Renovated Multifamily
For Sale
$950,000
45 Summer Street, Natick, MA 01760
Vacant property with updated finishes and brand-new appliances near downtown amenities and regional transportation routes.
Property Size2,572 SF
Price / SF$369.36
Days on Market186
Property Features for 45 Summer Street
General Information
Standard status
Active
Size
2,572 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
brand-new appliances
Building Details
Year Built
1900
Listing Agency:
Five Stars Realty LLC
(860) 560-1500
Listed By:
Nanci Bermejo · License #9576136
(617) 875-4950
Source:
Sarkisboston
Added: Feb 25
Changed: Aug 29
Last Checked: Jun 11 at 3:05AM
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 Five Stars Realty LLC
Investment Insights
Based on property information with market context.
Located at 45 Summer St in Natick, this multifamily property was built in 1900 and has undergone a full renovation. The improvements include brand-new appliances, refreshed finishes, and additional updates throughout the property. It is currently vacant, allowing a buyer to determine the next occupancy plan, including living in one unit or leasing the property.
The property is near downtown Natick and offers access to Route 9, Route 27, the Mass Pike (I-90), and the Natick Center commuter rail. Shopping, restaurants, local businesses, and the Natick Mall are also nearby, placing daily amenities and transportation connections within the surrounding area.
The property is near downtown Natick and offers access to Route 9, Route 27, the Mass Pike (I-90), and the Natick Center commuter rail. Shopping, restaurants, local businesses, and the Natick Mall are also nearby, placing daily amenities and transportation connections within the surrounding area.
Key Highlights
- Fully renovated multifamily property at 45 Summer St, Natick, MA 01760
- Built in 1900 with updated finishes and improvements throughout
- Brand‑new appliances included
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
$51,174
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
5.39%
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%
$1,023,480
$1.0M
Cap Rate 7%
$731,057
$731.1K
Cap Rate 9%
$568,600
$568.6K
Market Conditions
NOI Build-Up for 2,572 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
$98.1K $38.16/SF
− Vacancy
−$5.1K −$1.98/SF
EGI
$93.0K $36.18/SF
− OpEx
−$41.9K −$16.28/SF
NOI
$51.2K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /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%
$1,023,480
Cap Rate 7%
$731,057
Cap Rate 9%
$568,600
Alternative Uses
Best Use
Apartment 5plus
$731.1K
$639.7K – $852.9K
NOI $51,174 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,583 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 01760, MA
36,659
Population
15,838
Households
2.3
Avg Household Size
42
Median Age
69%
College-Educated
98%
High-School Grad
14.8 sq mi
ZIP Area
2,477
Density / Sq Mi
$134,644
Median Household Income
$77,632
Median Earnings
$2,061
Median Rent
$740,700
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?
Multifamily property - Vacant property with updated finishes and brand-new appliances near downtown amenities and regional transportation routes.
Where is this multifamily property located?
The property is located at 45 Summer Street Natick, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Fully renovated multifamily property at 45 Summer St, Natick, MA 01760; Built in 1900 with updated finishes and improvements throughout; Brand‑new appliances included
