Multifamily Compound for
For Sale
Contact for pricing
50-70 Grove Street, Clinton, MA 01510
22-unit multifamily property with high cash flow and parking.
Property Size26,000 SF
Price / SF$250
Days on Market162
Property Features for 50-70 Grove Street
General Information
Standard status
Active
Size
26,000 SF
Total Parking Spaces
50
Property subtype
Multifamily
Building Details
Buildings
4
Units
22
Tenancy
Multi
Listing Agency:
RE/MAX JOURNEY
Listed By:
John Hogan · License #MA
(978) 807-9892
Source:
Crexi
Added: May 9
Changed: Oct 2
Last Checked: Oct 16 at 8:35AM
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 RE/MAX JOURNEY
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property, offered for sale, comprises 22 units and presents a potential opportunity for future condo conversion. The property is characterized by high cash flow. Each of the 22 units includes in-unit laundry facilities and off-street parking. Tenants are responsible for covering their own utility expenses. The property has a size of 26000 square feet.
Key Highlights
- High cash flow awaits the savvy investor.
- Opportunity for future condo conversion.
- All 22 units include the convenience of off‑street parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$305,863
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,117,260
$6.1M
Cap Rate 7%
$4,369,471
$4.4M
Cap Rate 9%
$3,398,478
$3.4M
Market Conditions
NOI Build-Up for 26,000 SF
Gross rent
$571.0K $21.96/SF
− Vacancy
−$14.8K −$0.57/SF
EGI
$556.1K $21.39/SF
− OpEx
−$250.3K −$9.63/SF
NOI
$305.9K $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 Rate 5%
$6,117,260
Cap Rate 7%
$4,369,471
Cap Rate 9%
$3,398,478
Alternative Uses
Best Use
Apartment 5plus
$4.37M
$3.82M – $5.10M
NOI $305,863 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.88M
$7.77M – $10.36M
NOI $621,504 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - 22-unit multifamily property with high cash flow and parking.
Where is this apartment building located?
The property is located at 50-70 Grove Street Clinton, MA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: High cash flow awaits the savvy investor.; Opportunity for future condo conversion.; All 22 units include the convenience of off‑street parking.
