Triplex with Garage and
For Sale
$525,000
27-a-b Grafton Street, Millbury, MA 01527
Three residential units include a larger owner-occupied layout and two one-bedroom apartments.
Property Size2,881 SF
Price / SF$182.23
Days on Market111
Property Features for 27-a-b Grafton Street
General Information
Standard status
Active
Size
2,881 SF
Total Parking Spaces
7
Property subtype
Multi-family / 3 Family
Zoning
s-3
Net Operating Income
$7,800
Taxes and HOA fees
Annual Taxes
$6,611
Amenities
No
Carpet, Varies, Laminate
Range, Dishwasher, Refrigerator, Washer, Dryer
6
Yes
4.0
Washer Hookup, Dryer Hookup, Washer & Dryer Hookup, Electric Dryer Hookup
Full, Interior Access, Garage Access
Walk-Up Attic, Bathroom with Shower Stall, Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen
3
1
3.50
4
Frame
Shingle
Cleared, Gentle Sloping
Porch, Porch - Enclosed, Patio
Porch, Enclosed, Patio
Building Details
Year Built
1858
Listing Agency:
Media Realty Group Elite
(855) 886-3342
Listed By:
Pamela Bott · License #9087607
(855) 886-3342
Source:
Compass
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 7:49AM
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 Media Realty Group Elite
Investment Insights
Based on property information with market context.
This 1858 triplex contains three residential units within a 2,881-square-foot property. The primary unit is owner occupied and spans two levels, with three to four bedrooms, one 3/4 bath, living and dining areas, a kitchen, and a walk-up attic. Two additional apartments each provide one bedroom and one bathroom, along with washer hookups and parlor heaters. Interior finishes include carpet and laminate, while appliances include ranges, dishwashers, refrigerators, washers, and dryers.
The property occupies 0.62 acres in Millbury and includes a patio, yard, enclosed porch, additional porch area, and a gentle-sloping cleared setting. A one-car garage beneath the building offers interior access, complemented by a two-vehicle carport and horseshoe-shaped driveway. The property is zoned s-3 and is located near the Town Center and Shoppes at Blackstone Valley, with highway access to Rte 20, 146, 290, and the Mass Pike.
The property occupies 0.62 acres in Millbury and includes a patio, yard, enclosed porch, additional porch area, and a gentle-sloping cleared setting. A one-car garage beneath the building offers interior access, complemented by a two-vehicle carport and horseshoe-shaped driveway. The property is zoned s-3 and is located near the Town Center and Shoppes at Blackstone Valley, with highway access to Rte 20, 146, 290, and the Mass Pike.
Key Highlights
- Three‑unit triplex with a 2,881‑square‑foot property size
- Primary unit is owner occupied with 3‑4 bedrooms and two levels of living space
- Two additional units each include 1 bedroom and 1 bathroom
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
$38,944
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
7.42%
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%
$778,880
$778.9K
Cap Rate 7%
$556,343
$556.3K
Cap Rate 9%
$432,711
$432.7K
Market Conditions
NOI Build-Up for 2,881 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
$57.0K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$55.6K $19.31/SF
− OpEx
−$16.7K −$5.79/SF
NOI
$38.9K $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%
$778,880
Cap Rate 7%
$556,343
Cap Rate 9%
$432,711
Alternative Uses
Best Use
Multifamily LT 5
$556.3K
$486.8K – $649.1K
NOI $38,944 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$484.2K
$423.7K – $564.9K
NOI $33,892 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$983.8K
$860.8K – $1.15M
NOI $68,867 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 01527, MA
13,799
Population
5,603
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
94%
High-School Grad
15.6 sq mi
ZIP Area
885
Density / Sq Mi
$116,000
Median Household Income
$62,911
Median Earnings
$1,507
Median Rent
$415,600
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 - Three residential units include a larger owner-occupied layout and two one-bedroom apartments.
Where is this triplex located?
The property is located at 27-a-b Grafton Street Millbury, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit triplex with a 2,881‑square‑foot property size; Primary unit is owner occupied with 3‑4 bedrooms and two levels of living space; Two additional units each include 1 bedroom and 1 bathroom
