5-Unit Multifamily
For Sale
$999,000
26 Orchard St, Leominster, MA 01453
Three-story layout with separate utilities, common laundry, and off-street parking supports efficient tenant operations.
Property Size4,310 SF
Price / SF$231.79
Days on Market109
Property Features for 26 Orchard St
General Information
Standard status
Active
Size
4,310 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Zoning
RB
Net Operating Income
$100,800
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,875
Amenities
mini-split systems
intercom system
common laundry area
Building Details
Building Size
4,310 SF
Year Built
1890
Stories
5
Tenancy
Multi
Listing Agency:
J.M.I. Investment Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 16
Changed: Aug 30
Last Checked: Aug 31 at 1:28PM
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 J.M.I. Investment Properties
Investment Insights
Based on property information with market context.
This 5-unit multifamily property contains 4,310 square feet of living space across three stories. The building includes 9 bedrooms and 5 full bathrooms, with separate utilities serving the units. Interior features include mini-split systems, an intercom system, a common laundry area, and numerous updates. Nine off-street parking spaces provide on-site parking for occupants, and long-term tenants are already in place.
Built in 1890 and zoned RB, the property is located at 26 Orchard St in Leominster, Massachusetts. Shopping, restaurants, local amenities, and major routes are nearby, providing access to everyday services and area transportation connections.
Built in 1890 and zoned RB, the property is located at 26 Orchard St in Leominster, Massachusetts. Shopping, restaurants, local amenities, and major routes are nearby, providing access to everyday services and area transportation connections.
Key Highlights
- 5‑unit multifamily property with 4,310 square feet across three stories
- 9 bedrooms and 5 full bathrooms
- Separate utilities, mini‑split systems, and intercom system
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
$50,703
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
5.08%
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%
$1,014,060
$1.0M
Cap Rate 7%
$724,329
$724.3K
Cap Rate 9%
$563,367
$563.4K
Market Conditions
NOI Build-Up for 4,310 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
$94.6K $21.96/SF
− Vacancy
−$2.5K −$0.57/SF
EGI
$92.2K $21.39/SF
− OpEx
−$41.5K −$9.63/SF
NOI
$50.7K $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%
$1,014,060
Cap Rate 7%
$724,329
Cap Rate 9%
$563,367
Alternative Uses
Best Use
Apartment 5plus
$724.3K
$633.8K – $845.1K
NOI $50,703 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,026 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
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 - Three-story layout with separate utilities, common laundry, and off-street parking supports efficient tenant operations.
Where is this apartment building located?
The property is located at 26 Orchard St Leominster, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5‑unit multifamily property with 4,310 square feet across three stories; 9 bedrooms and 5 full bathrooms; Separate utilities, mini‑split systems, and intercom system
