4-Unit Building with
For Sale
$949,900
8-10 School Street, Amesbury, MA 01913
Vinyl siding, vinyl windows, and basement storage support the existing residential configuration.
Property Size3,740 SF
Price / SF$253.98
Days on Market100
Property Features for 8-10 School Street
General Information
Standard status
Active
Size
3,740 SF
Total Parking Spaces
6
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
4
Building Details
Year Built
1870
Buildings
1
Listing Agency:
Properties Unlimited
(978) 815-0941
Listed By:
Robert Palmisano · License #456000144
Source:
Stonewallre
Added: May 23
Changed: Aug 28
Last Checked: Aug 29 at 10:27AM
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 Properties Unlimited
Investment Insights
Based on property information with market context.
Located at 8-10 School Street in downtown Amesbury, this 1870 residential property contains four units within a 3,740-square-foot building. Exterior features include vinyl siding and vinyl windows, while six off-street parking spaces serve the property.
The basement provides substantial storage area that could accommodate coin-operated laundry or separate storage areas, subject to applicable approvals and configuration. The third floor may support a fifth unit, although that space requires complete rehabilitation. A vacant lot next door at 6 School St. is associated with contamination documentation, including a 7-25 Letter RE.
The basement provides substantial storage area that could accommodate coin-operated laundry or separate storage areas, subject to applicable approvals and configuration. The third floor may support a fifth unit, although that space requires complete rehabilitation. A vacant lot next door at 6 School St. is associated with contamination documentation, including a 7-25 Letter RE.
Key Highlights
- Four‑unit building at 8‑10 School Street in downtown Amesbury
- 3,740‑square‑foot property constructed in 1870
- Six off‑street parking spaces
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
$63,005
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
6.63%
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%
$1,260,100
$1.3M
Cap Rate 7%
$900,071
$900.1K
Cap Rate 9%
$700,056
$700.1K
Market Conditions
NOI Build-Up for 3,740 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
$94.2K $25.20/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$90.0K $24.07/SF
− OpEx
−$27.0K −$7.22/SF
NOI
$63.0K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$1,260,100
Cap Rate 7%
$900,071
Cap Rate 9%
$700,056
Alternative Uses
Best Use
Multifamily LT 5
$900.1K
$787.6K – $1.05M
NOI $63,005 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,985 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 01913, MA
17,366
Population
7,827
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
1,412
Density / Sq Mi
$100,599
Median Household Income
$60,627
Median Earnings
$1,573
Median Rent
$475,400
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?
Quadplex - Vinyl siding, vinyl windows, and basement storage support the existing residential configuration.
Where is this quadplex located?
The property is located at 8-10 School Street Amesbury, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four‑unit building at 8‑10 School Street in downtown Amesbury; 3,740‑square‑foot property constructed in 1870; Six off‑street parking spaces
