Mixed-Use Building with
For Sale
$749,900
284 Broadway, Fall River, MA 02721
Turnkey mixed-use building with renovated street-level salon space plus two 3-bedroom apartments and four heated/cooled garage stalls.
Property Size3,608 SF
Price / SF$207.84
Days on Market120
Property Features for 284 Broadway
General Information
Standard status
Active
Size
3,608 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
A-2
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
3,608 SF
Year Built
1910
Stories
3
Tenancy
Multi
Listing Agency:
Divine Real Estate, Inc.
Listed By:
Zachary Midwood · License #451503605
(508) 207-5351
Source:
Cjbarrett
Added: May 9
Changed: Aug 23
Last Checked: Jul 21 at 4:18AM
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 Divine Real Estate, Inc.
Investment Insights
Based on property information with market context.
This turnkey mixed-use building offers a combination of street-level commercial space and two residential apartments. The first-floor unit is currently operating as a salon and has been nicely renovated, including heat and central A/C, a full bathroom, and a kitchenette. The property also includes four garage stalls equipped with mini-split systems that provide heating and cooling, supporting flexible storage or workshop use.
The second and third floors feature spacious 3-bedroom apartment layouts with tankless heating systems and separate utilities. The building is described as well-maintained and functional throughout.
Conveniently situated with easy access to highways and nearby shopping, restaurants, and local amenities, the property is positioned to serve both investors and owner-occupants seeking an income-producing mixed-use setup.
The second and third floors feature spacious 3-bedroom apartment layouts with tankless heating systems and separate utilities. The building is described as well-maintained and functional throughout.
Conveniently situated with easy access to highways and nearby shopping, restaurants, and local amenities, the property is positioned to serve both investors and owner-occupants seeking an income-producing mixed-use setup.
Key Highlights
- Mixed‑use property built in 1910 with street‑level commercial space plus two residential apartments.
- Street‑level salon space renovated with heat and central A/C, full bathroom, and kitchenette.
- Two apartments with spacious 3‑bedroom layouts; second and third floors have tankless heating systems and separate utilities.
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
$64,479
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
8.60%
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%
$1,289,580
$1.3M
Cap Rate 7%
$921,129
$921.1K
Cap Rate 9%
$716,433
$716.4K
Market Conditions
NOI Build-Up for 3,608 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
$99.6K $27.60/SF
− Vacancy
−$7.5K −$2.07/SF
EGI
$92.1K $25.53/SF
− OpEx
−$27.6K −$7.66/SF
NOI
$64.5K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$1,289,580
Cap Rate 7%
$921,129
Cap Rate 9%
$716,433
Alternative Uses
Best Use
Retail
$1.06M
$926.3K – $1.24M
NOI $74,101 @ 7.0% cap · market cap 9.88%
Second Best
Multifamily LT 5
$921.1K
$806.0K – $1.07M
NOI $64,479 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,805 @ 7.0% cap · market cap 20.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
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?
Mixed-use property - Turnkey mixed-use building with renovated street-level salon space plus two 3-bedroom apartments and four heated/cooled garage stalls.
Where is this mixed-use property located?
The property is located at 284 Broadway Fall River, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Mixed‑use property built in 1910 with street‑level commercial space plus two residential apartments.; Street‑level salon space renovated with heat and central A/C, full bathroom, and kitchenette.; Two apartments with spacious 3‑bedroom layouts; second and third floors have tankless heating systems and separate utilities.
