Mixed-Use Investment
For Sale
$3,325,000
1155-1157 Pleasant Street, Fall River, MA 02723
Four buildings with 36 bedrooms and value-add upside.
Property Size21,000 SF
Days on Market123
Property Features for 1155-1157 Pleasant Street
General Information
Standard status
Active
Size
21,000 SF
Total Parking Spaces
17
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$27,787
Building Details
Building Size
21,000 SF
Year Built
1900
Listing Agency:
NextGen Realty, Inc.
(617) 208-2100
Listed By:
Zachary Conley · License #9528338
Source:
Classifiedrealtygroup
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 24 at 3:45AM
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 NextGen Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use investment opportunity includes four buildings and a large parking lot with off-street parking. The portfolio consists of a 10-unit building (2 commercial, 8 residential), a 4-unit building (1 commercial, 3 residential), a 4-family building, and a 6-family building. In total, there are 36 bedrooms, including one 3-bedroom unit, thirteen 2-bedroom units, and the remaining units are 1-bedroom apartments, along with three commercial spaces. The current gross annual income is $365,400. There is potential to increase the cap rate to approximately 11.5% at market rents through modest increases. Commercial tenants include Metro PCS and a tattoo studio. The location has a walk score of 89, indicating it is very walkable, a bike score of 63, indicating it is bikeable, and a transit score of 43, indicating some transit options are available.
Key Highlights
- Exceptional mixed‑use investment opportunity with four buildings and a large parking lot.
- Current gross income of $365,400 annually, offered at an 8.2% cap rate.
- Clear path to approximately 11.5% cap rate at market rents, creating significant value‑add upside.
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
$248,063
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
7.46%
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%
$4,961,260
$5.0M
Cap Rate 7%
$3,543,757
$3.5M
Cap Rate 9%
$2,756,256
$2.8M
Market Conditions
NOI Build-Up for 21,000 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
$441.0K $21.00/SF
− Vacancy
−$44.1K −$2.10/SF
EGI
$396.9K $18.90/SF
− OpEx
−$148.8K −$7.09/SF
NOI
$248.1K $11.81/SF
Area
Bristol County, MA
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,961,260
Cap Rate 7%
$3,543,757
Cap Rate 9%
$2,756,256
Alternative Uses
Best Use
Apartment 5plus
$4.98M
$4.36M – $5.81M
NOI $348,773 @ 7.0% cap · market cap 10.49%
Second Best
Mixed Use
$3.54M
$3.10M – $4.13M
NOI $248,063 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$12.79M
$11.19M – $14.92M
NOI $895,205 @ 7.0% cap · market cap 26.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
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?
Mixed-use property - Four buildings with 36 bedrooms and value-add upside.
Where is this mixed-use property located?
The property is located at 1155-1157 Pleasant Street Fall River, MA.
What is the asking price?
The asking price for this property is $3,325,000.
What are key features of this property?
This property features: Exceptional mixed‑use investment opportunity with four buildings and a large parking lot.; Current gross income of $365,400 annually, offered at an 8.2% cap rate.; Clear path to approximately 11.5% cap rate at market rents, creating significant value‑add upside.
