Three-Story Multifamily
For Sale
$389,000
54 Casino Avenue, Chicopee, MA 01013
Four-bedroom layout with three full bathrooms, oil-fired furnaces, and separate utilities.
Property Size2,736 SF
Lot Size0.19 Acres
Price / SF$142.18
Days on Market75
Property Features for 54 Casino Avenue
General Information
Standard status
Active
Size
2,736 SF
Total Parking Spaces
2
Lot size
0.19 Acres
Property subtype
Multi Family
Building Details
Year Built
1920
Stories
3
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 626-1878
Listed By:
Maria Rosario · License #9515243
(413) 626-1878
Source:
Lockandkeyre
Added: Jun 19
Changed: Aug 30
Last Checked: Aug 31 at 2:51PM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
Built in 1920, this three-story multifamily property contains 2,736 square feet with four bedrooms and three full bathrooms. The arrangement provides multiple levels of living space, while a two-car garage adds covered parking and storage. The property occupies an 8,328-square-foot lot and includes a newer roof, newer oil-fired furnaces, and separate utilities.
Key Highlights
- 2,736‑square‑foot multifamily property built in 1920
- Four bedrooms and three full bathrooms across three stories
- Two‑car garage for covered parking and storage
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
$33,210
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
8.54%
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%
$664,200
$664.2K
Cap Rate 7%
$474,429
$474.4K
Cap Rate 9%
$369,000
$369.0K
Market Conditions
NOI Build-Up for 2,736 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
$63.7K $23.28/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$60.4K $22.07/SF
− OpEx
−$27.2K −$9.93/SF
NOI
$33.2K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /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%
$664,200
Cap Rate 7%
$474,429
Cap Rate 9%
$369,000
Alternative Uses
Best Use
Apartment 5plus
$474.4K
$415.1K – $553.5K
NOI $33,210 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,038 @ 7.0% cap · market cap 30.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
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?
Multifamily property - Four-bedroom layout with three full bathrooms, oil-fired furnaces, and separate utilities.
Where is this multifamily property located?
The property is located at 54 Casino Avenue Chicopee, MA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2,736‑square‑foot multifamily property built in 1920; Four bedrooms and three full bathrooms across three stories; Two‑car garage for covered parking and storage
