Building Details

Building Size 3,180 SF

Year Built 1900

Stories 6

Listing Agency: J.M.I. Investment Properties c***@churchillprop.com Show Phone

Listed By: Chris Bernier Show Phone

Source: Churchillprop

Added: May 20 Changed: Aug 29 Last Checked: Aug 30 at 2:36PM

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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 J.M.I. Investment Properties

Investment Insights

Based on property information with market context.

This 3,180-square-foot triplex, built in 1900, contains three residential units, each with two bedrooms and a second bedroom connected to a bonus room. The bonus rooms can accommodate uses such as a nursery, dining area, flex space, or home office. First- and second-floor units include large eat-in kitchens and living rooms. Each apartment also has a private locked storage area in the basement, separate electrical service, and an individual heating system.

The property occupies a .55-acre lot with a common area and ample parking. Plumbing, electrical, septic, water systems, and the roof have been updated over time. The washer hot water heater dates to 2025, while the third-floor hot water heater dates to 2026. A passing Title V is in hand. Tenants are responsible for electric and oil; current rents include trash pickup, building maintenance, landscaping, and snow removal. The property is near Long Pond Boat Ramp, abuts town forest, and is close to golf courses, with MBTA access one town over.

Key Highlights

• 3,180 SF triplex with three residential units
• Each unit has 2 bedrooms plus a connected bonus room
• .55‑acre lot with common area and ample parking

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

$53,743

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

6.25%

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%

$1,074,860 $1.1M

Cap Rate 7%

$767,757 $767.8K

Cap Rate 9%

$597,144 $597.1K

Market Conditions

NOI Build-Up for 3,180 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

$81.1K $25.50/SF

− Vacancy

−$4.3K −$1.36/SF

EGI

$76.8K $24.14/SF

− OpEx

−$23.0K −$7.24/SF

NOI

$53.7K $16.90/SF

Area

Plymouth County, MA

Vacancy

5.32%

Lease Rate

$25.50 /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%

$1,074,860

Cap Rate 7%

$767,757

Cap Rate 9%

$597,144

Alternative Uses

Best Use

Multifamily LT 5

$767.8K

$671.8K – $895.7K (±1% cap)

NOI $53,743 @ 7.0% cap · market cap 6.25%

Second Best

Apartment 5plus

$707.6K

$619.2K – $825.5K (±1% cap)

NOI $49,532 @ 7.0% cap · market cap 5.76%

Theoretical Best

Office A

$1.88M

$1.65M – $2.20M (±1% cap)

NOI $131,778 @ 7.0% cap · market cap 15.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Computer & Electronic Repair Daycare Center Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

Explore this area Business Placement

Demographics for 02347, MA

11,523

Population

4,443

Households

2.6

Avg Household Size

45

Median Age

39%

College-Educated

94%

High-School Grad

29.6 sq mi

ZIP Area

389

Density / Sq Mi

$126,182

Median Household Income

$60,574

Median Earnings

$1,837

Median Rent

$533,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units feature two bedrooms, flexible bonus rooms, private basement storage, and shared outdoor space.

Where is this triplex located?

The property is located at 87 Lakeside Ave Lakeville, MA.

What is the asking price?

The asking price for this property is $859,900.

What are key features of this property?

This property features: 3,180 SF triplex with three residential units; Each unit has 2 bedrooms plus a connected bonus room; .55‑acre lot with common area and ample parking