8-Unit Apartment
For Sale
$1,300,000
166-168 W Main St, Orange, MA 01364
Well-maintained apartment property with coin-operated laundry, off-street parking, and established building systems.
Property Size7,262 SF
Price / SF$179.01
Days on Market269
Property Features for 166-168 W Main St
General Information
Standard status
Active
Size
7,262 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
A
Net Operating Income
$108,600
Units
Unit Mix
4 x 3BR, 1 x 2BR, 3 x 1BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$10,985
Amenities
common coin-op laundry
off-street parking
Building Details
Building Size
7,262 SF
Year Built
1800
Stories
4
Listing Agency:
Atlantic Realty Services
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Dec 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:54AM
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 Atlantic Realty Services
Investment Insights
Based on property information with market context.
This 7,262-square-foot apartment building at 166-168 W Main St in Orange, MA, contains 8 units and 17 bedrooms. The unit mix includes four 3-bedroom apartments, one 2-bedroom apartment, and three 1-bedroom apartments. Two units are vacant, while the occupied units include hot water in rent; tenants pay their own heat and electric. Units are described as being in good condition throughout.
Building infrastructure includes a Buderus boiler, two large hot water storage tanks, and a Honeywell fire alarm control panel. The roof is approximately 25% slate and 75% newer asphalt/fiberglass shingles. Residents have access to common coin-operated laundry and off-street parking. The property was built in 1800, is zoned A, and is included in a 76-unit portfolio.
Building infrastructure includes a Buderus boiler, two large hot water storage tanks, and a Honeywell fire alarm control panel. The roof is approximately 25% slate and 75% newer asphalt/fiberglass shingles. Residents have access to common coin-operated laundry and off-street parking. The property was built in 1800, is zoned A, and is included in a 76-unit portfolio.
Key Highlights
- 8 units with 17 bedrooms
- Unit mix includes four 3BR, one 2BR, and three 1BR apartments
- 2 of 8 units are currently vacant
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
$96,424
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
7.42%
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%
$1,928,480
$1.9M
Cap Rate 7%
$1,377,486
$1.4M
Cap Rate 9%
$1,071,378
$1.1M
Market Conditions
NOI Build-Up for 7,262 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
$183.0K $25.20/SF
− Vacancy
−$7.7K −$1.06/SF
EGI
$175.3K $24.14/SF
− OpEx
−$78.9K −$10.86/SF
NOI
$96.4K $13.28/SF
Area
Franklin County, MA
Vacancy
4.20%
Lease Rate
$25.20 /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%
$1,928,480
Cap Rate 7%
$1,377,486
Cap Rate 9%
$1,071,378
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,424 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.01M
$2.63M – $3.51M
NOI $210,794 @ 7.0% cap · market cap 16.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 01364, MA
7,665
Population
3,435
Households
2.2
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
36.0 sq mi
ZIP Area
213
Density / Sq Mi
$54,061
Median Household Income
$37,525
Median Earnings
$745
Median Rent
$226,000
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?
Apartment building - Well-maintained apartment property with coin-operated laundry, off-street parking, and established building systems.
Where is this apartment building located?
The property is located at 166-168 W Main St Orange, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8 units with 17 bedrooms; Unit mix includes four 3BR, one 2BR, and three 1BR apartments; 2 of 8 units are currently vacant
