Quadplex with Updated
New
For Sale
$1,225,000
904 Main St, Woburn, MA 01801
Four-unit property includes three ground-level residences and current tenants.
Property Size3,312 SF
Days on Market3
Property Features for 904 Main St
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,015
Building Details
Building Size
3,312 SF
Year Built
1940
Stories
5
Units
4
Listed By:
Roc Noelsaint
(339) 368-4980
Source:
Elliman
Added: Sep 13
Last Checked: Sep 14 at 6:31AM
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 Roc Noelsaint
Investment Insights
Based on property information with market context.
Built in 1940, this four-unit quadplex includes three apartments on the first floor. Several units have received updates, with three of the four units noted as recently improved. Current tenants are in place, and the property is being offered in its existing condition.
The property is located at 904 Main St in Woburn, Massachusetts, with access to the I-95 corridor. Three leases are scheduled to expire next year, providing a defined point for future lease decisions. The property also has a Walk Score of 45, a Bike Score of 38, and a Transit Score of 24.
The property is located at 904 Main St in Woburn, Massachusetts, with access to the I-95 corridor. Three leases are scheduled to expire next year, providing a defined point for future lease decisions. The property also has a Walk Score of 45, a Bike Score of 38, and a Transit Score of 24.
Key Highlights
- Four‑unit quadplex built in 1940
- Three units are located on the first floor
- Three of four units have received recent updates
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
$70,083
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
5.72%
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%
$1,401,660
$1.4M
Cap Rate 7%
$1,001,186
$1.0M
Cap Rate 9%
$778,700
$778.7K
Market Conditions
NOI Build-Up for 3,312 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
$105.3K $31.80/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$100.1K $30.23/SF
− OpEx
−$30.0K −$9.07/SF
NOI
$70.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,401,660
Cap Rate 7%
$1,001,186
Cap Rate 9%
$778,700
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$876.0K – $1.17M
NOI $70,083 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$941.4K
$823.7K – $1.10M
NOI $65,898 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,248 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 01801, MA
40,891
Population
16,982
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
94%
High-School Grad
12.7 sq mi
ZIP Area
3,220
Density / Sq Mi
$107,754
Median Household Income
$60,637
Median Earnings
$2,190
Median Rent
$641,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property includes three ground-level residences and current tenants.
Where is this quadplex located?
The property is located at 904 Main St Woburn, MA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1940; Three units are located on the first floor; Three of four units have received recent updates
