Triplex with Off-Street
New
For Sale
$699,900
179-181 Grant Street, Framingham, MA 01702
Residential Income, Framingham, MA
Property Size1,800 SF
Lot Size0.11 Acres
Price / SF$388.83
Days on Market2
Property Features for 179-181 Grant Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
G
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Parking
3
Directions
Concord Street to Pond Street to Grant Street
Standard status
Active
Size
1,800 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6811
Amenities
hardwood flooring
ceiling fans
basement storage
washer and dryer hook-up
Building Details
Year built
1907
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX One Call Realty · RE/MAX International
(508) 872-5553
Listed By:
Christopher Mahoney · License #9085267
(508) 654-3029
Added: Sep 9
Last Checked: Sep 10 at 3:06AM
MLS# 73574364
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot triplex, built in 1907, includes three residential units with varied layouts featuring efficiency, one-bedroom, and two-bedroom configurations. The property has a new heating system, separate electric services, vinyl siding, and energy-efficient replacement windows. Hardwood flooring is present in many rooms, while select rooms include ceiling fans.
The 0.1091-acre property provides three off-street parking spaces. Basement storage and washer and dryer hookups add practical utility for the residential configuration. The property is zoned G and located in Framingham, Massachusetts, near parks, shopping, restaurants, highway access, and commuter rail service.
The 0.1091-acre property provides three off-street parking spaces. Basement storage and washer and dryer hookups add practical utility for the residential configuration. The property is zoned G and located in Framingham, Massachusetts, near parks, shopping, restaurants, highway access, and commuter rail service.
Key Highlights
- 1,800‑square‑foot triplex on a 0.1091‑acre lot
- Three residential units with efficiency, one‑bedroom, and two‑bedroom layouts
- New heating system and separate electric services
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,026
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
View Realmo Analytics
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 - Well-maintained multifamily property with separate electric services, replacement windows, and basement storage.
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: 1,800‑square‑foot triplex on a 0.1091‑acre lot; Three residential units with efficiency, one‑bedroom, and two‑bedroom layouts; New heating system and separate electric services
