Mixed-Use Apartment
For Sale
$699,000
155 Rodman St, Fall River, MA 02721
Building with four residential units and one ground-floor commercial space, fully rented, with recent roof and window updates.
Property Size3,728 SF
Price / SF$187.50
Days on Market146
Property Features for 155 Rodman St
General Information
Standard status
Active
Size
3,728 SF
Property subtype
Commercial
Zoning
CBD
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,534
Building Details
Building Size
3,728 SF
Year Built
1880
Year Renovated
1991
Tenancy
Multi
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 13
Changed: Sep 4
Last Checked: Sep 5 at 4:06AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This mixed-use apartment building includes four residential units plus one commercial space on the ground level. The residential layout consists of two one-bedroom units on the first level and two two-bedroom units spanning the second level. Updates include a roof replacement completed in 2021 and replacement windows. The property was rebuilt in 1991 down to the studs.
A private backyard provides a shared outdoor area for cookouts, including a firepit and an above-ground pool.
The building is fully rented, combining income-producing residential units with an active ground-floor commercial space.
A private backyard provides a shared outdoor area for cookouts, including a firepit and an above-ground pool.
The building is fully rented, combining income-producing residential units with an active ground-floor commercial space.
Key Highlights
- 1880‑built mixed‑use building with 4 residential units plus 1 commercial space at ground level
- Fully rented units and commercial space
- Roof updated in 2021 and replacement windows
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
$61,916
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
8.86%
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%
$1,238,320
$1.2M
Cap Rate 7%
$884,514
$884.5K
Cap Rate 9%
$687,956
$688.0K
Market Conditions
NOI Build-Up for 3,728 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
$120.8K $32.40/SF
− Vacancy
−$8.2K −$2.20/SF
EGI
$112.6K $30.20/SF
− OpEx
−$50.7K −$13.59/SF
NOI
$61.9K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /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%
$1,238,320
Cap Rate 7%
$884,514
Cap Rate 9%
$687,956
Alternative Uses
Best Use
Multifamily LT 5
$951.8K
$832.8K – $1.11M
NOI $66,623 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$884.5K
$774.0K – $1.03M
NOI $61,916 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $158,920 @ 7.0% cap · market cap 22.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,986
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
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?
Quadplex - Building with four residential units and one ground-floor commercial space, fully rented, with recent roof and window updates.
Where is this quadplex located?
The property is located at 155 Rodman St Fall River, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1880‑built mixed‑use building with 4 residential units plus 1 commercial space at ground level; Fully rented units and commercial space; Roof updated in 2021 and replacement windows
