Mixed-Use Building with Commercial
For Sale
$699,000
155 Rodman St, Fall River, MA 02721
Mixed-use property with four residential apartments and an insulated commercial suite plus three off-street parking spaces.
Property Size3,115 SF
Price / SF$224.40
Days on Market155
Property Features for 155 Rodman St
General Information
Standard status
Active
Size
3,115 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
CBD
Net Operating Income
$91,000
Additional Details
Cap Rate
9%
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,534
Building Details
Building Size
3,115 SF
Year Built
1880
Year Renovated
2021
Stories
7
Listing Agency:
RE/MAX Partners
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 13
Changed: Sep 13
Last Checked: Sep 14 at 7:26AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This mixed-use building combines four residential apartments with a separate commercial suite. The four apartments generate approximately $7,000 per month, complemented by an additional commercial income stream of approximately $1,500 per month. The commercial space is professionally sound-insulated and described as suitable for a variety of uses.
The property was rebuilt in 1991 following a prior fire and includes recent improvements such as a roof replacement in 2021. Additional features noted include replacement windows, public utilities, and three off-street parking spaces.
In total, gross scheduled income is approximately $102,000 annually, supporting a stable diversified income profile across residential and commercial components.
The property was rebuilt in 1991 following a prior fire and includes recent improvements such as a roof replacement in 2021. Additional features noted include replacement windows, public utilities, and three off-street parking spaces.
In total, gross scheduled income is approximately $102,000 annually, supporting a stable diversified income profile across residential and commercial components.
Key Highlights
- Mixed‑use property with four residential apartments plus a commercial suite for diversified income
- Gross scheduled income totals approximately $102,000 annually, with an estimated cap rate approaching 9% at the current asking price
- Residential rents total approximately $7,000 per month (4 units) and commercial rent is approximately $1,500 per month
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
$55,668
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
7.96%
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%
$1,113,360
$1.1M
Cap Rate 7%
$795,257
$795.3K
Cap Rate 9%
$618,533
$618.5K
Market Conditions
NOI Build-Up for 3,115 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
$86.0K $27.60/SF
− Vacancy
−$6.4K −$2.07/SF
EGI
$79.5K $25.53/SF
− OpEx
−$23.9K −$7.66/SF
NOI
$55.7K $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%
$1,113,360
Cap Rate 7%
$795,257
Cap Rate 9%
$618,533
Alternative Uses
Best Use
Multifamily LT 5
$795.3K
$695.9K – $927.8K
NOI $55,668 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$739.1K
$646.7K – $862.3K
NOI $51,735 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,789 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
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
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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?
Quadplex - Mixed-use property with four residential apartments and an insulated commercial suite plus three off-street parking spaces.
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: Mixed‑use property with four residential apartments plus a commercial suite for diversified income; Gross scheduled income totals approximately $102,000 annually, with an estimated cap rate approaching 9% at the current asking price; Residential rents total approximately $7,000 per month (4 units) and commercial rent is approximately $1,500 per month
