Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    172 Mechanic St Southbridge, MA 1550

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $440,000

    Three-unit multifamily property in Southbridge with separate utilities.

    Type:Investment
    Property size:
    1,400 SF
    Added:
    Apr 14, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 14 at 6:50 am

    Property Features for 172 Mechanic St

    General Information

    Standard status
    Active
    Size
    1,400 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Darrell Alexander

    Listing agent Darrell Alexander

    Listing office

    Listing date Apr 14, 2026

    Source Elliman

    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 Darrell Alexander

    Overview

    Southbridge Triplex with Investment Potential

    This multifamily property features three apartments, each with three bedrooms and one bathroom, offering 1400 sq ft of living space. Each unit has separate utilities. Located within walking distance to stores, a park, walking trails, Main Street shopping, banking, and eating establishments. The property requires updating. All units will be vacant upon closing, allowing for new tenant selection. Rental income in Southbridge for three-bedroom apartments ranges from $1900 to $2600 a month. The property is somewhat bikeable with a bike score of 28 and car-dependent with a walk score of 36.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Southbridge
    County
    Worcester
    State
    Massachusetts
    Longitude
    -72.0269453
    Latitude
    42.0783498

    Nearby Similar for Sale

    • $399,900
      2,304 SF

      Spacious Two-Family Home

      Two large units on a sizable lot.
      20 Golf St., Southbridge, MA 01550
      View Details
    • $475,000
      9,536 SF

      Historic Office Building For Sale

      9,536 SF office building in Southbridge, Massachusetts.
      25 Elm St, Southbridge, MA 01550
      View Details
    • $475,000
      9,536 SF

      Historic Office Building For Sale

      9,536 SF office building in Southbridge, Massachusetts.
      25 Elm St, Southbridge, MA 01550
      View Details
    • $495,000
      8,937 SF

      Downtown Southbridge Vintage Office Building

      Classic office building in downtown Southbridge, suitable for various uses.
      330 Main St, Southbridge, MA 01550
      View Details
    • $750,000

      Downtown Southbridge Office Building

      Three-story office building with a private club/bar in Southbridge.
      326 Main St, Southbridge, MA 01550
      View Details
    • $399,900
      2,304 SF

      Mid-Century Two-Family Home

      Spacious two-family home with large units and updated features.
      20 Golf St., Southbridge Town, MA 01550
      View Details
    • $750,000
      17,432 SF

      Downtown Southbridge Office Building

      Three-story office building with a private club/bar in Southbridge.
      326 Main St, Southbridge, MA 01550
      View Details
    • $539,000
      4,500 SF

      Renovated Southbridge Multifamily Property

      Oversized, renovated 3-family with 10 bedrooms near downtown Southbridge.
      77 Off Hamilton St, Southbridge Town, MA 01550
      View Details
    • $629,000

      Southbridge Multi-Family Investment Opportunity

      Four-unit property with renovated owner-occupant unit and value-add potential.
      12 Cohasse St, Southbridge Town, MA 01550
      View Details
    • $569,000

      New Construction Home with ADU

      New construction home with ADU unit for additional income.
      104 Hilltop Dr, Southbridge Town, MA 01550
      View Details
    • $2,300,000

      Updated Multifamily Complex For Sale

      Updated multifamily complex with commercial building and excellent rental history.
      9-11,17-19 Summer St, Southbridge Town, MA 01550
      View Details
    • $495,000
      8,937 SF

      Downtown Southbridge Vintage Office Building

      Vintage office building in downtown Southbridge, suitable for office use.
      330-334 Main St, Southbridge, MA
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit multifamily property in Southbridge with separate utilities.
    Where is this triplex located?
    The property is located at 172 Mechanic St Southbridge, MA.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: Three spacious 3‑bedroom, 1‑bath apartments, each with 1400 sq ft of living space.; All units have separate utilities.; All units will be vacant upon closing, allowing for immediate tenant selection and rent optimization.
    (508) 581-0782
    We can help!
    Listing Contact
    Darrell Alexander
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!