Mixed-Use Income
For Sale
$849,000
41 Summer Street, Kingston, MA 02364
Mixed-use building with five income-producing units, including two commercial and three residential spaces, with separately metered utilities.
Property Size4,301 SF
Price / SF$197.40
Days on Market93
Property Features for 41 Summer Street
General Information
Standard status
Active
Size
4,301 SF
Property subtype
Commercial
Additional Details
Cap Rate
8%
Multifamily Units
3
Building Details
Year Built
1878
Tenancy
Multi
Listing Agency:
William Raveis R.E. & Homes Services
Listed By:
Anne E. Cresswell
(781) 933-7200
Source:
Jmulkerinrealty
Added: May 7
Changed: Jul 27
Last Checked: Aug 6 at 4:25AM
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 William Raveis R.E. & Homes Services
Investment Insights
Based on property information with market context.
41 Summer Street is a mixed-use income building featuring five income-producing units, including two commercial spaces and three residential units. The property has separately metered utilities, and both the commercial and residential areas have undergone recent renovations.
Located in downtown Kingston on the South Shore, the building is positioned near town offices and the library, with commuter rail access and Route 3 in the immediate area.
For tenants, buyers, and brokers looking for an established multi-unit structure with a split commercial/residential configuration, this property offers a straightforward setup and independently metered utilities across its units.
Located in downtown Kingston on the South Shore, the building is positioned near town offices and the library, with commuter rail access and Route 3 in the immediate area.
For tenants, buyers, and brokers looking for an established multi-unit structure with a split commercial/residential configuration, this property offers a straightforward setup and independently metered utilities across its units.
Key Highlights
- Five income‑producing units in a mixed‑use building: 2 commercial and 3 residential
- Year built: 1878
- Separately metered utilities for the commercial and residential spaces
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
$72,689
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
8.56%
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%
$1,453,780
$1.5M
Cap Rate 7%
$1,038,414
$1.0M
Cap Rate 9%
$807,656
$807.7K
Market Conditions
NOI Build-Up for 4,301 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
$109.7K $25.50/SF
− Vacancy
−$5.8K −$1.36/SF
EGI
$103.8K $24.14/SF
− OpEx
−$31.2K −$7.24/SF
NOI
$72.7K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$1,453,780
Cap Rate 7%
$1,038,414
Cap Rate 9%
$807,656
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$908.6K – $1.21M
NOI $72,689 @ 7.0% cap · market cap 8.56%
Second Best
Retail
$1.01M
$883.3K – $1.18M
NOI $70,667 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,232 @ 7.0% cap · market cap 20.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 02364, MA
13,708
Population
5,658
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
99%
High-School Grad
18.6 sq mi
ZIP Area
737
Density / Sq Mi
$115,863
Median Household Income
$59,955
Median Earnings
$1,157
Median Rent
$562,000
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?
Mixed-use property - Mixed-use building with five income-producing units, including two commercial and three residential spaces, with separately metered utilities.
Where is this mixed-use property located?
The property is located at 41 Summer Street Kingston, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Five income‑producing units in a mixed‑use building: 2 commercial and 3 residential; Year built: 1878; Separately metered utilities for the commercial and residential spaces
