Riverfront Multifamily
New
For Sale
$729,900
480 Hamilton St, Southbridge, MA 01550
Units feature hardwood floors, built-in cabinetry, porches, and off-street parking.
Property Size4,932 SF
Days on Market3
Property Features for 480 Hamilton St
General Information
Standard status
Active
Size
4,932 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,603
Amenities
hardwood floors
built-in cabinets
porches
Building Details
Building Size
4,932 SF
Year Built
1900
Stories
5
Units
5
Listed By:
Daniel A. Palacios
(508) 615-7811
Source:
Elliman
Added: Sep 11
Last Checked: Sep 13 at 9:03AM
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 Daniel A. Palacios
Investment Insights
Based on property information with market context.
Located at 480 Hamilton St in Southbridge Town, this multifamily property dates to 1900 and sits along a river with views. Each unit includes hardwood floors, built-in cabinets, a porch, and off-street parking.
The property has a rental history with long-term tenants and is being offered for the first time in 40 years. Walk Score is 81, described as Very Walkable, while Bike Score is 47, described as Somewhat Bikeable.
The property has a rental history with long-term tenants and is being offered for the first time in 40 years. Walk Score is 81, described as Very Walkable, while Bike Score is 47, described as Somewhat Bikeable.
Key Highlights
- Multifamily property at 480 Hamilton St, Southbridge Town, MA 01550
- Built in 1900 and situated along a river with views
- Each unit includes hardwood floors and built‑in cabinets
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
$58,020
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
7.95%
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%
$1,160,400
$1.2M
Cap Rate 7%
$828,857
$828.9K
Cap Rate 9%
$644,667
$644.7K
Market Conditions
NOI Build-Up for 4,932 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
$108.3K $21.96/SF
− Vacancy
−$2.8K −$0.57/SF
EGI
$105.5K $21.39/SF
− OpEx
−$47.5K −$9.63/SF
NOI
$58.0K $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 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%
$1,160,400
Cap Rate 7%
$828,857
Cap Rate 9%
$644,667
Alternative Uses
Best Use
Apartment 5plus
$828.9K
$725.3K – $967.0K
NOI $58,020 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,895 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Units feature hardwood floors, built-in cabinetry, porches, and off-street parking.
Where is this multifamily property located?
The property is located at 480 Hamilton St Southbridge, MA.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Multifamily property at 480 Hamilton St, Southbridge Town, MA 01550; Built in 1900 and situated along a river with views; Each unit includes hardwood floors and built‑in cabinets
