Renovated Quadplex with Private
For Sale
$2,300,000
422 Mcgrath Highway, Somerville, MA 02143
Four separately metered residences combine private access, central air conditioning, and in-unit laundry.
Property Size4,725 SF
Price / SF$486.77
Days on Market72
Property Features for 422 Mcgrath Highway
General Information
Standard status
Active
Size
4,725 SF
Property subtype
Multi-Family
Zoning
UR
Net Operating Income
$115,126
Taxes and HOA fees
Annual Taxes
$16,755
Building Details
Building Size
4,725 SF
Year Built
1920
Stories
4
Listing Agency:
CRG Commercial
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 22
Changed: Aug 30
Last Checked: Aug 31 at 12:48PM
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 CRG Commercial
Investment Insights
Based on property information with market context.
This 4,725-square-foot quadplex in Somerville contains two three-bedroom, two-bath residences and two four-bedroom, two-bath residences. Each unit has direct private entry, central air conditioning, in-unit laundry, and rear outdoor space. The building was gut renovated in 2016, and utilities are separately metered. Gas and electric expenses are paid by the tenants.
Built in 1920 and zoned UR, the property is located on McGrath Highway with access to Cambridge, Boston, Assembly Row, Union Square, and Kendall Square. The surrounding area also provides proximity to major employers, universities, public transportation, shopping, dining, and entertainment.
Built in 1920 and zoned UR, the property is located on McGrath Highway with access to Cambridge, Boston, Assembly Row, Union Square, and Kendall Square. The surrounding area also provides proximity to major employers, universities, public transportation, shopping, dining, and entertainment.
Key Highlights
- 4,725 SF quadplex with two 3‑bedroom and two 4‑bedroom units
- Gut renovated in 2016
- Every residence offers private direct‑entry access
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
$99,983
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
4.35%
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%
$1,999,660
$2.0M
Cap Rate 7%
$1,428,329
$1.4M
Cap Rate 9%
$1,110,922
$1.1M
Market Conditions
NOI Build-Up for 4,725 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
$150.3K $31.80/SF
− Vacancy
−$7.4K −$1.57/SF
EGI
$142.8K $30.23/SF
− OpEx
−$42.8K −$9.07/SF
NOI
$100.0K $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%
$1,999,660
Cap Rate 7%
$1,428,329
Cap Rate 9%
$1,110,922
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $99,983 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,012 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,803 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
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?
Quadplex - Four separately metered residences combine private access, central air conditioning, and in-unit laundry.
Where is this quadplex located?
The property is located at 422 Mcgrath Highway Somerville, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 4,725 SF quadplex with two 3‑bedroom and two 4‑bedroom units; Gut renovated in 2016; Every residence offers private direct‑entry access
