Multifamily Investment
For Sale
$1,100,000
Pending
99 Cross St, Southbridge, MA 01550
Seven-unit multifamily property with strong rental income.
Property Size6,264 SF
Days on Market121
Property Features for 99 Cross St
General Information
Standard status
Pending
Size
6,264 SF
Property subtype
5-9 Family
Building Details
Year Built
1900
Listing Agency:
Lamacchia Realty, Inc.
(508) 612-0821
Listed By:
We Close Deals Team
(508) 612-0821
Source:
Lockandkeyre
Added: Apr 12
Changed: Aug 9
Last Checked: Apr 20 at 6:33PM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This is a seven-unit multifamily property featuring a mix of two-bedroom and one-bedroom units. The property generates a monthly rental income of $11,320. Strategic renovations have been implemented to facilitate ease of management and unit turnover. Several residential units have been recently updated, enhancing tenant appeal while allowing for further value-add improvements. The property size is 6,264 square feet.
Key Highlights
- Strong monthly rental income of $11,320.
- Enjoy an 8.5% cap rate at purchase.
- 7‑unit multifamily investment opportunity.
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
$73,690
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
6.70%
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%
$1,473,800
$1.5M
Cap Rate 7%
$1,052,714
$1.1M
Cap Rate 9%
$818,778
$818.8K
Market Conditions
NOI Build-Up for 6,264 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
$137.6K $21.96/SF
− Vacancy
−$3.6K −$0.57/SF
EGI
$134.0K $21.39/SF
− OpEx
−$60.3K −$9.63/SF
NOI
$73.7K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /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%
$1,473,800
Cap Rate 7%
$1,052,714
Cap Rate 9%
$818,778
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$921.1K – $1.23M
NOI $73,690 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,735 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily property with strong rental income.
Where is this apartment building located?
The property is located at 99 Cross St Southbridge, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Strong monthly rental income of $11,320.; Enjoy an 8.5% cap rate at purchase.; 7‑unit multifamily investment opportunity.
