Building Details

Buildings 2

Listing Agency: Get Listed Realty, LLC Show Phone

Listed By: Kris Lippi · License #236519466 Show Phone

Source: Exprealty

Added: Aug 14 Changed: Oct 16 Last Checked: Oct 16 at 10:22AM

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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 Get Listed Realty, LLC

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2,582-square-foot duplex property at 311 Main St includes a two-family residence on two parcels. The offering also includes a separate barn/garage, an expansive parking area, and green space behind the home. Both parcels and buildings are included in the sale.

The residence was previously used as three units, although any future configuration or additional use would be subject to applicable approvals, zoning requirements, and buyer due diligence. The secondary structure provides additional enclosed space for storage, parking, hobbies, or similar uses.

Key Highlights

• Two 2,582‑square‑foot parcels included in the sale
• Two‑family residence with a prior three‑unit configuration
• Separate barn/garage included with the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,903

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,060 $698.1K

Cap Rate 7%

$498,614 $498.6K

Cap Rate 9%

$387,811 $387.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,582 SF

Gross rent

$51.1K $19.80/SF

− Vacancy

−$1.3K −$0.49/SF

EGI

$49.9K $19.31/SF

− OpEx

−$15.0K −$5.79/SF

NOI

$34.9K $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 Rate 5%

$698,060

Cap Rate 7%

$498,614

Cap Rate 9%

$387,811

Alternative Uses

Best Use

Multifamily LT 5

$498.6K

$436.3K – $581.7K (±1% cap)

NOI $34,903 @ 7.0% cap · market cap 6.59%

Second Best

Apartment 5plus

$433.9K

$379.7K – $506.3K (±1% cap)

NOI $30,375 @ 7.0% cap · market cap 5.73%

Theoretical Best

Office A

$881.7K

$771.5K – $1.03M (±1% cap)

NOI $61,720 @ 7.0% cap · market cap 11.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Auto Repair Shop Dental Office Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Includes two parcels, a barn/garage, off-street parking, and rear green space.

Where is this duplex located?

The property is located at 311 Main St Cherry Valley, MA.

What is the asking price?

The asking price for this property is $529,900.

What are key features of this property?

This property features: Two 2,582‑square‑foot parcels included in the sale; Two‑family residence with a prior three‑unit configuration; Separate barn/garage included with the property