Three-Unit Multifamily
New
For Sale
$669,900
23-25 Brigham Park, Fitchburg, MA 01420
Unit mix includes four-, two-, and one-bedroom layouts with laundry in each residence.
Property Size3,394 SF
Days on Market3
Property Features for 23-25 Brigham Park
General Information
Standard status
Active
Size
3,394 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,335
Building Details
Building Size
3,394 SF
Year Built
1910
Stories
4
Units
3
Listing Agency:
(617) 501-8512
Listed By:
Giselle Pajazetovic · License #77863
(617) 501-8512
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 8:02AM
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 Giselle Pajazetovic
Investment Insights
Based on property information with market context.
This 1910 triplex contains three residential units with varied layouts. The first-floor residence extends across the home and includes four bedrooms, 1.5 baths, central heat and air conditioning, in-unit laundry, a mudroom, and an updated kitchen with stainless steel appliances. Its fourth bedroom has a Philadelphia-style layout. The second-floor apartment provides one bedroom and one bath, electric heat, and in-unit laundry; it is currently vacant. The third unit offers two bedrooms, one bath, central heat and air conditioning, in-unit laundry with a washer and dryer, a pantry area, refrigerator, and electric range.
The property is located at 23-25 Brigham Park in Fitchburg’s Moran Square neighborhood, near downtown Fitchburg, Fitchburg State University, and the MBTA commuter rail station. Walk Score is 66, Transit Score is 47, and Bike Score is 46. Units 1 and 3 are occupied by tenants at will.
The property is located at 23-25 Brigham Park in Fitchburg’s Moran Square neighborhood, near downtown Fitchburg, Fitchburg State University, and the MBTA commuter rail station. Walk Score is 66, Transit Score is 47, and Bike Score is 46. Units 1 and 3 are occupied by tenants at will.
Key Highlights
- Three‑unit property with 4‑bedroom, 1‑bedroom, and 2‑bedroom residences
- First‑floor unit includes 4 bedrooms, 1.5 baths, central heat and air conditioning, and an updated kitchen
- Second‑floor 1‑bedroom unit is currently vacant
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
$45,879
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
6.85%
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%
$917,580
$917.6K
Cap Rate 7%
$655,414
$655.4K
Cap Rate 9%
$509,767
$509.8K
Market Conditions
NOI Build-Up for 3,394 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
$67.2K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$65.5K $19.31/SF
− OpEx
−$19.7K −$5.79/SF
NOI
$45.9K $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%
$917,580
Cap Rate 7%
$655,414
Cap Rate 9%
$509,767
Alternative Uses
Best Use
Multifamily LT 5
$655.4K
$573.5K – $764.7K
NOI $45,879 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$570.4K
$499.1K – $665.5K
NOI $39,927 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,130 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
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?
Triplex - Unit mix includes four-, two-, and one-bedroom layouts with laundry in each residence.
Where is this triplex located?
The property is located at 23-25 Brigham Park Fitchburg, MA.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Three‑unit property with 4‑bedroom, 1‑bedroom, and 2‑bedroom residences; First‑floor unit includes 4 bedrooms, 1.5 baths, central heat and air conditioning, and an updated kitchen; Second‑floor 1‑bedroom unit is currently vacant
