Fourplex with Development
For Sale
$2,200,000
Pending
40 High St, Acton, MA 01720
Four-unit property on 2.5 acres with preliminary approval for three additional building lots.
Property Size5,012 SF
Lot Size2.50 Acres
Days on Market28
Property Features for 40 High St
General Information
Standard status
Pending
Size
5,012 SF
Lot size
2.50 Acres
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,053
Building Details
Building Size
5,012 SF
Year Built
1896
Stories
5
Units
4
Listing Agency:
Aho Properties
(508) 868-0216
Listed By:
Joel Aho
(508) 868-0216
Source:
Elliman
Added: Jul 16
Changed: Aug 8
Last Checked: Jul 16 at 7:48PM
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 Aho Properties
Investment Insights
Based on property information with market context.
This four-unit (quadplex) property sits on 2.5 acres and includes preliminary approval for an additional three building lots. The building offers four separate units, each with separately metered utilities, its own gas furnace, and a separate gas water heater. Coin-operated washer and dryer are located in the basement, and two chimneys were lined last year.
A conceptual development plan is available in the documents, supporting consideration for redevelopment or mixed-use occupancy. The MLS listing also includes a link to a virtual tour and Matterport 3D tour.
Utilities are individually metered for each unit, providing independent service connections within the existing multi-family structure.
A conceptual development plan is available in the documents, supporting consideration for redevelopment or mixed-use occupancy. The MLS listing also includes a link to a virtual tour and Matterport 3D tour.
Utilities are individually metered for each unit, providing independent service connections within the existing multi-family structure.
Key Highlights
- Large four‑family on 2.5 acres with preliminary approval for an additional three building lots
- Each unit has separately metered utilities, including its own gas furnace and separate gas water heater
- Coin‑operated washer and dryer in the basement
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
$106,056
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
4.82%
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%
$2,121,120
$2.1M
Cap Rate 7%
$1,515,086
$1.5M
Cap Rate 9%
$1,178,400
$1.2M
Market Conditions
NOI Build-Up for 5,012 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
$159.4K $31.80/SF
− Vacancy
−$7.9K −$1.57/SF
EGI
$151.5K $30.23/SF
− OpEx
−$45.5K −$9.07/SF
NOI
$106.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$2,121,120
Cap Rate 7%
$1,515,086
Cap Rate 9%
$1,178,400
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,056 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$1.42M
$1.25M – $1.66M
NOI $99,722 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$2.97M
$2.60M – $3.46M
NOI $207,696 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 01720, MA
23,232
Population
8,937
Households
2.6
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
19.6 sq mi
ZIP Area
1,185
Density / Sq Mi
$154,101
Median Household Income
$79,774
Median Earnings
$1,908
Median Rent
$766,500
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 - Four-unit property on 2.5 acres with preliminary approval for three additional building lots.
Where is this quadplex located?
The property is located at 40 High St Acton, MA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Large four‑family on 2.5 acres with preliminary approval for an additional three building lots; Each unit has separately metered utilities, including its own gas furnace and separate gas water heater; Coin‑operated washer and dryer in the basement
