Building Details

Buildings 1

Listing Agency: REMAX Andrew Realty Services Show Phone

Listed By: Shlomi Geva Show Phone

Source: Exprealty

Added: Aug 7 Changed: Aug 16 Last Checked: Aug 16 at 3:28AM

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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 REMAX Andrew Realty Services

Investment Insights

Based on property information with market context.

This newly constructed duplex at 65 Dunstable Rd comprises two separately deeded condominium units and 4,738 SF of property. Each residence extends across four levels, with an open main floor combining the kitchen, dining area, and living room. The living space connects to a private deck, while additional bonus rooms can accommodate office, media, gym, or guest uses. Both units include two bedrooms, in-unit laundry, an attached one-car garage, and a covered patio.

Located in North Chelmsford, the property supports multiple ownership and occupancy arrangements. The two condominium units can be held together, occupied separately, or considered individually, subject to applicable condominium and market requirements. The configuration also accommodates living in one unit while renting the other or leasing both residences.

Key Highlights

• Two separately deeded condominium units
• 4,738 SF duplex with four levels per unit
• Newly constructed two‑family property

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

$100,258

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

6.97%

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%

$2,005,160 $2.0M

Cap Rate 7%

$1,432,257 $1.4M

Cap Rate 9%

$1,113,978 $1.1M

Market Conditions

NOI Build-Up for 4,738 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

$150.7K $31.80/SF

− Vacancy

−$7.4K −$1.57/SF

EGI

$143.2K $30.23/SF

− OpEx

−$43.0K −$9.07/SF

NOI

$100.3K $21.16/SF

Area

Middlesex County, MA

Vacancy

4.94%

Lease Rate

$31.80 /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%

$2,005,160

Cap Rate 7%

$1,432,257

Cap Rate 9%

$1,113,978

Alternative Uses

Best Use

Multifamily LT 5

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,258 @ 7.0% cap · market cap 6.97%

Second Best

Apartment 5plus

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,270 @ 7.0% cap · market cap 6.56%

Theoretical Best

Office A

$2.80M

$2.45M – $3.27M (±1% cap)

NOI $196,342 @ 7.0% cap · market cap 13.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Big Box & Wholesale Store Auto Repair Shop Building Supply Storage Facility HVAC Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

261

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two condominium units provide separate ownership and flexible occupancy options.

Where is this duplex located?

The property is located at 65 Dunstable Rd North Chelmsford, MA.

What is the asking price?

The asking price for this property is $1,438,000.

What are key features of this property?

This property features: Two separately deeded condominium units; 4,738 SF duplex with four levels per unit; Newly constructed two‑family property