Multifamily Property with Leased Commercial
For Sale
$1,200,000
801 N Main Street, Fall River, MA 02720
Eight updated residential units plus additional leased commercial space, with separate utilities and central heat for each apartment.
Property Size6,414 SF
Lot Size0.16 Acres
Price / SF$187.09
Days on Market224
Property Features for 801 N Main Street
General Information
Standard status
Active
Size
6,414 SF
Lot size
0.16 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
8
Amenities
washer/dryer hookups
Building Details
Year Built
1882
Tenancy
Multi
Listing Agency:
BOND BROKERAGE
Listed By:
Donald Martone
(617) 731-4644
Source:
Hammondre
Added: Jan 8
Changed: Aug 20
Last Checked: Aug 20 at 9:02AM
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 BOND BROKERAGE
Investment Insights
Based on property information with market context.
799-809 North Main Street (801 N Main Street) is a stabilized multifamily offering consisting of two buildings on one 7,114 SF lot, with views of the Taunton River. The property includes 8 total residential apartments and an additional 1,319 SF of leased commercial space.
The front building contains four 1 bed, 1 bath apartments, and the rear building contains four 2 bed, 1 bath apartments. A common area basement includes washer/dryer hookups. Both buildings have been updated with newer vinyl siding and roofs.
All apartments have separate utilities and central heat, including two units with central air. Tenants pay their own utilities, and the property is professionally managed with consistent rent collection.
The front building contains four 1 bed, 1 bath apartments, and the rear building contains four 2 bed, 1 bath apartments. A common area basement includes washer/dryer hookups. Both buildings have been updated with newer vinyl siding and roofs.
All apartments have separate utilities and central heat, including two units with central air. Tenants pay their own utilities, and the property is professionally managed with consistent rent collection.
Key Highlights
- Updated two‑building 8‑unit multi‑family at 799‑809 North Main Street (Year built 1882)
- Includes additional 1,319 SF leased commercial space for added in‑place income
- Current annual income of $121,236 with total potential income over $141,000 (pro forma gross ~$134,400 plus $6,600/year commercial 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
$106,525
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
8.88%
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%
$2,130,500
$2.1M
Cap Rate 7%
$1,521,786
$1.5M
Cap Rate 9%
$1,183,611
$1.2M
Market Conditions
NOI Build-Up for 6,414 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
$207.8K $32.40/SF
− Vacancy
−$14.1K −$2.20/SF
EGI
$193.7K $30.20/SF
− OpEx
−$87.2K −$13.59/SF
NOI
$106.5K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,130,500
Cap Rate 7%
$1,521,786
Cap Rate 9%
$1,183,611
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,525 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,421 @ 7.0% cap · market cap 22.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
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?
Apartment building - Eight updated residential units plus additional leased commercial space, with separate utilities and central heat for each apartment.
Where is this apartment building located?
The property is located at 801 N Main Street Fall River, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Updated two‑building 8‑unit multi‑family at 799‑809 North Main Street (Year built 1882); Includes additional 1,319 SF leased commercial space for added in‑place income; Current annual income of $121,236 with total potential income over $141,000 (pro forma gross ~$134,400 plus $6,600/year commercial income)
