Mixed-Use Property with Loft
New
For Sale
$1,200,000
128 Washington Street, Haverhill, MA 01832
Restaurant and commercial areas share the building with two three-bedroom residential units.
Property Size6,928 SF
Price / SF$173.21
Days on Market5
Property Features for 128 Washington Street
General Information
Standard status
Active
Size
6,928 SF
Property subtype
Multi-family
Building Details
Year Built
1890
Listing Agency:
Profile Realty,Inc.
Listed By:
Ana Maria Frias
(617) 661-6600
Source:
Cambridgerealty
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 9:23AM
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 Profile Realty,Inc.
Investment Insights
Based on property information with market context.
Located at 128 Washington Street in Haverhill, Massachusetts, this mixed-use property combines residential, restaurant, and commercial components within one building. The residential portion includes two loft-style apartments, with three bedrooms in each unit. Restaurant space and additional commercial area are also present in the basement.
Constructed in 1890, the property has a listed property size of 6,928. Its combination of apartment, restaurant, and commercial space supports several distinct occupancy configurations under one roof.
Constructed in 1890, the property has a listed property size of 6,928. Its combination of apartment, restaurant, and commercial space supports several distinct occupancy configurations under one roof.
Key Highlights
- Two loft‑style apartments, each with three bedrooms
- Restaurant space included within the mixed‑use building
- Additional commercial space located in the basement
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
$105,350
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
8.78%
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%
$2,107,000
$2.1M
Cap Rate 7%
$1,505,000
$1.5M
Cap Rate 9%
$1,170,556
$1.2M
Market Conditions
NOI Build-Up for 6,928 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
$199.5K $28.80/SF
− Vacancy
−$8.0K −$1.15/SF
EGI
$191.5K $27.65/SF
− OpEx
−$86.2K −$12.44/SF
NOI
$105.3K $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%
$2,107,000
Cap Rate 7%
$1,505,000
Cap Rate 9%
$1,170,556
Alternative Uses
Best Use
Mixed Use
$2.00M
$1.75M – $2.34M
NOI $140,292 @ 7.0% cap · market cap 11.69%
Second Best
Specialty Retail
$1.83M
$1.60M – $2.13M
NOI $128,059 @ 7.0% cap · market cap 10.67%
Theoretical Best
Office A
$4.10M
$3.59M – $4.78M
NOI $287,095 @ 7.0% cap · market cap 23.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
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?
Mixed-use property - Restaurant and commercial areas share the building with two three-bedroom residential units.
Where is this mixed-use property located?
The property is located at 128 Washington Street Haverhill, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two loft‑style apartments, each with three bedrooms; Restaurant space included within the mixed‑use building; Additional commercial space located in the basement
