Apartment Building with 12
For Sale
$2,350,000
1547 Main Street, Chatham, MA 02633
Renovated housing complex approved for 33 beds, with town sewer service and Route 28 bus access.
Property Size5,547 SF
Price / SF$423.65
Days on Market182
Property Features for 1547 Main Street
General Information
Standard status
Active
Size
5,547 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
10 x room unit, 1 x 4BR/3BA, 1 x 2BR/1BA
Multifamily Units
12
Building Details
Year Built
1960
Year Renovated
2026
Listing Agency:
Christie's International Real Estate Atlantic Brokerage
Listed By:
Evan Dean
(508) 221-5053
Source:
Beachrealtycapecod
Added: Mar 14
Changed: Sep 10
Last Checked: Sep 10 at 5:52AM
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 Christie's International Real Estate Atlantic Brokerage
Investment Insights
Based on property information with market context.
This 12-unit apartment property combines multiple housing formats within a renovated complex. Ten individual room units each include a private bath, compact kitchenette, and heating and cooling. The main house provides four bedrooms, three bathrooms, and a full kitchen, while an attached two-bedroom apartment has its own kitchen and bath. The property is approved by the town for 33 beds and is zoned Gb3.
Renovation work completed in 2026 included flooring, plumbing, electrical, siding, paint, roofing, landscaping, and laundry improvements. The property is connected to the town sewer system and sits along Main Street in Chatham with service on the Route 28 bus line. Several leases are in place.
Renovation work completed in 2026 included flooring, plumbing, electrical, siding, paint, roofing, landscaping, and laundry improvements. The property is connected to the town sewer system and sits along Main Street in Chatham with service on the Route 28 bus line. Several leases are in place.
Key Highlights
- 12 total units approved for 33 beds
- Ten room units with private baths, kitchenettes, and heating and cooling
- Main house includes four bedrooms, three bathrooms, and a full kitchen
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
$111,152
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
4.73%
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%
$2,223,040
$2.2M
Cap Rate 7%
$1,587,886
$1.6M
Cap Rate 9%
$1,235,022
$1.2M
Market Conditions
NOI Build-Up for 5,547 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
$208.3K $37.56/SF
− Vacancy
−$6.3K −$1.13/SF
EGI
$202.1K $36.43/SF
− OpEx
−$90.9K −$16.39/SF
NOI
$111.2K $20.04/SF
Area
Barnstable County, MA
Vacancy
3.00%
Lease Rate
$37.56 /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%
$2,223,040
Cap Rate 7%
$1,587,886
Cap Rate 9%
$1,235,022
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,152 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,231 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 02633, MA
4,664
Population
5,425
Households
0.9
Avg Household Size
62
Median Age
65%
College-Educated
99%
High-School Grad
8.6 sq mi
ZIP Area
542
Density / Sq Mi
$94,036
Median Household Income
$50,038
Median Earnings
$1,005
Median Rent
$881,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated housing complex approved for 33 beds, with town sewer service and Route 28 bus access.
Where is this apartment building located?
The property is located at 1547 Main Street Chatham, MA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 12 total units approved for 33 beds; Ten room units with private baths, kitchenettes, and heating and cooling; Main house includes four bedrooms, three bathrooms, and a full kitchen
