Side-by-Side Duplex on Corner
New
For Sale
$875,000
46-48 Bridge Street, Watertown, MA 02472
Residential and mixed-use zoning sits across from a city park near Watertown Square and regional transportation connections.
Property Size3,767 SF
Lot Size0.21 Acres
Price / SF$232.28
Days on Market6
Property Features for 46-48 Bridge Street
General Information
Standard status
Active
Size
3,767 SF
Lot size
0.21 Acres
Property subtype
Multi-family
Site & Location
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1850
Listing Agency:
Cambridge Realty Group,Inc.
(617) 259-6651
Listed By:
Camila Dinamarca
(617) 259-6651
Source:
Cambridgerealty
Added: Aug 18
Changed: Aug 23
Last Checked: Aug 23 at 8:29AM
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 Cambridge Realty Group,Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex occupies a corner parcel at 46-48 Bridge Street in Watertown. The property was built in 1850 and sits on an approximately 9,095 SF lot with residential and mixed-use zoning. Its two-unit configuration provides a defined multifamily layout within an established residential setting.
A city park undergoing renovation is located across the street. The property is also near Watertown Square, the Charles River, public transportation, major roadways, shopping, dining, and additional parks and everyday amenities. Cambridge, Boston, and surrounding communities are described as minutes away, providing access to the broader Greater Boston area.
A city park undergoing renovation is located across the street. The property is also near Watertown Square, the Charles River, public transportation, major roadways, shopping, dining, and additional parks and everyday amenities. Cambridge, Boston, and surrounding communities are described as minutes away, providing access to the broader Greater Boston area.
Key Highlights
- Side‑by‑side duplex configuration
- Approximately 9,095 SF corner lot
- Residential and mixed‑use zoning
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
$79,711
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
9.11%
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%
$1,594,220
$1.6M
Cap Rate 7%
$1,138,729
$1.1M
Cap Rate 9%
$885,678
$885.7K
Market Conditions
NOI Build-Up for 3,767 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
$119.8K $31.80/SF
− Vacancy
−$5.9K −$1.57/SF
EGI
$113.9K $30.23/SF
− OpEx
−$34.2K −$9.07/SF
NOI
$79.7K $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%
$1,594,220
Cap Rate 7%
$1,138,729
Cap Rate 9%
$885,678
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$996.4K – $1.33M
NOI $79,711 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$1.07M
$936.9K – $1.25M
NOI $74,951 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,104 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
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?
Duplex - Residential and mixed-use zoning sits across from a city park near Watertown Square and regional transportation connections.
Where is this duplex located?
The property is located at 46-48 Bridge Street Watertown, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Side‑by‑side duplex configuration; Approximately 9,095 SF corner lot; Residential and mixed‑use zoning
