Six-Unit Mixed-Use
For Sale
$1,875,000
126 Pleasant St, Marblehead, MA 01945
Mixed residential and retail income property with separate utilities, gas heat, and a shared backyard area.
Property Size5,578 SF
Price / SF$336.14
Days on Market145
Property Features for 126 Pleasant St
General Information
Standard status
Active
Size
5,578 SF
Property subtype
Multi-Family
Zoning
B1
Net Operating Income
$106,300
Units
Multifamily Units
4
Office Units
2
Taxes and HOA fees
Annual Taxes
$9,889
Amenities
common back yard and garden area
Building Details
Building Size
5,578 SF
Year Built
1940
Stories
4
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 14
Changed: Sep 4
Last Checked: Sep 5 at 5:19AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This six-unit mixed-use property includes four residential units and two commercial units. The residential mix consists of two two-bedroom units and two one-bedroom units. Each unit has separate utilities and gas heating systems. The building also features a common back yard and garden area.
Located on Pleasant St in downtown Marblehead’s business district, the property is configured to support both long-term commercial tenancy and consistently occupied residential units, with a strong rental history reported for the building. The exterior, brick, and electrical have had recent work completed, and the property is described as well maintained.
Overall, the asset offers a straightforward income-producing setup with separate service for all units and on-site shared outdoor space.
Located on Pleasant St in downtown Marblehead’s business district, the property is configured to support both long-term commercial tenancy and consistently occupied residential units, with a strong rental history reported for the building. The exterior, brick, and electrical have had recent work completed, and the property is described as well maintained.
Overall, the asset offers a straightforward income-producing setup with separate service for all units and on-site shared outdoor space.
Key Highlights
- Solid 6‑unit mixed‑use building with 4 residential units and 2 commercial units
- Residential unit mix: two 2‑bedroom units and two 1‑bedroom units
- Separate utilities for all units with gas heating systems
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
$84,821
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
4.52%
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%
$1,696,420
$1.7M
Cap Rate 7%
$1,211,729
$1.2M
Cap Rate 9%
$942,456
$942.5K
Market Conditions
NOI Build-Up for 5,578 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
$160.6K $28.80/SF
− Vacancy
−$6.4K −$1.15/SF
EGI
$154.2K $27.65/SF
− OpEx
−$69.4K −$12.44/SF
NOI
$84.8K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /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%
$1,696,420
Cap Rate 7%
$1,211,729
Cap Rate 9%
$942,456
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,821 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,151 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 01945, MA
20,462
Population
8,899
Households
2.3
Avg Household Size
49
Median Age
77%
College-Educated
99%
High-School Grad
4.4 sq mi
ZIP Area
4,650
Density / Sq Mi
$164,325
Median Household Income
$83,539
Median Earnings
$1,769
Median Rent
$904,700
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 - Mixed residential and retail income property with separate utilities, gas heat, and a shared backyard area.
Where is this apartment building located?
The property is located at 126 Pleasant St Marblehead, MA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Solid 6‑unit mixed‑use building with 4 residential units and 2 commercial units; Residential unit mix: two 2‑bedroom units and two 1‑bedroom units; Separate utilities for all units with gas heating systems
