Renovated Triplex with Vacant
For Sale
$715,000
8 Douglas Street, Worcester, MA 01603
Residential units feature three bedrooms, full bathrooms, eat-in kitchens, and washer/dryer hookups.
Property Size4,131 SF
Price / SF$173.08
Days on Market94
Property Features for 8 Douglas Street
General Information
Standard status
Active
Size
4,131 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
in-unit washer/dryer hookups
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Excelsior Realty
Listed By:
Hong Nguyen
(603) 548-5315
Source:
Burkelordrealestate
Added: May 29
Changed: Aug 29
Last Checked: Aug 29 at 2:41PM
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 Excelsior Realty
Investment Insights
Based on property information with market context.
This three-family property contains 4,131 square feet and was built in 1900. Each residence includes three bedrooms, one full bathroom, a living room, an eat-in kitchen, and in-unit washer/dryer hookups. Recent improvements include a newer roof installed in 2025, updated vinyl flooring, and fresh paint in the third-floor unit.
Units 1 and 2 are tenant-at-will, while Unit 3 is vacant. The available unit supports either owner occupancy or leasing, subject to the applicable requirements. The property is located in Worcester near Polar Park, with access to I-290, I-90, the Mass Pike, Route 9, and Route 146. Shopping, dining, and entertainment are also nearby.
Units 1 and 2 are tenant-at-will, while Unit 3 is vacant. The available unit supports either owner occupancy or leasing, subject to the applicable requirements. The property is located in Worcester near Polar Park, with access to I-290, I-90, the Mass Pike, Route 9, and Route 146. Shopping, dining, and entertainment are also nearby.
Key Highlights
- Three‑family property with 4,131 square feet
- Three bedrooms and one full bathroom in each unit
- Unit 3 is vacant; Units 1 and 2 are tenant‑at‑will
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
$60,665
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
8.48%
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%
$1,213,300
$1.2M
Cap Rate 7%
$866,643
$866.6K
Cap Rate 9%
$674,056
$674.1K
Market Conditions
NOI Build-Up for 4,131 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
$91.7K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.7K $20.98/SF
− OpEx
−$26.0K −$6.29/SF
NOI
$60.7K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$1,213,300
Cap Rate 7%
$866,643
Cap Rate 9%
$674,056
Alternative Uses
Best Use
Multifamily LT 5
$866.6K
$758.3K – $1.01M
NOI $60,665 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$795.5K
$696.1K – $928.1K
NOI $55,688 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,519 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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 - Residential units feature three bedrooms, full bathrooms, eat-in kitchens, and washer/dryer hookups.
Where is this triplex located?
The property is located at 8 Douglas Street Worcester, MA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Three‑family property with 4,131 square feet; Three bedrooms and one full bathroom in each unit; Unit 3 is vacant; Units 1 and 2 are tenant‑at‑will
