Duplex with Mini-Split
New
For Sale
$625,000
600 Market Street, Rockland, MA 02370
One unit is vacant, while the second is occupied by tenants at will.
Property Size2,091 SF
Price / SF$298.90
Days on Market5
Property Features for 600 Market Street
General Information
Standard status
Active
Size
2,091 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Shore Real Estate LLC
Listed By:
Dream Team
(508) 867-2800
Source:
Miketoomeyrealestate
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 7:35PM
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 Shore Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,091-square-foot duplex, built in 1920, includes two residential units with differing occupancy and improvement profiles. The vacant unit has new mini-split systems, updated electrical work, new flooring, and a new kitchen. The property is positioned for completion and further improvement by a buyer.
The second unit is occupied by tenants at will, and those tenants are expected to remain with the property. Located at 600 Market Street in Rockland, the duplex is near the Hanover line.
The second unit is occupied by tenants at will, and those tenants are expected to remain with the property. Located at 600 Market Street in Rockland, the duplex is near the Hanover line.
Key Highlights
- 2,091‑square‑foot duplex built in 1920
- Vacant unit includes new mini‑split systems and updated electrical
- Vacant unit has new flooring and a new kitchen
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
$35,339
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
5.65%
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%
$706,780
$706.8K
Cap Rate 7%
$504,843
$504.8K
Cap Rate 9%
$392,656
$392.7K
Market Conditions
NOI Build-Up for 2,091 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
$53.3K $25.50/SF
− Vacancy
−$2.8K −$1.36/SF
EGI
$50.5K $24.14/SF
− OpEx
−$15.1K −$7.24/SF
NOI
$35.3K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$706,780
Cap Rate 7%
$504,843
Cap Rate 9%
$392,656
Alternative Uses
Best Use
Multifamily LT 5
$504.8K
$441.7K – $589.0K
NOI $35,339 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$465.3K
$407.1K – $542.8K
NOI $32,569 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,651 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 02370, MA
17,803
Population
7,046
Households
2.5
Avg Household Size
43
Median Age
34%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,780
Density / Sq Mi
$101,475
Median Household Income
$59,489
Median Earnings
$1,497
Median Rent
$452,300
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?
Duplex - One unit is vacant, while the second is occupied by tenants at will.
Where is this duplex located?
The property is located at 600 Market Street Rockland, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,091‑square‑foot duplex built in 1920; Vacant unit includes new mini‑split systems and updated electrical; Vacant unit has new flooring and a new kitchen
