Remodeled Mixed-Use Property with
For Sale
$499,900
1413 Rodman St, Fall River, MA 02721
Two-unit mixed-use building with a fully renovated hair salon, rear office/storage space, and a townhouse-style 3-bedroom unit.
Property Size2,321 SF
Days on Market44
Property Features for 1413 Rodman St
General Information
Standard status
Active
Size
2,321 SF
Total Parking Spaces
4
Property subtype
Investment
Units
Multifamily Units
3
Office Units
1
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,888
Building Details
Building Size
2,321 SF
Year Built
1929
Year Renovated
2022
Stories
3
Units
2
Listing Agency:
RE/MAX Vantage
(508) 951-4104
Listed By:
Team ROSO
(508) 951-4104
Source:
Elliman
Added: Jul 8
Changed: Aug 14
Last Checked: Aug 20 at 8:01AM
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.
1413 Rodman Street is a remodeled two-unit mixed-use property with a ground-floor hair salon and a spacious townhouse-style residential unit on the second and third floors. The first floor features a fully renovated modern hair salon with a half bath at the front, plus an additional office space with a half bath and a separate rear entrance, currently used as storage but open to other options. The upper floors provide a 3-bedroom layout.
The property includes two off-street parking spaces, along with two on-street parking spaces with a 2-hour limit for clients. The roof is approximately 12 years old, and siding, windows, and the salon renovation were completed new in 2022. There are newer furnaces and hot water tanks, and separate utilities are provided.
Located in a high-visibility area, the building is minutes to shopping, highway access, and the new South Coast Commuter Rail.
The property includes two off-street parking spaces, along with two on-street parking spaces with a 2-hour limit for clients. The roof is approximately 12 years old, and siding, windows, and the salon renovation were completed new in 2022. There are newer furnaces and hot water tanks, and separate utilities are provided.
Located in a high-visibility area, the building is minutes to shopping, highway access, and the new South Coast Commuter Rail.
Key Highlights
- 2‑unit mixed‑use building (hair salon plus townhouse‑style 3‑bedroom residential unit) built in 1929
- Extensive remodel: salon renovation, siding, and windows were completed new in 2022
- First floor includes fully renovated modern hair salon with front half bath, plus rear office/storage area with half bath and separate entrance
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
$38,548
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
7.71%
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%
$770,960
$771.0K
Cap Rate 7%
$550,686
$550.7K
Cap Rate 9%
$428,311
$428.3K
Market Conditions
NOI Build-Up for 2,321 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
$75.2K $32.40/SF
− Vacancy
−$5.1K −$2.20/SF
EGI
$70.1K $30.20/SF
− OpEx
−$31.5K −$13.59/SF
NOI
$38.5K $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%
$770,960
Cap Rate 7%
$550,686
Cap Rate 9%
$428,311
Alternative Uses
Best Use
Retail
$681.0K
$595.9K – $794.5K
NOI $47,669 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$550.7K
$481.9K – $642.5K
NOI $38,548 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,941 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
3
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
189k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 56%
Shops & Services 25%
Dining 19%
Walmart
Superstores
106,291 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
27,911 visits/mo
0.4 miles
McDonald's
Dining
26,689 visits/mo
0.3 miles
Dunkin' Donuts
Dining
9,283 visits/mo
0.0 miles
BayCoast Bank
Shops & Services
6,688 visits/mo
0.5 miles
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-unit mixed-use building with a fully renovated hair salon, rear office/storage space, and a townhouse-style 3-bedroom unit.
Where is this residential income property located?
The property is located at 1413 Rodman St Fall River, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2‑unit mixed‑use building (hair salon plus townhouse‑style 3‑bedroom residential unit) built in 1929; Extensive remodel: salon renovation, siding, and windows were completed new in 2022; First floor includes fully renovated modern hair salon with front half bath, plus rear office/storage area with half bath and separate entrance
