Four-Unit Quadplex with In-Law
New
For Sale
$3,450,000
194 Oak St, Shrewsbury, MA 01545
2017 construction offers separate utilities, flexible suite layouts, and two-car garage parking.
Property Size11,028 SF
Days on Market3
Property Features for 194 Oak St
General Information
Standard status
Active
Size
11,028 SF
Total Parking Spaces
18
Property subtype
Residential Income
Zoning
RES B-
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$29,636
Building Details
Building Size
11,028 SF
Year Built
2017
Buildings
1
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Stuart St James, Inc.
(617) 320-4268
Listed By:
Zeyu Derek Liu
(617) 320-4268
Source:
Liongatere
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 19 at 3:30PM
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 Stuart St James, Inc.
Investment Insights
Based on property information with market context.
Built in 2017, this four-unit townhouse property combines residential layouts with separate in-law suites. Each unit is configured with four bedrooms and five baths, including an upper level with three bedrooms, a den or office, three full baths, and a primary suite with a private bath and walk-in closet. The lower suite has its own entrance, full kitchen, one bedroom, and two full baths.
Interior features include stainless steel appliances, granite countertops, family and living areas, gas fireplaces, decks, and central air conditioning and heating. Each unit also includes two sets of washers and dryers, while the property provides two-car garages. Utilities are separately metered. The property is fully leased, with one unit potentially available for owner occupancy. It is near Route 9, UMass Medical School, the Biotech Park Area, a hospital, and shopping plazas.
Interior features include stainless steel appliances, granite countertops, family and living areas, gas fireplaces, decks, and central air conditioning and heating. Each unit also includes two sets of washers and dryers, while the property provides two-car garages. Utilities are separately metered. The property is fully leased, with one unit potentially available for owner occupancy. It is near Route 9, UMass Medical School, the Biotech Park Area, a hospital, and shopping plazas.
Key Highlights
- Four‑unit townhouse property built in 2017
- Each unit includes 4 beds and 5 baths
- Separate‑entry in‑law suite with full kitchen, 1 bedroom, and 2 full baths
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
$149,073
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
4.32%
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%
$2,981,460
$3.0M
Cap Rate 7%
$2,129,614
$2.1M
Cap Rate 9%
$1,656,367
$1.7M
Market Conditions
NOI Build-Up for 11,028 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
$218.4K $19.80/SF
− Vacancy
−$5.4K −$0.49/SF
EGI
$213.0K $19.31/SF
− OpEx
−$63.9K −$5.79/SF
NOI
$149.1K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
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%
$2,981,460
Cap Rate 7%
$2,129,614
Cap Rate 9%
$1,656,367
Alternative Uses
Best Use
Multifamily LT 5
$2.13M
$1.86M – $2.48M
NOI $149,073 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,733 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$3.77M
$3.30M – $4.39M
NOI $263,613 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 01545, MA
38,316
Population
15,318
Households
2.5
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$136,225
Median Household Income
$74,718
Median Earnings
$2,046
Median Rent
$555,500
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?
Quadplex - 2017 construction offers separate utilities, flexible suite layouts, and two-car garage parking.
Where is this quadplex located?
The property is located at 194 Oak St Shrewsbury, MA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Four‑unit townhouse property built in 2017; Each unit includes 4 beds and 5 baths; Separate‑entry in‑law suite with full kitchen, 1 bedroom, and 2 full baths
