Four-Unit Residential
New
For Sale
$849,900
60 Briggs St, New Bedford, MA 02740
The building contains four separate dwellings in New Bedford’s South End.
Property Size4,103 SF
Days on Market4
Property Features for 60 Briggs St
General Information
Standard status
Active
Size
4,103 SF
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,975
Building Details
Building Size
4,103 SF
Year Built
1909
Listing Agency:
Coastal Realty
Listed By:
Stephen Ferreira
(508) 328-4551
Source:
Classifiedrealtygroup
Added: Sep 24
Last Checked: Sep 26 at 4:08AM
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 Coastal Realty
Investment Insights
Based on property information with market context.
Built in 1909, this residential property is configured as four distinct units. Its four-unit layout supports separate residential occupancy within one building.
The property is located in New Bedford’s South End, with shopping, restaurants, schools, public transportation, and major routes nearby.
The property is located in New Bedford’s South End, with shopping, restaurants, schools, public transportation, and major routes nearby.
Key Highlights
- Four separate residential units
- Built in 1909
- Located in New Bedford’s South End
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
$58,979
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
6.94%
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%
$1,179,580
$1.2M
Cap Rate 7%
$842,557
$842.6K
Cap Rate 9%
$655,322
$655.3K
Market Conditions
NOI Build-Up for 4,103 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
$91.1K $22.20/SF
− Vacancy
−$6.8K −$1.67/SF
EGI
$84.3K $20.54/SF
− OpEx
−$25.3K −$6.16/SF
NOI
$59.0K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,179,580
Cap Rate 7%
$842,557
Cap Rate 9%
$655,322
Alternative Uses
Best Use
Multifamily LT 5
$842.6K
$737.2K – $983.0K
NOI $58,979 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$773.5K
$676.8K – $902.4K
NOI $54,146 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,686 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The building contains four separate dwellings in New Bedford’s South End.
Where is this quadplex located?
The property is located at 60 Briggs St New Bedford, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Four separate residential units; Built in 1909; Located in New Bedford’s South End
