Multifamily Property with Updated
For Sale
$2,100,000
Pending
97 Atlantic Ave, Revere, MA 02151
Apartment building with separate heat and electric for each unit, on-site laundry, and RB zoning.
Property Size8,418 SF
Days on Market140
Property Features for 97 Atlantic Ave
General Information
Standard status
Pending
Size
8,418 SF
Property subtype
Multi-Family
Zoning
RB
Additional Details
Public Transit
Yes
Amenities
laundry
Building Details
Building Size
8,418 SF
Year Built
1920
Stories
5
Listing Agency:
Century 21 North East
(617) 889-2020
Listed By:
Diane Cambria
Source:
Cjbarrett
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 29 at 6:29PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This 8,418-square-foot multifamily property was built in 1920 and includes apartments with updated kitchens and bathrooms. Each apartment has its own heat and electric service, while laundry facilities are located within the building. The property also features a newer roof.
Positioned at 97 Atlantic Ave in Revere, the building is close to the ocean, shopping, restaurants, and other local amenities. A nearby T station provides access to Boston. The property is zoned RB.
Positioned at 97 Atlantic Ave in Revere, the building is close to the ocean, shopping, restaurants, and other local amenities. A nearby T station provides access to Boston. The property is zoned RB.
Key Highlights
- 8,418‑square‑foot multifamily property built in 1920
- Separate heat and electric service in each apartment
- Updated kitchens and bathrooms throughout the apartments
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
$146,231
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
6.96%
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%
$2,924,620
$2.9M
Cap Rate 7%
$2,089,014
$2.1M
Cap Rate 9%
$1,624,789
$1.6M
Market Conditions
NOI Build-Up for 8,418 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
$282.8K $33.60/SF
− Vacancy
−$17.0K −$2.02/SF
EGI
$265.9K $31.58/SF
− OpEx
−$119.6K −$14.21/SF
NOI
$146.2K $17.37/SF
Area
Suffolk County, MA
Vacancy
6.00%
Lease Rate
$33.60 /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%
$2,924,620
Cap Rate 7%
$2,089,014
Cap Rate 9%
$1,624,789
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,231 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.98M
$4.36M – $5.81M
NOI $348,840 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 02151, MA
62,252
Population
23,461
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
83%
High-School Grad
5.7 sq mi
ZIP Area
10,921
Density / Sq Mi
$80,948
Median Household Income
$43,374
Median Earnings
$1,964
Median Rent
$566,200
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?
Multifamily property - Apartment building with separate heat and electric for each unit, on-site laundry, and RB zoning.
Where is this multifamily property located?
The property is located at 97 Atlantic Ave Revere, MA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 8,418‑square‑foot multifamily property built in 1920; Separate heat and electric service in each apartment; Updated kitchens and bathrooms throughout the apartments
