18-Unit Brick Apartment
For Sale
$5,750,000
32 Bradford St, Concord, MA 01742
Multifamily property with renovated apartments, updated common areas, off-street parking, and a new security system.
Property Size14,742 SF
Price / SF$390.04
Days on Market51
Property Features for 32 Bradford St
General Information
Standard status
Active
Size
14,742 SF
Total Parking Spaces
18
Property subtype
Residential Income
Zoning
WCB
Net Operating Income
$346,438
Units
Unit Mix
12 x 2BR, 5 x 1BR, 1 x studio
Multifamily Units
18
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$34,024
Building Details
Year Built
1955
Buildings
1
Construction
brick
Listing Agency:
J. Borstell Real Estate, Inc.
Listed By:
Patrick Hermans
Source:
Erealtyadvisors
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 25 at 3:41AM
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 J. Borstell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 18-unit brick apartment property was built in 1955 and includes a balanced mix of 12 two-bedroom apartments, 5 one-bedroom apartments, and 1 studio. The property also provides off-street parking. Improvements include updated common areas, a new security system, and a new roof, while 10 of the 18 apartments have been renovated.
Located at 32 Bradford Street in Concord, the building is steps from historic West Concord, with shops, restaurants, parks, and everyday amenities nearby. The setting also offers access to major routes and public transportation, supporting commuter convenience for residents.
Located at 32 Bradford Street in Concord, the building is steps from historic West Concord, with shops, restaurants, parks, and everyday amenities nearby. The setting also offers access to major routes and public transportation, supporting commuter convenience for residents.
Key Highlights
- 18‑unit brick apartment building built in 1955
- Unit mix includes 12 two‑bedroom, 5 one‑bedroom, and 1 studio apartment
- 10 of 18 units have been recently 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
$293,316
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
5.10%
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%
$5,866,320
$5.9M
Cap Rate 7%
$4,190,229
$4.2M
Cap Rate 9%
$3,259,067
$3.3M
Market Conditions
NOI Build-Up for 14,742 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
$562.6K $38.16/SF
− Vacancy
−$29.3K −$1.98/SF
EGI
$533.3K $36.18/SF
− OpEx
−$240.0K −$16.28/SF
NOI
$293.3K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$5,866,320
Cap Rate 7%
$4,190,229
Cap Rate 9%
$3,259,067
Alternative Uses
Best Use
Apartment 5plus
$4.19M
$3.67M – $4.89M
NOI $293,316 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.73M
$7.64M – $10.18M
NOI $610,905 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 01742, MA
18,545
Population
6,659
Households
2.8
Avg Household Size
47
Median Age
79%
College-Educated
96%
High-School Grad
24.1 sq mi
ZIP Area
770
Density / Sq Mi
$211,435
Median Household Income
$112,975
Median Earnings
$2,471
Median Rent
$1,139,200
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?
Apartment building - Multifamily property with renovated apartments, updated common areas, off-street parking, and a new security system.
Where is this apartment building located?
The property is located at 32 Bradford St Concord, MA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 18‑unit brick apartment building built in 1955; Unit mix includes 12 two‑bedroom, 5 one‑bedroom, and 1 studio apartment; 10 of 18 units have been recently renovated
