Duplex Building Zoned Industrial with 40R
For Sale
$999,999
15 Shirley St, Fairhaven, MA 02719
MULTI_FAMILY - Fairhaven, MA
Property Size2,245 SF
Lot Size1.69 Acres
Price / SF$445.43
Days on Market135
Property Features for 15 Shirley St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
I
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
Parking
10
Directions
I-195 to Rt240 Exit, right @ 1st light, left at the next light, 1stleft
Standard status
Active
APN
M:00030A L:00086F S:,3284554
Size
2,245 SF
Lot size
1.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6382
Building Details
Year built
1918
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Apr 8
Changed: Aug 10
Last Checked: Aug 20 at 10:06AM
MLS# 73498083
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex building featuring two bedrooms and two bathrooms, built in 1918. The property sits on a 1.69-acre lot and has a total property size of 2,245 square feet.
The site is zoned industrial with a 40R district overlay. The property is described as a mixed-use configuration that includes a two-family home and a commercial lot, and it must be sold together with the commercial parcel. The remarks also indicate the possibility to subdivide into multiple lots.
Additional room-level information lists Bedroom 1 and Bedroom 2, along with Bathroom 1 and Bathroom 2, supporting the two-bedroom, two-bath layout described for the duplex portion.
The site is zoned industrial with a 40R district overlay. The property is described as a mixed-use configuration that includes a two-family home and a commercial lot, and it must be sold together with the commercial parcel. The remarks also indicate the possibility to subdivide into multiple lots.
Additional room-level information lists Bedroom 1 and Bedroom 2, along with Bathroom 1 and Bathroom 2, supporting the two-bedroom, two-bath layout described for the duplex portion.
Key Highlights
- Zoned industrial with a 40R district overlay
- Duplex building built in 1918
- 2,245 SF total property size
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
$40,120
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
4.01%
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%
$802,400
$802.4K
Cap Rate 7%
$573,143
$573.1K
Cap Rate 9%
$445,778
$445.8K
Market Conditions
NOI Build-Up for 2,245 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
$62.0K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$57.3K $25.53/SF
− OpEx
−$17.2K −$7.66/SF
NOI
$40.1K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$802,400
Cap Rate 7%
$573,143
Cap Rate 9%
$445,778
Alternative Uses
Best Use
Multifamily LT 5
$573.1K
$501.5K – $668.7K
NOI $40,120 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$532.6K
$466.1K – $621.4K
NOI $37,285 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,702 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 02719, MA
15,924
Population
7,777
Households
2
Avg Household Size
49
Median Age
30%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,284
Density / Sq Mi
$92,500
Median Household Income
$57,781
Median Earnings
$1,071
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a 40R overlay industrial-zoned site built in 1918, with two bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 15 Shirley St Fairhaven, MA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Zoned industrial with a 40R district overlay; Duplex building built in 1918; 2,245 SF total property size
