Three-Unit Property with
New
For Sale
$525,000
39 Bell St, Chicopee, MA 01013
Two residences are leased, while the third-floor unit is available for occupancy or a new tenancy.
Property Size3,778 SF
Days on Market5
Property Features for 39 Bell St
General Information
Standard status
Active
Size
3,778 SF
Total Parking Spaces
1
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,479
Amenities
washer and dryer hookups
Building Details
Building Size
3,778 SF
Year Built
1929
Stories
3
Units
3
Listing Agency:
Naples Realty Group
Listed By:
Sheila Perez · License #9562673
(413) 313-8218
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 8:53AM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This triplex at 39 Bell St includes three residential units, with the first- and second-floor residences currently leased and the third-floor unit vacant. A garage is also rented separately, adding another occupied component to the property. Each unit has its own washer and dryer hookups, along with electric hot water and oil and gas heating. Built in 1929, the property offers a practical multifamily configuration with an available upper-level residence.
The building is positioned near Chicopee Center, with restaurants, shopping, daily services, and outdoor spaces within a short drive. Walk Score is 79, Transit Score is 50, and Bike Score is 47, providing additional context for access to surrounding amenities and transportation options.
The building is positioned near Chicopee Center, with restaurants, shopping, daily services, and outdoor spaces within a short drive. Walk Score is 79, Transit Score is 50, and Bike Score is 47, providing additional context for access to surrounding amenities and transportation options.
Key Highlights
- Three residential units in a triplex configuration
- First- and second‑floor units are currently rented
- Vacant third‑floor unit available for occupancy or leasing
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
$45,858
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
8.73%
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%
$917,160
$917.2K
Cap Rate 7%
$655,114
$655.1K
Cap Rate 9%
$509,533
$509.5K
Market Conditions
NOI Build-Up for 3,778 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
$88.0K $23.28/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$83.4K $22.07/SF
− OpEx
−$37.5K −$9.93/SF
NOI
$45.9K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /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%
$917,160
Cap Rate 7%
$655,114
Cap Rate 9%
$509,533
Alternative Uses
Best Use
Multifamily LT 5
$706.9K
$618.5K – $824.7K
NOI $49,483 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$655.1K
$573.2K – $764.3K
NOI $45,858 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,992 @ 7.0% cap · market cap 31.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
676
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Two residences are leased, while the third-floor unit is available for occupancy or a new tenancy.
Where is this triplex located?
The property is located at 39 Bell St Chicopee, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three residential units in a triplex configuration; First- and second‑floor units are currently rented; Vacant third‑floor unit available for occupancy or leasing
