Three-Unit Multifamily
New
For Sale
$699,900
179-181 Grant Street, Framingham, MA 01702
Multifamily property with varied unit sizes, separate electric service, and three off-street parking spaces.
Property Size1,800 SF
Price / SF$388.83
Days on Market5
Property Features for 179-181 Grant Street
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
3
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x efficiency, 1 x 1BR, 1 x 2BR
Multifamily Units
3
Amenities
hardwood flooring
ceiling fans
basement storage
washer/dryer hookup
Building Details
Year Built
1907
Listing Agency:
RE/MAX One Call Realty
Listed By:
John Pasciuti · License #9022929
(508) 397-1636
Source:
Inrealtyinc
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 9:29AM
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 One Call Realty
Investment Insights
Based on property information with market context.
Built in 1907, this three-unit multifamily property includes an efficiency unit, a one-bedroom unit, and a two-bedroom unit. The building has a newer heating system, separate electric services, vinyl siding, replacement windows, and three off-street parking spaces. Hardwood flooring appears in many rooms, while select rooms include ceiling fans. Basement storage and washer and dryer hookups add practical utility for the property.
The property is located at 179-181 Grant Street in Framingham, with parks, shopping, restaurants, highway access, and commuter rail service nearby.
The property is located at 179-181 Grant Street in Framingham, with parks, shopping, restaurants, highway access, and commuter rail service nearby.
Key Highlights
- Three‑unit configuration with efficiency, one‑bedroom, and two‑bedroom units
- New heating system and separate electric services
- Three off‑street parking spaces
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
$38,089
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
5.44%
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%
$761,780
$761.8K
Cap Rate 7%
$544,129
$544.1K
Cap Rate 9%
$423,211
$423.2K
Market Conditions
NOI Build-Up for 1,800 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
$57.2K $31.80/SF
− Vacancy
−$2.8K −$1.57/SF
EGI
$54.4K $30.23/SF
− OpEx
−$16.3K −$9.07/SF
NOI
$38.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$761,780
Cap Rate 7%
$544,129
Cap Rate 9%
$423,211
Alternative Uses
Best Use
Multifamily LT 5
$544.1K
$476.1K – $634.8K
NOI $38,089 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$511.6K
$447.7K – $596.9K
NOI $35,814 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
Median Home Value
Check the figures for this property
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?
Triplex - Multifamily property with varied unit sizes, separate electric service, and three off-street parking spaces.
Where is this triplex located?
The property is located at 179-181 Grant Street Framingham, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit configuration with efficiency, one‑bedroom, and two‑bedroom units; New heating system and separate electric services; Three off‑street parking spaces
