Building Details

Year Built 1900

Stories 3

Listing Agency: Keller Williams Realty d***@kw.com Show Phone

Listed By: Amanda Lucido Hodges Show Phone

Source: Bournetosellrealestate

Added: Jul 11 Changed: Aug 8 Last Checked: Aug 8 at 6:30PM

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Investment Insights

Based on property information with market context.

This three-story multi-family property offers 2,725± square feet of living space with 5 private bedrooms and 3 full bathrooms. The layout is set up with individual bedrooms and shared kitchens and bathrooms on the second and third floors. Most recently operated as a residential shelter, the configuration may support a range of future uses, subject to local approvals.

The property is located at 48 Sea St and sits on a 3,273 square foot lot near beaches, marinas, restaurants, and commuter routes. It is also being offered for sale together with the abutting property at 52 Sea St, which may present additional flexibility for buyers evaluating redevelopment or reconfiguration plans.

For parties looking to renovate or adapt the existing floor plan, this asset provides a clear, repeatable bedroom-and-common-area structure across the upper levels, with a solid foundation for conversion based on the buyer’s permitted end use.

Key Highlights

• Three‑story multi‑family property (Year Built: 1900) with 2,725± SF of living space
• 5 private bedrooms and 3 full bathrooms
• Most recently operated as a residential shelter with individual bedrooms plus shared kitchens and bathrooms on 2nd and 3rd floors

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

$45,039

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

6.67%

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%

$900,780 $900.8K

Cap Rate 7%

$643,414 $643.4K

Cap Rate 9%

$500,433 $500.4K

Market Conditions

NOI Build-Up for 2,725 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

$86.7K $31.80/SF

− Vacancy

−$4.8K −$1.75/SF

EGI

$81.9K $30.05/SF

− OpEx

−$36.9K −$13.52/SF

NOI

$45.0K $16.53/SF

Area

Norfolk County, MA

Vacancy

5.50%

Lease Rate

$31.80 /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%

$900,780

Cap Rate 7%

$643,414

Cap Rate 9%

$500,433

Alternative Uses

Best Use

Apartment 5plus

$643.4K

$563.0K – $750.7K (±1% cap)

NOI $45,039 @ 7.0% cap · market cap 6.67%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,923 @ 7.0% cap · market cap 16.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Hair Salon Spa & Massage Center Building Supply

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

Location Intelligence

Trade Area within ½ mile

323

Businesses Nearby

Explore this area Business Placement

Demographics for 02191, MA

8,271

Population

3,704

Households

2.2

Avg Household Size

48

Median Age

43%

College-Educated

95%

High-School Grad

1.8 sq mi

ZIP Area

4,595

Density / Sq Mi

$116,496

Median Household Income

$67,043

Median Earnings

$1,833

Median Rent

$492,200

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Three-story property with 5 bedrooms and 3 full bathrooms, most recently operated as a residential shelter.

Where is this residential income property located?

The property is located at 48 Sea St Weymouth North Weymouth, MA.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Three‑story multi‑family property (Year Built: 1900) with 2,725± SF of living space; 5 private bedrooms and 3 full bathrooms; Most recently operated as a residential shelter with individual bedrooms plus shared kitchens and bathrooms on 2nd and 3rd floors