Triplex With Finished Lower-Level
For Sale
$1,150,000
14 Columbia Rd, Wakefield, MA 01880
Upper units feature full kitchens, porches, high ceilings, and in-unit laundry.
Property Size4,052 SF
Days on Market55
Property Features for 14 Columbia Rd
General Information
Standard status
Active
Size
4,052 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,765
Building Details
Building Size
4,052 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
oNest Real Estate
(857) 869-2765
Listed By:
Suman Mahara · License #9576672
Source:
Jonathanradford
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 9:51AM
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 oNest Real Estate
Investment Insights
Based on property information with market context.
This triplex, built in 1910, includes two upper residential units plus a third unit on the finished lower level. Each upper unit offers a full kitchen, living room, two or three bedrooms, a full bath, large front porch, ample closet space, high ceilings, and in-unit laundry. The lower-level unit includes an open kitchen and living area, a room, full bath, and in-unit laundry.
The property features CertainTeed vinyl clapboard siding and front vinyl shingles. Additional improvements include a two-car garage with parking for up to 4 to 6 vehicles. Located at 14 Columbia Rd in Wakefield, the property is near major highways, dining, shopping, parks, and public transit.
The property features CertainTeed vinyl clapboard siding and front vinyl shingles. Additional improvements include a two-car garage with parking for up to 4 to 6 vehicles. Located at 14 Columbia Rd in Wakefield, the property is near major highways, dining, shopping, parks, and public transit.
Key Highlights
- Three residential units: two upper units plus a third unit on the finished lower level
- Built in 1910 with CertainTeed vinyl clapboard siding and front vinyl shingles
- Upper units include 2 or 3 bedrooms, full kitchens, full baths, porches, and in‑unit laundry
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
$85,742
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
7.46%
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%
$1,714,840
$1.7M
Cap Rate 7%
$1,224,886
$1.2M
Cap Rate 9%
$952,689
$952.7K
Market Conditions
NOI Build-Up for 4,052 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
$128.9K $31.80/SF
− Vacancy
−$6.4K −$1.57/SF
EGI
$122.5K $30.23/SF
− OpEx
−$36.7K −$9.07/SF
NOI
$85.7K $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%
$1,714,840
Cap Rate 7%
$1,224,886
Cap Rate 9%
$952,689
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,742 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,621 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,914 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,400
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
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 - Upper units feature full kitchens, porches, high ceilings, and in-unit laundry.
Where is this triplex located?
The property is located at 14 Columbia Rd Wakefield, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three residential units: two upper units plus a third unit on the finished lower level; Built in 1910 with CertainTeed vinyl clapboard siding and front vinyl shingles; Upper units include 2 or 3 bedrooms, full kitchens, full baths, porches, and in‑unit laundry
