Triplex with Off-Street
New
For Sale
$699,900
179-181 Grant St, Framingham, MA 01702
Three-unit property with separate electric services, updated heating, replacement windows, and basement storage.
Property Size1,800 SF
Days on Market4
Property Features for 179-181 Grant St
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
3
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x efficiency, 1 x 1BR, 1 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,811
Amenities
new heating system
energy efficient replacement windows
hardwood flooring
ceiling fans
basement storage
washer/dryer hook-up
Building Details
Building Size
1,800 SF
Year Built
1907
Buildings
1
Stories
3
Units
3
Listing Agency:
RE/MAX One Call Realty
Listed By:
John Pasciuti · License #9022929
(508) 397-1636
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 6:56AM
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 One Call Realty
Investment Insights
Based on property information with market context.
Built in 1907, this three-family property includes an efficiency unit, a one-bedroom apartment, and a two-bedroom apartment. The building has a new heating system, separate electric services, low-maintenance vinyl siding, and energy-efficient replacement windows. Hardwood flooring appears in many rooms, while some rooms include ceiling fans. Three off-street parking spaces serve the property.
Basement storage and a washer and dryer hookup add practical utility. The property is located at 179-181 Grant St in Framingham, near parks, shopping, restaurants, the highway, and commuter rail service. Walk Score is 78, Bike Score is 55, and Transit Score is 42.
Basement storage and a washer and dryer hookup add practical utility. The property is located at 179-181 Grant St in Framingham, near parks, shopping, restaurants, the highway, and commuter rail service. Walk Score is 78, Bike Score is 55, and Transit Score is 42.
Key Highlights
- Three‑family layout with efficiency, one‑bedroom, and two‑bedroom units
- New heating system with separate electric services
- Three off‑street parking spaces
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
$38,089
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
5.44%
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%
$761,780
$761.8K
Cap Rate 7%
$544,129
$544.1K
Cap Rate 9%
$423,211
$423.2K
Market Conditions
NOI Build-Up for 1,800 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
$57.2K $31.80/SF
− Vacancy
−$2.8K −$1.57/SF
EGI
$54.4K $30.23/SF
− OpEx
−$16.3K −$9.07/SF
NOI
$38.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$761,780
Cap Rate 7%
$544,129
Cap Rate 9%
$423,211
Alternative Uses
Best Use
Multifamily LT 5
$544.1K
$476.1K – $634.8K
NOI $38,089 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$511.6K
$447.7K – $596.9K
NOI $35,814 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
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-unit property with separate electric services, updated heating, replacement windows, and basement storage.
Where is this triplex located?
The property is located at 179-181 Grant St Framingham, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑family layout with efficiency, one‑bedroom, and two‑bedroom units; New heating system with separate electric services; Three off‑street parking spaces
