Renovated Quadplex with
New
For Sale
$749,000
73 S Main St, North Brookfield, MA 01535
Updated four-unit property on nearly an acre with washer/dryer hookups and ample parking.
Property Size2,991 SF
Days on Market2
Property Features for 73 S Main St
General Information
Standard status
Active
Size
2,991 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,954
Amenities
washer/dryer hookups
Building Details
Building Size
2,991 SF
Year Built
1890
Stories
8
Units
4
Listed By:
Sarah Dunlevy
(954) 614-6248
Source:
Elliman
Added: Sep 10
Last Checked: Sep 11 at 10:26AM
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 Sarah Dunlevy
Investment Insights
Based on property information with market context.
Built in 1890, this quadplex contains four residential units that have undergone substantial renovation. The interiors feature contemporary finishes, and each unit includes washer/dryer hookups. Major renovation work has been completed, reducing the scope of immediate capital improvements described for the property.
The property occupies nearly an acre at 73 S Main St in North Brookfield, Massachusetts, with ample on-site parking. Its four-unit configuration also supports an owner-occupant arrangement, with the ability to reside in one unit while renting the remaining units, as described in the property information.
The property occupies nearly an acre at 73 S Main St in North Brookfield, Massachusetts, with ample on-site parking. Its four-unit configuration also supports an owner-occupant arrangement, with the ability to reside in one unit while renting the remaining units, as described in the property information.
Key Highlights
- Four‑unit quadplex with substantial renovations completed
- Land area approaches one acre
- Updated interiors with modern finishes in each unit
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
$40,431
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
5.40%
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%
$808,620
$808.6K
Cap Rate 7%
$577,586
$577.6K
Cap Rate 9%
$449,233
$449.2K
Market Conditions
NOI Build-Up for 2,991 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
$59.2K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$57.8K $19.31/SF
− OpEx
−$17.3K −$5.79/SF
NOI
$40.4K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$808,620
Cap Rate 7%
$577,586
Cap Rate 9%
$449,233
Alternative Uses
Best Use
Multifamily LT 5
$577.6K
$505.4K – $673.9K
NOI $40,431 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$502.7K
$439.8K – $586.4K
NOI $35,186 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.02M
$893.7K – $1.19M
NOI $71,497 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 01535, MA
4,735
Population
2,163
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
95%
High-School Grad
21.3 sq mi
ZIP Area
222
Density / Sq Mi
$81,010
Median Household Income
$55,393
Median Earnings
$973
Median Rent
$316,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-unit property on nearly an acre with washer/dryer hookups and ample parking.
Where is this quadplex located?
The property is located at 73 S Main St North Brookfield, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Four‑unit quadplex with substantial renovations completed; Land area approaches one acre; Updated interiors with modern finishes in each unit
