3-Unit Triplex with
New
For Sale
$500,000
Pending
1266 South Main St, Palmer, MA 01069
Three vacant apartments feature refreshed kitchens and a mix of two- and three-bedroom layouts.
Property Size2,648 SF
Lot Size0.32 Acres
Days on Market2
Property Features for 1266 South Main St
General Information
Standard status
Pending
Size
2,648 SF
Total Parking Spaces
2
Lot size
0.32 Acres
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,104
Building Details
Building Size
2,648 SF
Year Built
1900
Buildings
1
Stories
3
Units
3
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
Listed By:
Jennifer Tetreault · License #9527043
(413) 531-2817
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:28PM
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 Berkshire Hathaway HomeServices Realty Professionals
Investment Insights
Based on property information with market context.
This three-unit property contains 2,648 square feet of living space and seven bedrooms. The first-floor apartment has three bedrooms, a full bath, living room, and kitchen. Each of the two upper apartments offers two bedrooms, a full bath, living room, and kitchen; the second-floor unit also includes a separate office. All three units are vacant. Refinished hardwood floors, updated kitchen cabinetry, and granite countertops add to the interior features. A 0.32-acre yard and a two-car garage are also part of the property.
The property is close to town, shopping, and dining. A proposed train station site is nearby.
The property is close to town, shopping, and dining. A proposed train station site is nearby.
Key Highlights
- Three vacant apartments totaling 2,648 square feet and seven bedrooms
- Unit mix: one three‑bedroom apartment and two two‑bedroom apartments
- Second‑floor apartment includes a separate office
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
$34,683
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
6.94%
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%
$693,660
$693.7K
Cap Rate 7%
$495,471
$495.5K
Cap Rate 9%
$385,367
$385.4K
Market Conditions
NOI Build-Up for 2,648 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
$52.4K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.5K $18.71/SF
− OpEx
−$14.9K −$5.61/SF
NOI
$34.7K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
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%
$693,660
Cap Rate 7%
$495,471
Cap Rate 9%
$385,367
Alternative Uses
Best Use
Multifamily LT 5
$495.5K
$433.5K – $578.1K
NOI $34,683 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$459.2K
$401.8K – $535.7K
NOI $32,142 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,241 @ 7.0% cap · market cap 22.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 01069, MA
8,428
Population
4,192
Households
2
Avg Household Size
47
Median Age
25%
College-Educated
86%
High-School Grad
28.1 sq mi
ZIP Area
300
Density / Sq Mi
$79,725
Median Household Income
$50,341
Median Earnings
$929
Median Rent
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three vacant apartments feature refreshed kitchens and a mix of two- and three-bedroom layouts.
Where is this triplex located?
The property is located at 1266 South Main St Palmer, MA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Three vacant apartments totaling 2,648 square feet and seven bedrooms; Unit mix: one three‑bedroom apartment and two two‑bedroom apartments; Second‑floor apartment includes a separate office
