Brick Three-Unit
For Sale
$560,000
151 Mechanic Street, Fitchburg, MA 01420
Brick construction, individually metered utilities, and on-site laundry support flexible ownership options.
Property Size2,680 SF
Price / SF$208.96
Days on Market11
Property Features for 151 Mechanic Street
General Information
Standard status
Active
Size
2,680 SF
Property subtype
3 Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Amenities
off-street parking
coin-operated laundry
private side yard
Building Details
Year Built
1830
Buildings
1
Construction
brick
Listing Agency:
Century 21 XSELL REALTY
(774) 772-7072
Listed By:
Derrick Asante
(774) 696-9272
Source:
Lockandkeyre
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 9:23AM
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 XSELL REALTY
Investment Insights
Based on property information with market context.
This 2680 SF brick triplex, built in 1830, includes three apartments with a 3-bedroom, 2-bedroom, and 1-bedroom layout. Each unit has separate gas heat, hot water, and electric service. The property also provides off-street parking, coin-operated laundry, and a private side yard.
The first-floor apartment is vacant, while the two upper units are occupied. The property is near the MBTA commuter rail, shopping, schools, restaurants, and major routes, providing access to nearby services and transportation connections.
The first-floor apartment is vacant, while the two upper units are occupied. The property is near the MBTA commuter rail, shopping, schools, restaurants, and major routes, providing access to nearby services and transportation connections.
Key Highlights
- Three‑unit brick property with 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
- 2680 SF building constructed in 1830
- Separate gas heat, hot water, and electric for each apartment
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
$36,227
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
6.47%
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%
$724,540
$724.5K
Cap Rate 7%
$517,529
$517.5K
Cap Rate 9%
$402,522
$402.5K
Market Conditions
NOI Build-Up for 2,680 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
$53.1K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$51.8K $19.31/SF
− OpEx
−$15.5K −$5.79/SF
NOI
$36.2K $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 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%
$724,540
Cap Rate 7%
$517,529
Cap Rate 9%
$402,522
Alternative Uses
Best Use
Multifamily LT 5
$517.5K
$452.8K – $603.8K
NOI $36,227 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$450.4K
$394.1K – $525.5K
NOI $31,527 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$915.2K
$800.8K – $1.07M
NOI $64,063 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Brick construction, individually metered utilities, and on-site laundry support flexible ownership options.
Where is this triplex located?
The property is located at 151 Mechanic Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Three‑unit brick property with 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments; 2680 SF building constructed in 1830; Separate gas heat, hot water, and electric for each apartment
