Building Details

Building Size 1,998 SF

Year Built 1964

Buildings 1

Listing Agency: Mega Realty Services Show Phone

Listed By: Matheus Goncalves · License #9569985 Show Phone

Source: Iverty

Added: Aug 26 Changed: Oct 13 Last Checked: Oct 12 at 7:57PM

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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 Mega Realty Services

Investment Insights

Based on property information with market context.

Built in 1964, this triplex contains two units currently configured with two bedrooms each and a third unit used as a one-bedroom residence. The bedrooms are described as generously sized, and two units include private decks that have been recently renovated and reinforced. The property also offers ample parking and a spacious yard, adding practical outdoor area to the residential improvements.

Located at 251 Main St in Ashland, the property provides a three-unit configuration suited to residential income use or an owner-occupant arrangement, as described in the listing information.

Key Highlights

• Three‑family property with two two‑bedroom units and one one‑bedroom unit
• Two private decks recently renovated and reinforced
• Generously sized bedrooms across the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,278

Cap Rate

5.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$845,560 $845.6K

Cap Rate 7%

$603,971 $604.0K

Cap Rate 9%

$469,756 $469.8K

Market Conditions

NOI Build-Up for 1,998 SF

Gross rent

$63.5K $31.80/SF

− Vacancy

−$3.1K −$1.57/SF

EGI

$60.4K $30.23/SF

− OpEx

−$18.1K −$9.07/SF

NOI

$42.3K $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 Rate 5%

$845,560

Cap Rate 7%

$603,971

Cap Rate 9%

$469,756

Alternative Uses

Best Use

Multifamily LT 5

$604.0K

$528.5K – $704.6K (±1% cap)

NOI $42,278 @ 7.0% cap · market cap 5.29%

Second Best

Apartment 5plus

$567.9K

$496.9K – $662.6K (±1% cap)

NOI $39,753 @ 7.0% cap · market cap 4.97%

Theoretical Best

Office A

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,797 @ 7.0% cap · market cap 10.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store Barber Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

577

Businesses Nearby

Explore this area Business Placement

Demographics for 01721, MA

18,832

Population

7,995

Households

2.4

Avg Household Size

42

Median Age

59%

College-Educated

98%

High-School Grad

12.3 sq mi

ZIP Area

1,531

Density / Sq Mi

$127,106

Median Household Income

$71,797

Median Earnings

$2,334

Median Rent

$586,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three-family property with a flexible unit mix, sizable bedrooms, outdoor space, parking, and a spacious yard in Ashland.

Where is this triplex located?

The property is located at 251 Main St Ashland, MA.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: Three‑family property with two two‑bedroom units and one one‑bedroom unit; Two private decks recently renovated and reinforced; Generously sized bedrooms across the property