Vacant Three-Unit
For Sale
$675,000
Pending
135 Cohasset St, Worcester, MA 01604
Three vacant apartments include refrigerators and stoves, supporting immediate tenant selection after closing.
Property Size4,104 SF
Days on Market103
Property Features for 135 Cohasset St
General Information
Standard status
Pending
Size
4,104 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RG-5
Taxes and HOA fees
Annual Taxes
$7,744
Building Details
Building Size
4,104 SF
Year Built
1980
Stories
3
Listing Agency:
Coldwell Banker Realty - Worcester
Listed By:
Lee Joseph
Source:
Laerrealty
Added: May 20
Changed: Aug 29
Last Checked: May 30 at 8:10AM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
This three-unit triplex contains 9 bedrooms and 3 baths across 4,104 square feet. The property includes three apartment levels, with a refrigerator and stove remaining on each floor. All apartments are currently vacant, allowing the next owner to select tenants.
Natural-gas hot water tanks date to 2017, 2017, and 2014. Each unit has its own electrical box, with some located in the rear porch closets, along with a separate landlord box. Public records identify the year built as 1980. The property is located in Worcester’s Grafton Hill area at 135 Cohasset Street.
Natural-gas hot water tanks date to 2017, 2017, and 2014. Each unit has its own electrical box, with some located in the rear porch closets, along with a separate landlord box. Public records identify the year built as 1980. The property is located in Worcester’s Grafton Hill area at 135 Cohasset Street.
Key Highlights
- Three‑unit triplex with 9 bedrooms and 3 baths
- 4,104 square feet; public records identify 1980 as the year built
- All three apartments are vacant
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
$60,268
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
8.93%
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%
$1,205,360
$1.2M
Cap Rate 7%
$860,971
$861.0K
Cap Rate 9%
$669,644
$669.6K
Market Conditions
NOI Build-Up for 4,104 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
$91.1K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.1K $20.98/SF
− OpEx
−$25.8K −$6.29/SF
NOI
$60.3K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$1,205,360
Cap Rate 7%
$860,971
Cap Rate 9%
$669,644
Alternative Uses
Best Use
Multifamily LT 5
$861.0K
$753.4K – $1.00M
NOI $60,268 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$790.3K
$691.6K – $922.1K
NOI $55,324 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,888 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
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?
Triplex - Three vacant apartments include refrigerators and stoves, supporting immediate tenant selection after closing.
Where is this triplex located?
The property is located at 135 Cohasset St Worcester, 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‑unit triplex with 9 bedrooms and 3 baths; 4,104 square feet; public records identify 1980 as the year built; All three apartments are vacant
