Three-Unit Multifamily
New
For Sale
$484,900
175 Grattan, Chicopee, MA 01020
Three similarly configured residences offer covered outdoor space, private parking, and landlord-owned laundry appliances.
Property Size3,237 SF
Days on Market3
Property Features for 175 Grattan
General Information
Standard status
Active
Size
3,237 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Multifamily Units
3
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,013
Amenities
covered deck
washer/dryer
Building Details
Building Size
3,237 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
(508) 331-2721
Listed By:
Richard Lane
(508) 331-2721
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 2:38AM
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 Richard Lane
Investment Insights
Based on property information with market context.
Built in 1900, this three-unit multifamily property offers a consistent layout across the residences. Each unit includes bedrooms with windows, a large carpeted living room, and a bright eat-in kitchen with an alcove pantry. Covered deck areas extend the usable living space outdoors, while landlord-owned washers and dryers serve the property. Tenants are responsible for all utilities, and each unit is occupied under a tenant-at-will arrangement.
Off-street parking is provided at a rate of 1 vehicle per tenant, with additional street parking also available. The property has access to main highways, local shopping, and area dining. WalkScore is 17, BikeScore is 22, and TransitScore is 49.
Off-street parking is provided at a rate of 1 vehicle per tenant, with additional street parking also available. The property has access to main highways, local shopping, and area dining. WalkScore is 17, BikeScore is 22, and TransitScore is 49.
Key Highlights
- Three‑family property built in 1900
- Each unit includes windowed bedrooms, a large living room, and an eat‑in kitchen with alcove pantry
- Covered deck area provided for each residence
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
$42,397
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
8.74%
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%
$847,940
$847.9K
Cap Rate 7%
$605,671
$605.7K
Cap Rate 9%
$471,078
$471.1K
Market Conditions
NOI Build-Up for 3,237 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
$64.1K $19.80/SF
− Vacancy
−$3.5K −$1.09/SF
EGI
$60.6K $18.71/SF
− OpEx
−$18.2K −$5.61/SF
NOI
$42.4K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$847,940
Cap Rate 7%
$605,671
Cap Rate 9%
$471,078
Alternative Uses
Best Use
Multifamily LT 5
$605.7K
$530.0K – $706.6K
NOI $42,397 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$561.3K
$491.1K – $654.9K
NOI $39,291 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,652 @ 7.0% cap · market cap 28.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 01020, MA
29,781
Population
14,154
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
2,382
Density / Sq Mi
$70,971
Median Household Income
$45,378
Median Earnings
$1,153
Median Rent
$259,100
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?
Triplex - Three similarly configured residences offer covered outdoor space, private parking, and landlord-owned laundry appliances.
Where is this triplex located?
The property is located at 175 Grattan Chicopee, MA.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Three‑family property built in 1900; Each unit includes windowed bedrooms, a large living room, and an eat‑in kitchen with alcove pantry; Covered deck area provided for each residence
