6-Unit Apartment
For Sale
$1,650,000
2-12 Chace Street, Clinton, MA 01510
Updated apartments on a corner lot with off-street parking and tenant-paid utilities.
Property Size4,986 SF
Price / SF$330.93
Days on Market256
Property Features for 2-12 Chace Street
General Information
Standard status
Active
Size
4,986 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR, 4 x 1BR
Multifamily Units
6
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Yannios R E Investment Sales
(781) 224-0081
Listed By:
James Yannios · License #9052901
(617) 696-6100
Source:
Kelleyrege
Added: Dec 18, 2025
Changed: Aug 29
Last Checked: Aug 30 at 5:19PM
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 Yannios R E Investment Sales
Investment Insights
Based on property information with market context.
This 6-unit apartment building was constructed in 1900 and includes two 2-bedroom units and four 1-bedroom units. The spacious apartments have been updated over the years and are described as being in good condition. Utilities are paid by the tenants, and off-street parking is available on the corner-lot property.
The unit mix provides a combination of 1-bedroom and 2-bedroom apartments within a single multifamily building. The property is located at 2-12 Chace St. in Clinton, Massachusetts.
The unit mix provides a combination of 1-bedroom and 2-bedroom apartments within a single multifamily building. The property is located at 2-12 Chace St. in Clinton, Massachusetts.
Key Highlights
- 6 units with a mix of 2- and 1‑bedroom apartments
- Two 2‑bedroom units and four 1‑bedroom units
- Corner‑lot property with off‑street parking
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
$58,655
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
3.55%
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%
$1,173,100
$1.2M
Cap Rate 7%
$837,929
$837.9K
Cap Rate 9%
$651,722
$651.7K
Market Conditions
NOI Build-Up for 4,986 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
$109.5K $21.96/SF
− Vacancy
−$2.8K −$0.57/SF
EGI
$106.6K $21.39/SF
− OpEx
−$48.0K −$9.63/SF
NOI
$58.7K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /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%
$1,173,100
Cap Rate 7%
$837,929
Cap Rate 9%
$651,722
Alternative Uses
Best Use
Apartment 5plus
$837.9K
$733.2K – $977.6K
NOI $58,655 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,185 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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?
Apartment building - Updated apartments on a corner lot with off-street parking and tenant-paid utilities.
Where is this apartment building located?
The property is located at 2-12 Chace Street Clinton, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6 units with a mix of 2- and 1‑bedroom apartments; Two 2‑bedroom units and four 1‑bedroom units; Corner‑lot property with off‑street parking
