Historic Mixed-Use Property with
For Sale
$375,000
31 North Street, Plymouth, MA 02360
DH zoning supports a street-level commercial component alongside two residential apartments.
Property Size3,029 SF
Price / SF$123.80
Days on Market162
Property Features for 31 North Street
General Information
Standard status
Active
Size
3,029 SF
Total Parking Spaces
2
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
DH
Property Condition
Severity
Repairs Needed
Evidence
ready for restoration
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,392
Amenities
City/Town Sewer, Public
No
2
Yes
3.0
Full, Concrete Floor
1
2.50
3
Frame
Porch
Bay, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
Building Details
Year Built
1750
Buildings
1
Listing Agency:
RE/MAX Real Estate Center
(508) 746-8402
Listed By:
Brenda Sutherland · License #9056508
(508) 746-8402
Source:
Compass
Added: Mar 25
Changed: Aug 31
Last Checked: Aug 30 at 8:10AM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1750, this 3029-square-foot mixed-use property combines historic construction with a three-unit configuration. The layout includes a commercial shop at street level, a one-bedroom apartment, and a two-bedroom apartment on the second floor. Original period elements remain throughout, and the property is offered as-is for restoration.
Located at 31 North Street in downtown Plymouth, the building is steps from Plymouth Rock and the harbor. DH mixed-use zoning supports a combination of commercial and residential occupancy. The property’s existing arrangement provides a defined framework for restoring a character-rich building while retaining both retail and apartment components.
Located at 31 North Street in downtown Plymouth, the building is steps from Plymouth Rock and the harbor. DH mixed-use zoning supports a combination of commercial and residential occupancy. The property’s existing arrangement provides a defined framework for restoring a character-rich building while retaining both retail and apartment components.
Key Highlights
- Three‑unit configuration with a street‑level commercial shop and two apartments
- 3029 SF mixed‑use property
- Residential layout includes one one‑bedroom apartment and one two‑bedroom apartment
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
$29,260
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
7.80%
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%
$585,200
$585.2K
Cap Rate 7%
$418,000
$418.0K
Cap Rate 9%
$325,111
$325.1K
Market Conditions
NOI Build-Up for 3,029 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
$50.9K $16.80/SF
− Vacancy
−$4.1K −$1.34/SF
EGI
$46.8K $15.46/SF
− OpEx
−$17.6K −$5.80/SF
NOI
$29.3K $9.66/SF
Area
Plymouth County, MA
Vacancy
8.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
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%
$585,200
Cap Rate 7%
$418,000
Cap Rate 9%
$325,111
Alternative Uses
Best Use
Retail
$711.0K
$622.1K – $829.5K
NOI $49,768 @ 7.0% cap · market cap 13.27%
Second Best
Apartment 5plus
$674.0K
$589.8K – $786.3K
NOI $47,180 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,521 @ 7.0% cap · market cap 33.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - DH zoning supports a street-level commercial component alongside two residential apartments.
Where is this mixed-use property located?
The property is located at 31 North Street Plymouth, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit configuration with a street‑level commercial shop and two apartments; 3029 SF mixed‑use property; Residential layout includes one one‑bedroom apartment and one two‑bedroom apartment
