Five Duplex Apartment
For Sale
$1,500,000
141-149 Park Hill Avenue, Millbury, MA 01527
Five duplex buildings with 10 apartment units sit on an approximately two-acre site with direct Route 20 frontage.
Property Size5,200 SF
Lot Size2.00 Acres
Days on Market165
Property Features for 141-149 Park Hill Avenue
General Information
Standard status
Active
Size
5,200 SF
Lot size
2.00 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
10
Building Details
Building Size
5,200 SF
Listing Agency:
Kelleher & Sadowsky
Listed By:
Chris Naff
(508) 277-6275
Source:
Kelleher-sadowsky
Added: May 14
Changed: Oct 15
Last Checked: Oct 24 at 1:59PM
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 Kelleher & Sadowsky
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property offers an approximately two-acre site improved with five duplex buildings, totaling 10 apartment units. The asset is being offered for sale as an investment and/or development opportunity.
The site is conveniently positioned with close access to Routes 146, 290, and the Mass Pike, and features direct frontage on Route 20.
For buyers seeking multifamily income with road frontage, the current configuration provides 10 units across the five duplex structures on one combined parcel.
The site is conveniently positioned with close access to Routes 146, 290, and the Mass Pike, and features direct frontage on Route 20.
For buyers seeking multifamily income with road frontage, the current configuration provides 10 units across the five duplex structures on one combined parcel.
Key Highlights
- Approximately 2‑acre site with five duplex buildings
- Total of 10 apartment units across the five duplex buildings
- Direct frontage on Route 20
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,292
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,840
$1.4M
Cap Rate 7%
$1,004,171
$1.0M
Cap Rate 9%
$781,022
$781.0K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$103.0K $19.80/SF
− Vacancy
−$2.5K −$0.49/SF
EGI
$100.4K $19.31/SF
− OpEx
−$30.1K −$5.79/SF
NOI
$70.3K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,840
Cap Rate 7%
$1,004,171
Cap Rate 9%
$781,022
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$878.7K – $1.17M
NOI $70,292 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$873.9K
$764.7K – $1.02M
NOI $61,173 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,301 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 01527, MA
13,799
Population
5,603
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
94%
High-School Grad
15.6 sq mi
ZIP Area
885
Density / Sq Mi
$116,000
Median Household Income
$62,911
Median Earnings
$1,507
Median Rent
$415,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Five duplex buildings with 10 apartment units sit on an approximately two-acre site with direct Route 20 frontage.
Where is this duplex located?
The property is located at 141-149 Park Hill Avenue Millbury, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 2‑acre site with five duplex buildings; Total of 10 apartment units across the five duplex buildings; Direct frontage on Route 20
