Three-Unit Multifamily
For Sale
$930,000
Pending
87-89 Margin St, Lawrence, MA 01841
Three-unit property is fully occupied, producing $7,900 per month in gross rental income.
Property Size4,046 SF
Days on Market83
Property Features for 87-89 Margin St
General Information
Standard status
Pending
Size
4,046 SF
Property subtype
3 Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1890
Listing Agency:
Realty ONE Group Nest
Listed By:
Katherina Ramirez
(978) 771-3983
Source:
Lockandkeyre
Added: Jun 14
Changed: Aug 7
Last Checked: Jul 23 at 5:21AM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
This three-unit multifamily property is fully occupied and presented as a stabilized rental asset. The building consists of three residential units and is generating $7,900 per month in gross rental income.
The property is positioned conveniently near shopping and local amenities, supporting day-to-day tenant access to surrounding services.
Offered for sale, this 3-unit building is described as performing and ready to transfer, with current occupancy in place at the time of listing.
The property is positioned conveniently near shopping and local amenities, supporting day-to-day tenant access to surrounding services.
Offered for sale, this 3-unit building is described as performing and ready to transfer, with current occupancy in place at the time of listing.
Key Highlights
- 3‑unit multi‑family property built in 1890
- Fully occupied with $7,900 per month in gross rental 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
$68,160
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
7.33%
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%
$1,363,200
$1.4M
Cap Rate 7%
$973,714
$973.7K
Cap Rate 9%
$757,333
$757.3K
Market Conditions
NOI Build-Up for 4,046 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
$102.0K $25.20/SF
− Vacancy
−$4.6K −$1.13/SF
EGI
$97.4K $24.07/SF
− OpEx
−$29.2K −$7.22/SF
NOI
$68.2K $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%
$1,363,200
Cap Rate 7%
$973,714
Cap Rate 9%
$757,333
Alternative Uses
Best Use
Multifamily LT 5
$973.7K
$852.0K – $1.14M
NOI $68,160 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$878.9K
$769.1K – $1.03M
NOI $61,525 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$2.40M
$2.10M – $2.79M
NOI $167,665 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
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 - Three-unit property is fully occupied, producing $7,900 per month in gross rental income.
Where is this triplex located?
The property is located at 87-89 Margin St Lawrence, MA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: 3‑unit multi‑family property built in 1890; Fully occupied with $7,900 per month in gross rental income
