4-Unit Multifamily
For Sale
$595,000
27 Henry, Southbridge, MA 01550
Fully leased residential income property with varied apartment layouts and tenant-paid utilities.
Property Size3,609 SF
Price / SF$164.87
Days on Market10
Property Features for 27 Henry
General Information
Standard status
Active
Size
3,609 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
1 x studio, 1 x 3BR, 2 x 4BR
Multifamily Units
4
Additional Details
Gross Income
$79,500
Building Details
Year Built
1917
Listing Agency:
Cali Realty Group,Inc.
Listed By:
Joseph Cali
(413) 789-9830
Source:
Parksquarerealty
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 24 at 10:13AM
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 Cali Realty Group,Inc.
Investment Insights
Based on property information with market context.
Located at 27 Henry in Southbridge, this 3,609 SF multifamily property contains four apartments across three floors. The first floor includes a studio and a three-bedroom apartment, while the second and third floors each contain a four-bedroom apartment. Built in 1917, the building is fully leased, providing an occupied residential configuration with tenants responsible for their own utilities.
Key Highlights
- Four‑unit multifamily property at 27 Henry, Southbridge, MA 01550
- 3,609 SF building constructed in 1917
- Fully leased residential property
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
$48,785
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
8.20%
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%
$975,700
$975.7K
Cap Rate 7%
$696,929
$696.9K
Cap Rate 9%
$542,056
$542.1K
Market Conditions
NOI Build-Up for 3,609 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
$71.5K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$69.7K $19.31/SF
− OpEx
−$20.9K −$5.79/SF
NOI
$48.8K $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%
$975,700
Cap Rate 7%
$696,929
Cap Rate 9%
$542,056
Alternative Uses
Best Use
Multifamily LT 5
$696.9K
$609.8K – $813.1K
NOI $48,785 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$606.5K
$530.7K – $707.6K
NOI $42,456 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,270 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential income property with varied apartment layouts and tenant-paid utilities.
Where is this quadplex located?
The property is located at 27 Henry Southbridge, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 27 Henry, Southbridge, MA 01550; 3,609 SF building constructed in 1917; Fully leased residential property
