Three-Unit Mixed-Use
New
For Sale
$949,000
609 Newport Ave, Attleboro, MA 02703
Includes a commercial suite and two renovated residential apartments.
Property Size1,800 SF
Price / SF$527.22
Days on Market4
Property Features for 609 Newport Ave
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Office Units
1
Taxes and HOA fees
Annual Taxes
$8,000
Building Details
Year Built
1905
Listing Agency:
Keller Williams Realty Boston South West
Listed By:
Carol ElKurdi · License #9583985
(617) 543-1165
Source:
Elliman
Added: Sep 5
Last Checked: Sep 7 at 7:20AM
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 Keller Williams Realty Boston South West
Investment Insights
Based on property information with market context.
This three-unit mixed-use property includes an approximately 1,800 SF commercial unit and two renovated 2-bedroom residential units. The commercial space has multiple offices or work areas, reception and conference areas, a kitchenette, storage, bathrooms, and private entrances, supporting a range of professional or service-oriented configurations subject to zoning and municipal approvals. Both residential units are occupied and currently generate rental income.
A brand-new roof was installed in 2025. The property is located at 609 Newport Ave in Attleboro, with access to Route 1, MBTA commuter rail, shopping, restaurants, and major highway routes. Future conversion or redevelopment of the commercial area may be explored, but any change of use or additional residential configuration requires independent verification and applicable municipal approvals.
A brand-new roof was installed in 2025. The property is located at 609 Newport Ave in Attleboro, with access to Route 1, MBTA commuter rail, shopping, restaurants, and major highway routes. Future conversion or redevelopment of the commercial area may be explored, but any change of use or additional residential configuration requires independent verification and applicable municipal approvals.
Key Highlights
- Three‑unit mixed‑use property with 1 commercial unit and 2 residential units
- Approximately 1,800 SF commercial space with offices, reception, conference area, kitchenette, storage, and private entrances
- Two renovated 2‑bedroom residential units, both currently occupied
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
$29,895
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
3.15%
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%
$597,900
$597.9K
Cap Rate 7%
$427,071
$427.1K
Cap Rate 9%
$332,167
$332.2K
Market Conditions
NOI Build-Up for 1,800 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
$58.3K $32.40/SF
− Vacancy
−$4.0K −$2.20/SF
EGI
$54.4K $30.20/SF
− OpEx
−$24.5K −$13.59/SF
NOI
$29.9K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /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%
$597,900
Cap Rate 7%
$427,071
Cap Rate 9%
$332,167
Alternative Uses
Best Use
Apartment 5plus
$427.1K
$373.7K – $498.3K
NOI $29,895 @ 7.0% cap · market cap 3.15%
Second Best
Office B
$422.7K
$369.8K – $493.1K
NOI $29,586 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.10M
$959.2K – $1.28M
NOI $76,732 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 02703, MA
46,389
Population
19,014
Households
2.4
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
26.8 sq mi
ZIP Area
1,731
Density / Sq Mi
$93,352
Median Household Income
$51,637
Median Earnings
$1,446
Median Rent
$409,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a commercial suite and two renovated residential apartments.
Where is this mixed-use property located?
The property is located at 609 Newport Ave Attleboro, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property with 1 commercial unit and 2 residential units; Approximately 1,800 SF commercial space with offices, reception, conference area, kitchenette, storage, and private entrances; Two renovated 2‑bedroom residential units, both currently occupied
