Building Details

Building Size 2,463 SF

Year Built 1850

Listing Agency: Keller Williams Realty Show Phone

Listed By: Rachael Chyten Show Phone

Source: Iverty

Added: Sep 29 Changed: Oct 4 Last Checked: Oct 5 at 6:41PM

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Investment Insights

Based on property information with market context.

This 2,463-square-foot multifamily property dates to 1850 and includes off-street parking. The roof and windows were replaced approximately six years ago.

Shopping, dining, schools, hiking, and major roadways are accessible from the property.

Key Highlights

• 2,463‑square‑foot multifamily property
• Off‑street parking
• Roof and windows replaced approximately six years ago

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,975

Cap Rate

7.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$579,500 $579.5K

Cap Rate 7%

$413,929 $413.9K

Cap Rate 9%

$321,944 $321.9K

Market Conditions

NOI Build-Up for 2,463 SF

Gross rent

$54.1K $21.96/SF

− Vacancy

−$1.4K −$0.57/SF

EGI

$52.7K $21.39/SF

− OpEx

−$23.7K −$9.63/SF

NOI

$29.0K $11.76/SF

Area

Worcester County, MA

Vacancy

2.60%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$579,500

Cap Rate 7%

$413,929

Cap Rate 9%

$321,944

Alternative Uses

Best Use

Apartment 5plus

$413.9K

$362.2K – $482.9K (±1% cap)

NOI $28,975 @ 7.0% cap · market cap 7.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$841.1K

$736.0K – $981.3K (±1% cap)

NOI $58,876 @ 7.0% cap · market cap 15.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Electrical Service Auto Parts Store Storage Facility (Bike/Boat/Book/etc) Store Building Supply Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 01083, MA

2,549

Population

1,171

Households

2.2

Avg Household Size

43

Median Age

38%

College-Educated

92%

High-School Grad

12.8 sq mi

ZIP Area

199

Density / Sq Mi

$92,558

Median Household Income

$46,289

Median Earnings

$375,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Roof and window replacements provide recent updates to this multifamily property.

Where is this multifamily property located?

The property is located at 43 Mechanic St Warren, MA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 2,463‑square‑foot multifamily property; Off‑street parking; Roof and windows replaced approximately six years ago