Three-Unit Multifamily
New
For Sale
$649,900
99 Hazard St, New Bedford, MA 02740
Two vacant residences provide flexibility for owner occupancy or future tenant selection.
Property Size3,561 SF
Price / SF$182.50
Days on Market4
Property Features for 99 Hazard St
General Information
Standard status
Active
Size
3,561 SF
Property subtype
Residential Income
Zoning
RC
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,744
Building Details
Building Size
3,561 SF
Year Built
1910
Buildings
1
Listing Agency:
Keller Williams South Watuppa
(404) 668-6621
Listed By:
The J. Pavao Team · License #2017006034
Source:
413realestate
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 12:57PM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This 1910-built triplex contains three residential units within 3,561 square feet and is classified under RC zoning. The first- and third-floor residences are currently vacant, while the property offers a three-family configuration for continued multifamily use.
The property is located at 99 Hazard St in New Bedford, Massachusetts, with access to public transportation, nearby local amenities, and major highways. The vacant units give a future owner flexibility to occupy one residence or establish new tenancy arrangements while maintaining the existing multifamily setup.
The property is located at 99 Hazard St in New Bedford, Massachusetts, with access to public transportation, nearby local amenities, and major highways. The vacant units give a future owner flexibility to occupy one residence or establish new tenancy arrangements while maintaining the existing multifamily setup.
Key Highlights
- Three‑family property with 3,561 square feet
- First- and third‑floor units are currently vacant
- Built in 1910
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
$51,188
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
7.88%
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%
$1,023,760
$1.0M
Cap Rate 7%
$731,257
$731.3K
Cap Rate 9%
$568,756
$568.8K
Market Conditions
NOI Build-Up for 3,561 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
$79.1K $22.20/SF
− Vacancy
−$5.9K −$1.67/SF
EGI
$73.1K $20.54/SF
− OpEx
−$21.9K −$6.16/SF
NOI
$51.2K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /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%
$1,023,760
Cap Rate 7%
$731,257
Cap Rate 9%
$568,756
Alternative Uses
Best Use
Multifamily LT 5
$731.3K
$639.9K – $853.1K
NOI $51,188 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$671.3K
$587.4K – $783.2K
NOI $46,993 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$1.05M
$918.7K – $1.22M
NOI $73,499 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
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 - Two vacant residences provide flexibility for owner occupancy or future tenant selection.
Where is this triplex located?
The property is located at 99 Hazard St New Bedford, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three‑family property with 3,561 square feet; First- and third‑floor units are currently vacant; Built in 1910
