Triplex Multifamily Property with
For Sale
$950,000
99 W Central Street, Natick, MA 01760
Multifamily layout with separate living areas, outdoor spaces, basement utility, and convenient access to Natick Center amenities.
Property Size2,987 SF
Price / SF$318.04
Days on Market173
Property Features for 99 W Central Street
General Information
Standard status
Active
Size
2,987 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
Property needs updating
Units
Unit Mix
1 x 2BR, 1 x 3BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
RE/MAX Real Estate Center
Listed By:
Watson Homes Team
(508) 867-2800
Source:
Miketoomeyrealestate
Added: Mar 11
Changed: Aug 29
Last Checked: Jun 6 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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1900, this 2,987-square-foot triplex offers a detailed residential income configuration with multiple kitchens, bedrooms, living areas, and private outdoor spaces. The first unit provides five rooms, two bedrooms, a living room, dining room, kitchen, and porch. A second five-room unit includes three bedrooms, living and kitchen areas, and a deck. The third-floor apartment has three rooms, including a bedroom, bathroom, living room, and kitchen. One unit is vacant, while another is occupied. A finished basement room has direct entry and plumbing for a future bathroom. The property needs updating and includes three gas heating systems, a 2-3 car garage, and ample off-street parking.
The parcel is within walking distance of Natick Center, the commuter rail, Natick Common, shops, and restaurants. It also abuts Eddie's Park walking trail and Lake Cochituate, adding direct access to nearby outdoor amenities.
The parcel is within walking distance of Natick Center, the commuter rail, Natick Common, shops, and restaurants. It also abuts Eddie's Park walking trail and Lake Cochituate, adding direct access to nearby outdoor amenities.
Key Highlights
- 2,987 SF multifamily property built in 1900
- Triplex layout with two five‑room units and a three‑room third‑floor apartment
- Unit 1 includes 2 bedrooms and a porch; Unit 2 includes 3 bedrooms and a deck
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
$63,206
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
6.65%
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%
$1,264,120
$1.3M
Cap Rate 7%
$902,943
$902.9K
Cap Rate 9%
$702,289
$702.3K
Market Conditions
NOI Build-Up for 2,987 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
$95.0K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.3K $30.23/SF
− OpEx
−$27.1K −$9.07/SF
NOI
$63.2K $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%
$1,264,120
Cap Rate 7%
$902,943
Cap Rate 9%
$702,289
Alternative Uses
Best Use
Multifamily LT 5
$902.9K
$790.1K – $1.05M
NOI $63,206 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$849.0K
$742.9K – $990.5K
NOI $59,431 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,781 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 01760, MA
36,659
Population
15,838
Households
2.3
Avg Household Size
42
Median Age
69%
College-Educated
98%
High-School Grad
14.8 sq mi
ZIP Area
2,477
Density / Sq Mi
$134,644
Median Household Income
$77,632
Median Earnings
$2,061
Median Rent
$740,700
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?
Triplex - Multifamily layout with separate living areas, outdoor spaces, basement utility, and convenient access to Natick Center amenities.
Where is this triplex located?
The property is located at 99 W Central Street Natick, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,987 SF multifamily property built in 1900; Triplex layout with two five‑room units and a three‑room third‑floor apartment; Unit 1 includes 2 bedrooms and a porch; Unit 2 includes 3 bedrooms and a deck
