12-Unit Apartment Building with
For Sale
$2,950,000
81 Bridge Street, Northampton, MA 01060
Period character, updated systems, and on-site parking provide a practical multifamily configuration near downtown.
Property Size11,724 SF
Price / SF$251.62
Days on Market106
Property Features for 81 Bridge Street
General Information
Standard status
Active
Size
11,724 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Multifamily Units
12
Amenities
laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
5 College REALTORS Northampton
(413) 386-8234
Listed By:
Rachel Simpson
(413) 386-8234
Source:
Fivecollegerealtors
Added: May 17
Changed: Aug 29
Last Checked: Aug 29 at 8:25PM
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 5 College REALTORS Northampton
Investment Insights
Based on property information with market context.
Built in 1900, this 11,724-square-foot apartment building contains 12 residential units with one- and two-bedroom layouts. The property includes shared laundry facilities, a dry basement, period architectural details, and parking for 12+ cars. Recent property improvements include new stairs, second- and third-floor egress, heating systems, and interior paint. The building has been maintained for ongoing residential use.
Located on Bridge Street in Northampton, the property is near downtown. Apartments are leased through August 2027 at market-rate rents, providing an established occupancy profile. A representative selection of units is available for initial showings, with leases available for review following an accepted offer.
Located on Bridge Street in Northampton, the property is near downtown. Apartments are leased through August 2027 at market-rate rents, providing an established occupancy profile. A representative selection of units is available for initial showings, with leases available for review following an accepted offer.
Key Highlights
- 12‑unit apartment building totaling 11,724 SF
- One- and two‑bedroom apartments leased through August 2027
- Parking for 12+ cars
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
$154,857
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
5.25%
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%
$3,097,140
$3.1M
Cap Rate 7%
$2,212,243
$2.2M
Cap Rate 9%
$1,720,633
$1.7M
Market Conditions
NOI Build-Up for 11,724 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
$295.4K $25.20/SF
− Vacancy
−$13.9K −$1.18/SF
EGI
$281.6K $24.02/SF
− OpEx
−$126.7K −$10.81/SF
NOI
$154.9K $13.21/SF
Area
Hampshire County, MA
Vacancy
4.70%
Lease Rate
$25.20 /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%
$3,097,140
Cap Rate 7%
$2,212,243
Cap Rate 9%
$1,720,633
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.94M – $2.58M
NOI $154,857 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.14M
$6.25M – $8.33M
NOI $499,780 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 01060, MA
14,461
Population
7,875
Households
1.8
Avg Household Size
42
Median Age
69%
College-Educated
95%
High-School Grad
10.9 sq mi
ZIP Area
1,327
Density / Sq Mi
$75,077
Median Household Income
$49,151
Median Earnings
$1,460
Median Rent
$427,100
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?
Apartment building - Period character, updated systems, and on-site parking provide a practical multifamily configuration near downtown.
Where is this apartment building located?
The property is located at 81 Bridge Street Northampton, MA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 12‑unit apartment building totaling 11,724 SF; One- and two‑bedroom apartments leased through August 2027; Parking for 12+ cars
