Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    197 Everett St Southbridge, MA 01550

    • Commercial real estate
    • 6,390 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0297976
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 197 Everett St

    Year built
    1890
    Property size
    6,390 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a meticulously renovated six-unit apartment building located at 197 Everett Street in Southbridge, Massachusetts. Built in 1890 and extensively renovated in 2017, this three-story building boasts 6,390 square feet of net rentable space situated on a 4,356 square foot lot. The property features updated kitchens and bathrooms in each of its six units, offering strong tenant appeal. Currently operating at a 6% occupancy rate, the building generates a substantial net operating income (NOI) of $82,036, resulting in a compelling 6.84% capitalization rate. The asking price is $1,200,000, translating to $200,000 per unit. Further enhancing its value proposition, the building is equipped with owned solar panels, contributing to energy efficiency and cost savings. Its convenient location, less than half a mile from downtown Southbridge and within 15 minutes of the Amazon Distribution Center, Walmart, and Harrington Hospital, ensures strong rental demand. The property is zoned R3 and comes with readily available de-lead certificates. This is a stabilized investment with a proven rental history, making it an ideal addition to any portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Southbridge
    County
    Worcester
    State
    Massachusetts
    Longitude
    -72.035011
    Latitude
    42.0692251

    Comparable in this City

    • $699,000
      20,000 SF

      Southbridge Mixed-Use Redevelopment

      15-Unit Apartment Building, Prime Location
      318 Main St, Southbridge, MA 01550
      View Details
    • $1,700,000

      Turnkey Multifamily Property For Sale

      12-unit multifamily property with consistent rental income and redevelopment potential.
      320 Elm St, Southbridge, MA 01550
      View Details
    • $429,999

      Multifamily Home Near Downtown

      Multifamily property with income potential near Southbridge's revitalizing downtown.
      89 Worcester St, Southbridge, MA 01550
      View Details
    • $579,900

      Renovated Duplex with ADU Potential

      Historic duplex near UMass Harrington, move-in ready with income potential.
      757 Main St, Southbridge, MA 01550
      View Details
    • $429,999

      Renovated Duplex in Southbridge, MA

      Completely renovated duplex, vacant, ideal for owner-occupants or investors.
      209 Marcy St, Southbridge, MA 01550
      View Details
    • $385,000

      Southbridge Four-Family Home For Sale

      Four-unit property in Southbridge, ideal for investors or owner-occupants.
      135 Elm St, Southbridge, MA 01550
      View Details

    Similar Nearby for Sale

    • $699,000
      20,000 SF

      Southbridge Mixed-Use Redevelopment

      15-Unit Apartment Building, Prime Location
      318 Main St, Southbridge, MA 01550
      View Details
    • $1,700,000

      Turnkey Multifamily Property For Sale

      12-unit multifamily property with consistent rental income and redevelopment potential.
      320 Elm St, Southbridge, MA 01550
      View Details
    • $499,000

      Well-Maintained Two-Family Home

      Two-family home with detached garage, decks, and separate utilities.
      134 Chapin St, Southbridge, MA 01550
      View Details
    • $474,900

      Well-Maintained Southbridge 3-Family Property

      Spacious 3-family property in Southbridge with strong rental history.
      15 Twine Hurst Pl, Southbridge, MA 01550
      View Details
    • $449,900

      Spacious Two-Family Home with Garage

      Two-family home with garage, ideal for investors or homebuyers.
      60-62 Guelphwood Rd, Southbridge, MA 01550
      View Details
    • $335,000

      Two-Family Home with Recent Upgrades

      Two 3-bedroom units, new roof, vacant, convenient location.
      99 North St, Southbridge, MA 01550
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,845 SF

      Southbridge Warehouse Space Available

      3,845 SF warehouse space for lease in Southbridge, MA.
      10 Cabot St, Southbridge, MA 01550
      View Details
    • $1.00 SF/Yr

      Southbridge Retail Spaces For Rent

      Five retail spaces available in Southbridge's central business district.
      100 Central St, Southbridge, MA 01550
      View Details
    • $22 SF/Yr
      35,491 SF

      Southbridge Office Space Available

      First-class office space with amenities in downtown Southbridge.
      14 Mechanic St, Southbridge, MA 01550
      View Details
    • $2,000 /Mo
      2,144 SF

      Southbridge Commercial Space For Rent

      Office or retail space available in Southbridge, Massachusetts.
      476 Worcester St, Southbridge, MA 01550
      View Details
    • Contact for pricing
      34,150 SF

      Southbridge Industrial Space for Lease

      13,000 SF industrial space suitable for flex, warehousing, storage.
      80 Optical Dr, Southbridge, MA 01550
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    197 Everett St
    Southbridge, MA 01550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.