581
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
7.11%
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%
$851,620
$851.6K
Cap Rate 7%
$608,300
$608.3K
Cap Rate 9%
$473,122
$473.1K
Market Conditions
NOI Build-Up for 3,150 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
$62.4K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$60.8K $19.31/SF
− OpEx
−$18.2K −$5.79/SF
NOI
$42.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$851,620
Cap Rate 7%
$608,300
Cap Rate 9%
$473,122
Alternative Uses
Best Use
Multifamily LT 5
$608.3K
$532.3K – $709.7K
NOI $42,581 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$529.4K
$463.2K – $617.6K
NOI $37,057 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.08M
$941.2K – $1.25M
NOI $75,298 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
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?
Triplex - The first-floor residence will be delivered vacant at closing, with separate utilities serving the three-unit property.
Where is this triplex located?
The property is located at 11 Nutting St Fitchburg, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑family property built in 1900; Updated 2 bedroom units; First‑floor unit delivered vacant at closing
