Mixed-Use Building Near Downtown
For Sale
Contact for pricing
11 Linden Street, Reading, MA 01867
Commercial and mixed-use building near downtown Reading with development potential.
Property Size5,210 SF
Price / SF$220.54
Days on Market173
Property Features for 11 Linden Street
General Information
Standard status
Active
Size
5,210 SF
Property subtype
Special Purpose
Zoning
BUS-B
Listing Agency:
Century 21 North East Spencer
(781) 438-1230
Listed By:
Craig Celli · License #9951
Source:
Crexi
Added: Feb 28
Changed: Aug 8
Last Checked: Aug 8 at 6:45AM
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 Spencer
Investment Insights
Based on property information with market context.
This commercial and mixed-use zoned building is located steps away from Downtown Reading, offering an opportunity to be part of the bustling business area just off Haven Street, which includes new developments and restaurants. Currently operating as a funeral home, potential uses include dentists, contractors, investors, lawyers, chiropractors, studios, and galleries. The property features a classy walk-up entry, an elevator, and an open floor plan. Additional amenities include a private office, kitchenette, dining room area, multiple bathrooms and kitchens, and a garage. A three-season sitting porch area leads to a backyard. The property also includes a second-floor apartment with three bedrooms, a kitchen, a full bath, and a living room. The apartment could also serve as office space for the main level. The building has a total size of 5210 square feet.
Key Highlights
- Commercial and Mixed Use zoning in a high‑growth area near Downtown Reading.
- Versatile building suitable for various businesses like Dentists, Contractors, Lawyers, etc.
- The 2nd‑floor apartment features 3 bedrooms, kitchen, bath, and living room, and can be used as office space.
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
$103,661
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
9.02%
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%
$2,073,220
$2.1M
Cap Rate 7%
$1,480,871
$1.5M
Cap Rate 9%
$1,151,789
$1.2M
Market Conditions
NOI Build-Up for 5,210 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
$198.8K $38.16/SF
− Vacancy
−$10.3K −$1.98/SF
EGI
$188.5K $36.18/SF
− OpEx
−$84.8K −$16.28/SF
NOI
$103.7K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /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%
$2,073,220
Cap Rate 7%
$1,480,871
Cap Rate 9%
$1,151,789
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,315 @ 7.0% cap · market cap 14.39%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,661 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,901 @ 7.0% cap · market cap 18.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and mixed-use building near downtown Reading with development potential.
Where is this mixed-use property located?
The property is located at 11 Linden Street Reading, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Commercial and Mixed Use zoning in a high‑growth area near Downtown Reading.; Versatile building suitable for various businesses like Dentists, Contractors, Lawyers, etc.; The 2nd‑floor apartment features 3 bedrooms, kitchen, bath, and living room, and can be used as office space.
