Three-Unit Income Property with
For Sale
Contact for pricing
67 North Street, Hingham, MA 02043
Updated three-unit building with two off-street parking spaces per unit and a vacant two-bedroom ready to occupy.
Property Size3,688 SF
Price / SF$596.26
Days on Market64
Property Features for 67 North Street
General Information
Standard status
Active
Size
3,688 SF
Class
A
Total Parking Spaces
6
Property subtype
Retail, Multifamily
Zoning
B
Occupancy
67%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$84,000
Additional Details
Multifamily Units
3
Building Details
Year Built
1840
Units
3
Tenancy
Multi
Listing Agency:
Charles King Group
Listed By:
John Primpas · License #9589519
Source:
Crexi
Added: Jun 10
Changed: Aug 7
Last Checked: Aug 11 at 9:22AM
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 Charles King Group
Investment Insights
Based on property information with market context.
This three-family property was built circa 1840 and offers three separate two-bedroom units in a preserved, well-maintained layout. Units include central air conditioning, gas heat, and in-unit washer/dryer. Finishes feature hardwood floors along with tile, supporting a clean, classic interior presentation. The building provides two dedicated off-street parking spaces per unit, for six total spaces across the property. Two units are currently leased to qualified tenants through August 2026, and the third unit is vacant and move-in ready.
Located in downtown Hingham on a prominent corner lot, the property is positioned within walking distance of restaurants, boutique shops, and Hingham Harbor. Commuter options are also nearby, with MBTA commuter rail and a high-speed ferry to Boston’s Financial District described as moments away.
For tenants, the configuration supports straightforward, separate living arrangements with in-unit laundry and dedicated parking. For investors or owner-occupants, the building’s three separately metered units provide operational flexibility, with current leasing through August 2026 and an immediate opportunity to occupy the vacant unit. The property is also presented as something that could be evaluated for future condominium conversion given the three defined units.
Located in downtown Hingham on a prominent corner lot, the property is positioned within walking distance of restaurants, boutique shops, and Hingham Harbor. Commuter options are also nearby, with MBTA commuter rail and a high-speed ferry to Boston’s Financial District described as moments away.
For tenants, the configuration supports straightforward, separate living arrangements with in-unit laundry and dedicated parking. For investors or owner-occupants, the building’s three separately metered units provide operational flexibility, with current leasing through August 2026 and an immediate opportunity to occupy the vacant unit. The property is also presented as something that could be evaluated for future condominium conversion given the three defined units.
Key Highlights
- Three‑family property built circa 1840 with three 2‑bedroom units totaling about 3,688 SF
- Updated units include central air, gas heat, and in‑unit washer/dryer
- Income: two units leased through August 2026 generating $7,000/month rental income
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
$62,329
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
2.83%
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%
$1,246,580
$1.2M
Cap Rate 7%
$890,414
$890.4K
Cap Rate 9%
$692,544
$692.5K
Market Conditions
NOI Build-Up for 3,688 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
$94.0K $25.50/SF
− Vacancy
−$5.0K −$1.36/SF
EGI
$89.0K $24.14/SF
− OpEx
−$26.7K −$7.24/SF
NOI
$62.3K $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%
$1,246,580
Cap Rate 7%
$890,414
Cap Rate 9%
$692,544
Alternative Uses
Best Use
Multifamily LT 5
$890.4K
$779.1K – $1.04M
NOI $62,329 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$820.6K
$718.1K – $957.4K
NOI $57,444 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,830 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 02043, MA
24,272
Population
10,059
Households
2.4
Avg Household Size
45
Median Age
75%
College-Educated
98%
High-School Grad
22.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$181,017
Median Household Income
$103,897
Median Earnings
$2,452
Median Rent
$1,075,100
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?
Triplex - Updated three-unit building with two off-street parking spaces per unit and a vacant two-bedroom ready to occupy.
Where is this triplex located?
The property is located at 67 North Street Hingham, MA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Three‑family property built circa 1840 with three 2‑bedroom units totaling about 3,688 SF; Updated units include central air, gas heat, and in‑unit washer/dryer; Income: two units leased through August 2026 generating $7,000/month rental income
