Fully Leased 11-Unit Apartment
For Sale
Contact for pricing
282-284 Suffolk St, Holyoke, MA 01040
Renovated units, on-site laundry, and a separate income-producing garage complement this multifamily property.
Property Size7,020 SF
Price / SF$185.19
Days on Market194
Property Features for 282-284 Suffolk St
General Information
Standard status
Active
Size
7,020 SF
Class
B
Property subtype
Multifamily
Zoning
RM-20 Multifamily Residential
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$98,975
Building Details
Year Built
1949
Buildings
1
Stories
3
Units
11
Listing Agency:
Jennings Real Estate
Listed By:
Jonathan Little · License #9519962
(413) 731-7770
Source:
Crexi
Added: Apr 7
Changed: Oct 2
Last Checked: Oct 16 at 9:04AM
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 Jennings Real Estate
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Investment Insights
Based on property information with market context.
This 11-unit apartment property at 282-284 Suffolk Street has been fully leased and includes a separate freestanding garage that generates additional income. The main residential building also offers on-site washer and dryer facilities for residents. Units have been renovated as occupancy changed, and a significant portion is master-leased to the Center for Human Development, a regional behavioral health organization providing community-based services. Constructed in 1949, the property is located near downtown Holyoke. The combination of residential apartments, dedicated laundry facilities, and a separate garage building creates a multi-component asset within the Holyoke multifamily market.
Key Highlights
- 11‑unit apartment property with all units fully leased
- Significant portion of apartments master‑leased to the Center for Human Development
- Separate freestanding garage building provides an additional income source
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,210
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,704,200
$1.7M
Cap Rate 7%
$1,217,286
$1.2M
Cap Rate 9%
$946,778
$946.8K
Market Conditions
NOI Build-Up for 7,020 SF
Gross rent
$163.4K $23.28/SF
− Vacancy
−$8.5K −$1.21/SF
EGI
$154.9K $22.07/SF
− OpEx
−$69.7K −$9.93/SF
NOI
$85.2K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,704,200
Cap Rate 7%
$1,217,286
Cap Rate 9%
$946,778
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,210 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,860 @ 7.0% cap · market cap 23.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated units, on-site laundry, and a separate income-producing garage complement this multifamily property.
Where is this apartment building located?
The property is located at 282-284 Suffolk St Holyoke, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 11‑unit apartment property with all units fully leased; Significant portion of apartments master‑leased to the Center for Human Development; Separate freestanding garage building provides an additional income source
