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 Market150
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 4 at 8:51AM
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
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
View Realmo Analytics
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?
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.
