Six-Unit Mixed-Use
New
For Sale
$2,900,000
5 Marlboro St, Belmont, MA 02478
Combines a three-family residence with a separate retail and office building in Belmont.
Property Size5,015 SF
Lot Size0.18 Acres
Days on Market6
Property Features for 5 Marlboro St
General Information
Standard status
Active
Size
5,015 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Zoning
MBTA 3A
Additional Details
Public Transit
Yes
Office Units
3
Building Details
Building Size
5,015 SF
Year Built
1900
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Gibson Commercial
(617) 908-6775
Listed By:
Albert Bouchie · License #9522540
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 6:21AM
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 Gibson Commercial
Investment Insights
Based on property information with market context.
This mixed-use portfolio at 5 Marlboro St and 171-173 Belmont includes a three-family residential building alongside a three-unit retail and office property. The multifamily component contains 5,015 SF, while the combined properties occupy an 8,000 SF lot. The buildings provide six units across residential, retail, and office uses, creating a varied physical configuration within one offering.
The property is in Belmont, Massachusetts, within the Greater Boston area and near Harvard’s campus. Public transportation provides access to Boston, while nearby eateries, shops, and green spaces add to the surrounding setting. Zoning is identified as MBTA 3A, with the properties also abutting and sitting within the new 1-a and MZOD4 zoning areas.
The property is in Belmont, Massachusetts, within the Greater Boston area and near Harvard’s campus. Public transportation provides access to Boston, while nearby eateries, shops, and green spaces add to the surrounding setting. Zoning is identified as MBTA 3A, with the properties also abutting and sitting within the new 1-a and MZOD4 zoning areas.
Key Highlights
- 5,015 SF multifamily component
- Six units across residential, retail, and office uses
- Three‑family residential building 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
$159,128
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
5.49%
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%
$3,182,560
$3.2M
Cap Rate 7%
$2,273,257
$2.3M
Cap Rate 9%
$1,768,089
$1.8M
Market Conditions
NOI Build-Up for 5,015 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
$272.0K $54.24/SF
− Vacancy
−$59.8K −$11.93/SF
EGI
$212.2K $42.31/SF
− OpEx
−$53.0K −$10.58/SF
NOI
$159.1K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$3,182,560
Cap Rate 7%
$2,273,257
Cap Rate 9%
$1,768,089
Alternative Uses
Best Use
Office B
$2.27M
$1.99M – $2.65M
NOI $159,128 @ 7.0% cap · market cap 5.49%
Second Best
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,119 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$2.97M
$2.60M – $3.46M
NOI $207,820 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a three-family residence with a separate retail and office building in Belmont.
Where is this mixed-use property located?
The property is located at 5 Marlboro St Belmont, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 5,015 SF multifamily component; Six units across residential, retail, and office uses; Three‑family residential building included
