Redevelopment Multifamily
For Sale
$894,000
147 Onset Ave, Wareham, MA 02558
Two parcels include three existing structures requiring substantial rehabilitation, with municipal water, sewer, and natural gas available.
Property Size5,029 SF
Price / SF$177.77
Days on Market82
Property Features for 147 Onset Ave
General Information
Standard status
Active
Size
5,029 SF
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Listing Agency:
Century 21 North East
(800) 844-7653
Listed By:
Brennan Team
(508) 942-4394
Source:
Lockandkeyre
Added: Jun 15
Changed: Sep 3
Last Checked: Sep 4 at 6:11AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This offering includes both 145 and 147 Onset Avenue, comprising two parcels with three existing structures. The current improvements require substantial rehabilitation and are being sold as-is, where-is, with no warranties or representations by the seller. The property presents redevelopment-oriented opportunities, subject to all required local, state, and federal approvals.
Municipal water, sewer, and natural gas are available. The property is located within walking distance to Onset Beach and nearby downtown shops, restaurants, marinas, and area amenities.
The buyer is responsible for conducting all due diligence, including zoning, permitting, utilities, and any environmental considerations, as well as evaluating intended future use. The transaction is for sale and is not described as being eligible for traditional financing, cash, hard money, or other non-conventional financing only.
Municipal water, sewer, and natural gas are available. The property is located within walking distance to Onset Beach and nearby downtown shops, restaurants, marinas, and area amenities.
The buyer is responsible for conducting all due diligence, including zoning, permitting, utilities, and any environmental considerations, as well as evaluating intended future use. The transaction is for sale and is not described as being eligible for traditional financing, cash, hard money, or other non-conventional financing only.
Key Highlights
- Two parcels sold together: 145 & 147 Onset Avenue
- Includes three existing structures built in 1900 requiring substantial rehabilitation
- Municipal water and sewer available, plus natural gas
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
$78,332
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
8.76%
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%
$1,566,640
$1.6M
Cap Rate 7%
$1,119,029
$1.1M
Cap Rate 9%
$870,356
$870.4K
Market Conditions
NOI Build-Up for 5,029 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
$150.9K $30.00/SF
− Vacancy
−$8.4K −$1.68/SF
EGI
$142.4K $28.32/SF
− OpEx
−$64.1K −$12.74/SF
NOI
$78.3K $15.58/SF
Area
Plymouth County, MA
Vacancy
5.60%
Lease Rate
$30.00 /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%
$1,566,640
Cap Rate 7%
$1,119,029
Cap Rate 9%
$870,356
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $84,992 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$1.12M
$979.2K – $1.31M
NOI $78,332 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,400 @ 7.0% cap · market cap 23.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 02558, MA
2,178
Population
1,766
Households
1.2
Avg Household Size
52
Median Age
16%
College-Educated
95%
High-School Grad
1.1 sq mi
ZIP Area
1,980
Density / Sq Mi
$58,594
Median Household Income
$67,889
Median Earnings
$1,482
Median Rent
$426,900
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 - Two parcels include three existing structures requiring substantial rehabilitation, with municipal water, sewer, and natural gas available.
Where is this triplex located?
The property is located at 147 Onset Ave Wareham, MA.
What is the asking price?
The asking price for this property is $894,000.
What are key features of this property?
This property features: Two parcels sold together: 145 & 147 Onset Avenue; Includes three existing structures built in 1900 requiring substantial rehabilitation; Municipal water and sewer available, plus natural gas
