Three-Story Multifamily
New
For Sale
$1,449,999
179 Atlantic Ave, Hull, MA 02045
Business-zoned waterfront residence with a basement-level garage and substantial outdoor space.
Property Size2,646 SF
Lot Size0.17 Acres
Price / SF$547
Days on Market4
Property Features for 179 Atlantic Ave
General Information
Standard status
Active
Size
2,646 SF
Total Parking Spaces
13
Lot size
0.17 Acres
Property subtype
Multi-Family
Zoning
BUS
Net Operating Income
$33,600
Taxes and HOA fees
Annual Taxes
$9,950
Amenities
basement level garage
waterfront
Building Details
Building Size
2,646 SF
Year Built
1993
Stories
3
Listing Agency:
Unicorn Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 8:00AM
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 Unicorn Realty
Investment Insights
Based on property information with market context.
Located at 179 Atlantic Ave in Hull, Massachusetts, this multifamily residence was constructed in 1993 and contains 2,646 square feet across three stories. The layout includes five bedrooms, three full bathrooms, and one half bathroom, providing a substantial residential configuration.
The property is zoned BUS and occupies a 7,553-square-foot lot in a waterfront setting. A basement-level garage adds enclosed parking and storage capacity, while the lot provides outdoor space associated with the residence.
The property is zoned BUS and occupies a 7,553-square-foot lot in a waterfront setting. A basement-level garage adds enclosed parking and storage capacity, while the lot provides outdoor space associated with the residence.
Key Highlights
- 2,646 square feet across three stories
- Five‑bedroom layout with 3 full bathrooms and 1 half bathroom
- Constructed in 1993
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
$41,214
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
2.84%
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%
$824,280
$824.3K
Cap Rate 7%
$588,771
$588.8K
Cap Rate 9%
$457,933
$457.9K
Market Conditions
NOI Build-Up for 2,646 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
$79.4K $30.00/SF
− Vacancy
−$4.4K −$1.68/SF
EGI
$74.9K $28.32/SF
− OpEx
−$33.7K −$12.74/SF
NOI
$41.2K $15.58/SF
Area
Plymouth County, MA
Vacancy
5.60%
Lease Rate
$30.00 /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%
$824,280
Cap Rate 7%
$588,771
Cap Rate 9%
$457,933
Alternative Uses
Best Use
Apartment 5plus
$588.8K
$515.2K – $686.9K
NOI $41,214 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,650 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 02045, MA
10,072
Population
5,733
Households
1.8
Avg Household Size
54
Median Age
52%
College-Educated
97%
High-School Grad
2.7 sq mi
ZIP Area
3,730
Density / Sq Mi
$127,112
Median Household Income
$63,327
Median Earnings
$1,885
Median Rent
$606,100
Median Home Value
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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?
Multifamily property - Business-zoned waterfront residence with a basement-level garage and substantial outdoor space.
Where is this multifamily property located?
The property is located at 179 Atlantic Ave Hull, MA.
What is the asking price?
The asking price for this property is $1,449,999.
What are key features of this property?
This property features: 2,646 square feet across three stories; Five‑bedroom layout with 3 full bathrooms and 1 half bathroom; Constructed in 1993
