Building Details

Year Built 1900

Listing Agency: Conway - Hanover

Listed By: Linda Glennon · License #455023208 Show Phone

Source: Lindorealtygroup

Added: Sep 13, 2025 Changed: Oct 10 Last Checked: Oct 10 at 1:34AM

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Investment Insights

Based on property information with market context.

This multifamily property, offered for the first time in almost 80 years, features two buildings with a total of 7 or 8 units. Situated on a quiet street in Wellesley Square, it provides access to restaurants, boutique shops, the Commuter Rail, Wellesley College, and the Wellesley Library. The location offers access to Routes 16, 9, 95, and the Mass Pike. This property presents opportunities for investors or owner-occupants, with potential for long-term income and upside. It can be used as a rental property or for conversion.

Key Highlights

• Prime Wellesley Square location, steps from restaurants, shops, Commuter Rail, Wellesley College, and the library.
• Rare investment opportunity: two buildings with 7/8 units offered for the first time in almost 80 years.
• Excellent long‑term income potential and possibilities for investors or owner‑occupants.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$170,536

Cap Rate

5.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,410,720 $3.4M

Cap Rate 7%

$2,436,229 $2.4M

Cap Rate 9%

$1,894,844 $1.9M

Market Conditions

NOI Build-Up for 10,318 SF

Gross rent

$328.1K $31.80/SF

− Vacancy

−$18.0K −$1.75/SF

EGI

$310.1K $30.05/SF

− OpEx

−$139.5K −$13.52/SF

NOI

$170.5K $16.53/SF

Area

Norfolk County, MA

Vacancy

5.50%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,410,720

Cap Rate 7%

$2,436,229

Cap Rate 9%

$1,894,844

Alternative Uses

Best Use

Apartment 5plus

$2.44M

$2.13M – $2.84M (±1% cap)

NOI $170,536 @ 7.0% cap · market cap 5.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.11M

$5.34M – $7.13M (±1% cap)

NOI $427,575 @ 7.0% cap · market cap 12.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Electrical Service Grocery & Convenience Store Plumbing Service Garden Center Locksmith Auto Parts 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

1,376

Businesses Nearby

Explore this area Business Placement

Demographics for 02482, MA

10,710

Population

4,249

Households

2.5

Avg Household Size

44

Median Age

83%

College-Educated

99%

High-School Grad

3.7 sq mi

ZIP Area

2,895

Density / Sq Mi

$240,069

Median Household Income

$109,805

Median Earnings

$2,674

Median Rent

$1,255,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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What type of property is this? Where is this apartment buildings 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?

Apartment building - Two-building multifamily property in Wellesley Square, steps from amenities.

Where is this apartment building located?

The property is located at 5-7 Abbott Street Wellesley, MA.

What is the asking price?

The asking price for this property is $3,400,000.

What are key features of this property?

This property features: Prime Wellesley Square location, steps from restaurants, shops, Commuter Rail, Wellesley College, and the library.; Rare investment opportunity: two buildings with 7/8 units offered for the first time in almost 80 years.; Excellent long‑term income potential and possibilities for investors or owner‑occupants.