Building Details

Year Built 1878

Buildings 1

Listing Agency: William Raveis R.E. & Homes Services a***@options153.com Show Phone

Listed By: Anne E. Cresswell

Source: Lyvrealty

Added: Jul 30 Changed: Aug 29 Last Checked: Aug 30 at 8:38PM

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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 William Raveis R.E. & Homes Services

Investment Insights

Based on property information with market context.

Built in 1878, this 4,301-square-foot mixed-use property contains five income-producing units: two commercial spaces and three residential units. Commercial and residential areas have undergone recent renovations, while separately metered utilities support distinct occupancy arrangements.

The property is located at 41 Summer St in downtown Kingston, Massachusetts, near town offices, the library, commuter rail access, and Route 3. Its combination of commercial and residential components provides a compact mixed-use configuration in a central town setting.

Key Highlights

• Five income‑producing units: 2 commercial and 3 residential
• 4,301 SF mixed‑use building constructed in 1878
• Recent renovations to commercial and residential spaces

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

$66,992

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

7.89%

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%

$1,339,840 $1.3M

Cap Rate 7%

$957,029 $957.0K

Cap Rate 9%

$744,356 $744.4K

Market Conditions

NOI Build-Up for 4,301 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

$129.0K $30.00/SF

− Vacancy

−$7.2K −$1.68/SF

EGI

$121.8K $28.32/SF

− OpEx

−$54.8K −$12.74/SF

NOI

$67.0K $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%

$1,339,840

Cap Rate 7%

$957,029

Cap Rate 9%

$744,356

Alternative Uses

Best Use

Apartment 5plus

$957.0K

$837.4K – $1.12M (±1% cap)

NOI $66,992 @ 7.0% cap · market cap 7.89%

Second Best

Mixed Use

$593.5K

$519.4K – $692.5K (±1% cap)

NOI $41,548 @ 7.0% cap · market cap 4.89%

Theoretical Best

Office A

$2.55M

$2.23M – $2.97M (±1% cap)

NOI $178,232 @ 7.0% cap · market cap 20.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mixed-use properties

Suggested Use

Top Pick Dental Office Bakery HVAC Service Skin Care Clinic (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

275

Businesses Nearby

Explore this area Business Placement

Demographics for 02364, MA

13,708

Population

5,658

Households

2.4

Avg Household Size

43

Median Age

49%

College-Educated

99%

High-School Grad

18.6 sq mi

ZIP Area

737

Density / Sq Mi

$115,863

Median Household Income

$59,955

Median Earnings

$1,157

Median Rent

$562,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Renovated commercial and residential spaces with separately metered utilities in downtown Kingston.

Where is this mixed-use property located?

The property is located at 41 Summer St Kingston, MA.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: Five income‑producing units: 2 commercial and 3 residential; 4,301 SF mixed‑use building constructed in 1878; Recent renovations to commercial and residential spaces