Multifamily Property with Walk-Out
For Sale
$1,300,000
119-121 Tremont St, Fall River, MA 02720
M-zoned multifamily property with a walk-out lower level, gas water heating, and paved off-street parking.
Property Size6,898 SF
Price / SF$188.46
Days on Market156
Property Features for 119-121 Tremont St
General Information
Standard status
Active
Size
6,898 SF
Total Parking Spaces
7
Property subtype
Residential Income
Zoning
M
Taxes and HOA fees
Annual Taxes
$9,127
Amenities
Full, Walk-Out Access, Unfinished
Gas Water Heater
Paved, Off Street
Building Details
Building Size
6,898 SF
Year Built
1900
Stories
5
Listing Agency:
RE/MAX Vantage
(508) 951-4104
Listed By:
Team ROSO
(508) 951-4104
Source:
Evrealestate
Added: Mar 30
Changed: Aug 31
Last Checked: Sep 1 at 5:39PM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
This multifamily property at 119-121 Tremont St in Fall River includes a full, walk-out lower level with unfinished space. The building has a gas water heater and paved off-street parking. Constructed in 1900, the property is identified within Bristol County and carries M zoning. Its existing physical features provide a clear foundation for evaluating the building’s current configuration and future use within the multifamily category.
Key Highlights
- Multifamily property at 119‑121 Tremont St, Fall River, MA 02720
- M zoning designation
- Full, walk‑out lower level with unfinished space
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
$114,564
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
8.81%
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%
$2,291,280
$2.3M
Cap Rate 7%
$1,636,629
$1.6M
Cap Rate 9%
$1,272,933
$1.3M
Market Conditions
NOI Build-Up for 6,898 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
$223.5K $32.40/SF
− Vacancy
−$15.2K −$2.20/SF
EGI
$208.3K $30.20/SF
− OpEx
−$93.7K −$13.59/SF
NOI
$114.6K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /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%
$2,291,280
Cap Rate 7%
$1,636,629
Cap Rate 9%
$1,272,933
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,564 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.68M – $4.90M
NOI $294,053 @ 7.0% cap · market cap 22.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
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?
Multifamily property - M-zoned multifamily property with a walk-out lower level, gas water heating, and paved off-street parking.
Where is this multifamily property located?
The property is located at 119-121 Tremont St Fall River, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Multifamily property at 119‑121 Tremont St, Fall River, MA 02720; M zoning designation; Full, walk‑out lower level with unfinished space
