Triplex with Separate
New
For Sale
$499,900
51-53 Suffolk Street, Springfield, MA 01109
Vacant three-unit property with individual gas meters, private porches, a two-car garage, and fenced outdoor space.
Property Size3,455 SF
Price / SF$144.69
Days on Market7
Property Features for 51-53 Suffolk Street
General Information
Standard status
Active
Size
3,455 SF
Total Parking Spaces
2
Property subtype
Multi-family
Amenities
front porch
fenced yard
Building Details
Year Built
1923
Listing Agency:
Naples Realty Group
Listed By:
Juvil Medina
(413) 527-3375
Source:
Taylorrealtors
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 9:56AM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This 3,455-square-foot triplex, built in 1923, is fully vacant and arranged with three bedrooms and one full bath per unit. Each residence includes an open living and dining area, a kitchen, and a private front porch. Gas heat is separately metered for each unit. Interior finishes include white shaker cabinetry with soft-close hardware, granite countertops, tiled tub surrounds, waterproof vinyl flooring in kitchens, bathrooms, and third-floor areas, plus hardwood floors in first- and second-floor bedrooms, living rooms, and dining rooms.
The property also includes a two-car garage and fenced yard. Located at 51-53 Suffolk Street in Springfield, Massachusetts, the building offers a defined three-unit configuration with separate utility metering and dedicated exterior features for each residence.
The property also includes a two-car garage and fenced yard. Located at 51-53 Suffolk Street in Springfield, Massachusetts, the building offers a defined three-unit configuration with separate utility metering and dedicated exterior features for each residence.
Key Highlights
- 3,455 SF triplex built in 1923
- Fully vacant three‑unit property with 9 bedrooms and 3 full baths
- Separate gas meters and gas heat for each unit
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
$45,492
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
9.10%
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%
$909,840
$909.8K
Cap Rate 7%
$649,886
$649.9K
Cap Rate 9%
$505,467
$505.5K
Market Conditions
NOI Build-Up for 3,455 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
$87.1K $25.20/SF
− Vacancy
−$4.4K −$1.26/SF
EGI
$82.7K $23.94/SF
− OpEx
−$37.2K −$10.77/SF
NOI
$45.5K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /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%
$909,840
Cap Rate 7%
$649,886
Cap Rate 9%
$505,467
Alternative Uses
Best Use
Multifamily LT 5
$730.6K
$639.3K – $852.3K
NOI $51,140 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$649.9K
$568.7K – $758.2K
NOI $45,492 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$938.2K
$820.9K – $1.09M
NOI $65,673 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-unit property with individual gas meters, private porches, a two-car garage, and fenced outdoor space.
Where is this triplex located?
The property is located at 51-53 Suffolk Street Springfield, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,455 SF triplex built in 1923; Fully vacant three‑unit property with 9 bedrooms and 3 full baths; Separate gas meters and gas heat for each unit
