Mixed-Use Brick Building with
122 Elm St Millbury, MA 01527
For Sale
$775,000
Pending
MULTI_FAMILY - Millbury, MA
Property Size4,048 SF
Lot Size0.52 Acres
Days on Market98
Property Features for 122 Elm St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B1
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
- Parking
- 12
- Standard status
- Pending
- APN
- M:053 B:0000078 L:,3581349
- Size
- 4,048 SF
- Lot size
- 0.52 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6845
Building Details
- Year built
- 1830
- Floors in Building
- 3
- Number of units
- 3
Listing Agency:
REMAX Executive Realty
(508) 435-6700
Listed By:
Bill Wright · License #5503
(508) 435-6700
Added: Apr 21
Changed: Jul 11
Last Checked: Jul 27 at 4:06AM
MLS# 73505081
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use brick building features three total units following conversion from a former four-family configuration. The first floor offers commercial space currently occupied by a salon, while the second floor includes one 2-bedroom apartment and one 1-bedroom apartment. Interior highlights noted in the listing include gleaming hardwood floors, large windows, updated kitchens and baths, and distinctive architectural details.
Located at 122 Elm St in Millbury on a property zoned B1. The site includes a fenced front yard and brick walkway, with natural gas heating supported by four boilers, and separate electric services. Town water and sewer are provided. Parking is available with a large lot in the back plus municipal lots on both sides of the building.
Designed with multiple-use flexibility, this property combines storefront-ready space with residential living above, supported by the listed utility and heating infrastructure.
Located at 122 Elm St in Millbury on a property zoned B1. The site includes a fenced front yard and brick walkway, with natural gas heating supported by four boilers, and separate electric services. Town water and sewer are provided. Parking is available with a large lot in the back plus municipal lots on both sides of the building.
Designed with multiple-use flexibility, this property combines storefront-ready space with residential living above, supported by the listed utility and heating infrastructure.
Key Highlights
- Year built 1830 Greek Revival mixed‑use building with architectural details including 2‑story columns and wrought iron fence
- Converted from a former 4‑family to 3 units: first‑floor commercial salon and 2nd‑floor 2BR and 1BR apartments
- Apartments feature gleaming hardwood floors, large windows, and updated kitchens and baths
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.4k | $21.60 |
| − Vacancy | −$1.9k | −$0.48 |
| EGI | $85.5k | $21.12 |
| − OpEx | −$25.7k | −$6.34 |
| NOI | $59.9k | $14.79 |
4,048 SF · lease $21.60/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$855.1K
$748.2K – $997.7K
NOI $59,859 @ 7.0% cap · market cap 7.72%
Second Best
Multifamily LT 5
$781.7K
$684.0K – $912.0K
NOI $54,719 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,763 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Edge Hair Studio
Hair Salon
FAQs
What type of property is this?
Triplex - Three-unit building with ground-floor salon space, two apartments above, and a large rear parking lot.
Where is this triplex located?
The property is located at 122 Elm St Millbury, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Year built 1830 Greek Revival mixed‑use building with architectural details including 2‑story columns and wrought iron fence; Converted from a former 4‑family to 3 units: first‑floor commercial salon and 2nd‑floor 2BR and 1BR apartments; Apartments feature gleaming hardwood floors, large windows, and updated kitchens and baths
