Triplex with Spacious
For Sale
$729,000
355 Palmer Avenue, Falmouth, MA 02540
Three residential units offer off-street parking, storage, and outdoor space near Falmouth services and recreation.
Property Size1,876 SF
Lot Size0.50 Acres
Price / SF$388.59
Days on Market32
Property Features for 355 Palmer Avenue
General Information
Standard status
Active
Size
1,876 SF
Total Parking Spaces
6
Lot size
0.50 Acres
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
yard
storage
Building Details
Year Built
1940
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
Listed By:
O'Neill Group
(617) 846-8000
Source:
Highlandre
Added: Jul 12
Changed: Aug 12
Last Checked: Aug 12 at 3:44AM
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 Berkshire Hathaway HomeServices Robert Paul Properties
Investment Insights
Based on property information with market context.
Built in 1940, this three-unit residential property includes 6 bedrooms and 3 full baths on a ½-acre lot. The site provides off-street parking for 4–6 vehicles, a spacious yard, and additional storage, supporting a range of residential occupancy arrangements.
The property is located at 355 Palmer Avenue in Falmouth, near Falmouth Hospital, the Shining Sea Bikeway, Steamship Authority parking, public transportation, downtown shopping, restaurants, beaches, and major commuter routes. Its three-unit configuration and established residential setting provide a practical foundation for multifamily ownership or shared residential use.
The property is located at 355 Palmer Avenue in Falmouth, near Falmouth Hospital, the Shining Sea Bikeway, Steamship Authority parking, public transportation, downtown shopping, restaurants, beaches, and major commuter routes. Its three-unit configuration and established residential setting provide a practical foundation for multifamily ownership or shared residential use.
Key Highlights
- Three residential units with 6 bedrooms and 3 full baths
- ½‑acre lot with a spacious yard and additional storage
- Off‑street parking for 4–6 vehicles
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
$41,819
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
5.74%
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%
$836,380
$836.4K
Cap Rate 7%
$597,414
$597.4K
Cap Rate 9%
$464,656
$464.7K
Market Conditions
NOI Build-Up for 1,876 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
$61.9K $33.00/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$59.7K $31.85/SF
− OpEx
−$17.9K −$9.55/SF
NOI
$41.8K $22.29/SF
Area
Barnstable County, MA
Vacancy
3.50%
Lease Rate
$33.00 /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%
$836,380
Cap Rate 7%
$597,414
Cap Rate 9%
$464,656
Alternative Uses
Best Use
Multifamily LT 5
$597.4K
$522.7K – $697.0K
NOI $41,819 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,592 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,514 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
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?
Triplex - Three residential units offer off-street parking, storage, and outdoor space near Falmouth services and recreation.
Where is this triplex located?
The property is located at 355 Palmer Avenue Falmouth, MA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Three residential units with 6 bedrooms and 3 full baths; ½‑acre lot with a spacious yard and additional storage; Off‑street parking for 4–6 vehicles
