Triplex with Two-Car
For Sale
$925,000
122 Lawrence, Clinton, MA 01510
R1-zoned property with three separate living units and garage parking.
Property Size3,327 SF
Lot Size0.27 Acres
Price / SF$278.03
Days on Market8
Property Features for 122 Lawrence
General Information
Standard status
Active
Size
3,327 SF
Total Parking Spaces
2
Lot size
0.27 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty - Leominster
(508) 451-2688
Listed By:
Nicole Glover · License #9562170
(617) 680-0690
Source:
Inrealtyinc
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 28 at 12:20PM
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 Coldwell Banker Realty - Leominster
Investment Insights
Based on property information with market context.
This 3,327-square-foot triplex, built in 1920, contains 8 bedrooms and 3 full bathrooms across three distinct units. The layout includes a third residence above the garage with 3 bedrooms, while built-in features and period architectural details add character throughout. A two-car garage provides enclosed parking, and the property occupies an 11,609-square-foot lot.
Located at 122 Lawrence in Clinton, Massachusetts, the property carries R1 zoning. The same family has owned it for almost 50 years, providing a documented history of long-term ownership. Its unit configuration, bedroom count, garage, and substantial lot create a clearly defined multifamily asset with varied living areas.
Located at 122 Lawrence in Clinton, Massachusetts, the property carries R1 zoning. The same family has owned it for almost 50 years, providing a documented history of long-term ownership. Its unit configuration, bedroom count, garage, and substantial lot create a clearly defined multifamily asset with varied living areas.
Key Highlights
- Three‑unit multifamily property with 8 bedrooms and 3 full bathrooms
- 3,327 square feet of property size on an 11,609‑square‑foot lot
- Third unit positioned above the garage includes 3 bedrooms
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
$44,973
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
4.86%
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%
$899,460
$899.5K
Cap Rate 7%
$642,471
$642.5K
Cap Rate 9%
$499,700
$499.7K
Market Conditions
NOI Build-Up for 3,327 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
$65.9K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$64.2K $19.31/SF
− OpEx
−$19.3K −$5.79/SF
NOI
$45.0K $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%
$899,460
Cap Rate 7%
$642,471
Cap Rate 9%
$499,700
Alternative Uses
Best Use
Multifamily LT 5
$642.5K
$562.2K – $749.6K
NOI $44,973 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$559.1K
$489.2K – $652.3K
NOI $39,139 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.14M
$994.1K – $1.33M
NOI $79,529 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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?
Triplex - R1-zoned property with three separate living units and garage parking.
Where is this triplex located?
The property is located at 122 Lawrence Clinton, MA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 8 bedrooms and 3 full bathrooms; 3,327 square feet of property size on an 11,609‑square‑foot lot; Third unit positioned above the garage includes 3 bedrooms
