Multifamily Apartment
For Sale
$2,150,000
12 Park Avenue, Hull, MA 02045
For sale multifamily apartment building at 12 Park Avenue in Hull, MA.
Property Size5,930 SF
Price / SF$362.56
Days on Market101
Property Features for 12 Park Avenue
General Information
Standard status
Active
Size
5,930 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
Northeast Private Client Group,LLC
Listed By:
James Casey · License #9568843
(413) 896-3060
Source:
Capecoastalsir
Added: May 27
Changed: Sep 3
Last Checked: Sep 4 at 10:28AM
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 Private Client Group,LLC
Investment Insights
Based on property information with market context.
This multifamily apartment building is offered for sale and is listed at 12 Park Avenue, Hull, MA 02045. The property is categorized as an apartment building and residential income property, providing a straightforward residential income asset for qualified buyers.
The building’s listing data includes a property size of 5,930 (unit not specified in the source information). Additional details regarding unit count, layouts, condition, amenities, and income potential are not provided in the supplied information.
For more information and to review financial and physical details, request the offering materials associated with the listing.
The building’s listing data includes a property size of 5,930 (unit not specified in the source information). Additional details regarding unit count, layouts, condition, amenities, and income potential are not provided in the supplied information.
For more information and to review financial and physical details, request the offering materials associated with the listing.
Key Highlights
- Multifamily apartment building for sale at 12 Park Avenue in Hull, MA
- Built in 1910
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
$92,366
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
4.30%
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%
$1,847,320
$1.8M
Cap Rate 7%
$1,319,514
$1.3M
Cap Rate 9%
$1,026,289
$1.0M
Market Conditions
NOI Build-Up for 5,930 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
$177.9K $30.00/SF
− Vacancy
−$10.0K −$1.68/SF
EGI
$167.9K $28.32/SF
− OpEx
−$75.6K −$12.74/SF
NOI
$92.4K $15.58/SF
Area
Plymouth County, MA
Vacancy
5.60%
Lease Rate
$30.00 /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%
$1,847,320
Cap Rate 7%
$1,319,514
Cap Rate 9%
$1,026,289
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,366 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,738 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 02045, MA
10,072
Population
5,733
Households
1.8
Avg Household Size
54
Median Age
52%
College-Educated
97%
High-School Grad
2.7 sq mi
ZIP Area
3,730
Density / Sq Mi
$127,112
Median Household Income
$63,327
Median Earnings
$1,885
Median Rent
$606,100
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 - For sale multifamily apartment building at 12 Park Avenue in Hull, MA.
Where is this apartment building located?
The property is located at 12 Park Avenue Hull, MA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Multifamily apartment building for sale at 12 Park Avenue in Hull, MA; Built in 1910
