Four-Unit Property with
New
For Sale
$639,900
32-34 Pearl Street, Chicopee, MA 01013
Chicopee property combines occupied lower-level units, renovated upper-level residences, and access to area shopping, dining, and major routes.
Property Size3,844 SF
Price / SF$166.47
Days on Market4
Property Features for 32-34 Pearl Street
General Information
Standard status
Active
Size
3,844 SF
Total Parking Spaces
4
Property subtype
Multi-family
Occupancy
50%
Additional Details
Multifamily Units
4
Building Details
Year Built
1880
Listing Agency:
Coldwell Banker Realty - Western MA
Listed By:
The Generation Group
(413) 586-7000
Source:
Gogginsrealestate
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 1 at 8:25PM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
Built in 1880, this four-unit property includes two occupied first-floor residences and two renovated units on the upper level. The upper units can accommodate new tenants or an owner occupant, while the existing occupancy provides an established rental component. Four garage stalls add parking, storage, and potential supplementary income options.
The property is located at 32-34 Pearl Street in Chicopee, Massachusetts, a short distance from Chicopee Center. Shopping, dining, area amenities, and major routes are accessible from the property, supporting both residential use and rental operations.
The property is located at 32-34 Pearl Street in Chicopee, Massachusetts, a short distance from Chicopee Center. Shopping, dining, area amenities, and major routes are accessible from the property, supporting both residential use and rental operations.
Key Highlights
- Four‑unit property at 32‑34 Pearl Street, Chicopee, MA 01013
- Two first‑floor units are currently occupied
- Two upper‑level units have been renovated
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
$50,348
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
7.87%
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%
$1,006,960
$1.0M
Cap Rate 7%
$719,257
$719.3K
Cap Rate 9%
$559,422
$559.4K
Market Conditions
NOI Build-Up for 3,844 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
$76.1K $19.80/SF
− Vacancy
−$4.2K −$1.09/SF
EGI
$71.9K $18.71/SF
− OpEx
−$21.6K −$5.61/SF
NOI
$50.3K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
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%
$1,006,960
Cap Rate 7%
$719,257
Cap Rate 9%
$559,422
Alternative Uses
Best Use
Multifamily LT 5
$719.3K
$629.4K – $839.1K
NOI $50,348 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$666.6K
$583.2K – $777.7K
NOI $46,659 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,839 @ 7.0% cap · market cap 25.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Explore this area
Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
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?
Quadplex - Chicopee property combines occupied lower-level units, renovated upper-level residences, and access to area shopping, dining, and major routes.
Where is this quadplex located?
The property is located at 32-34 Pearl Street Chicopee, MA.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Four‑unit property at 32‑34 Pearl Street, Chicopee, MA 01013; Two first‑floor units are currently occupied; Two upper‑level units have been renovated
