Waterfront Mixed-Use
294 E Main Street East Brookfield, MA 01515
294 E Main Street, East Brookfield, MA, 01515
$619,000
For Sale
$619,000
Three residential units plus a flexible commercial space on a full-recreational lake, with new septic installation planned.
Property Size3,534 SF
Price / SF$175.16
Days on Market665
Property Features for 294 E Main Street
General Information
- Standard status
- Active
- Size
- 3,534 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
Houseworks Realty
Listed by
Cliff Leinonen & Cindy Leinonen Team
(413) 789-9830
Source
Parksquarerealty
Added: Sep 26, 2024 Updated: Jul 22 at 3:57PM Checked: Jul 22 at 3:57PM
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 Houseworks Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes three residential units—two 1-bedroom units and one 2-bedroom unit—along with a separate flexible commercial space suited for retail, office, or café use. The seller notes that a new septic system will be installed, and that the septic design is on file and approved by the town.
Located at 294 E Main Street in East Brookfield, the property is described as a waterfront asset on Lake Lashaway and positioned on a full-recreational lake. The listing also states the units are currently rented below market and highlights a strong rental history and flexible zoning, offering multiple occupancy or leasing options depending on the buyer’s preference.
Located at 294 E Main Street in East Brookfield, the property is described as a waterfront asset on Lake Lashaway and positioned on a full-recreational lake. The listing also states the units are currently rented below market and highlights a strong rental history and flexible zoning, offering multiple occupancy or leasing options depending on the buyer’s preference.
Key Highlights
- Lake Lashaway waterfront property with three residential units (two 1‑bedrooms and one 2‑bedroom) plus a flexible commercial space
- New septic installation planned; septic design is on file and approved by the town
- All units are currently rented (reported below market), with potential for increased cash flow
Local 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 | $76.3k | $21.60 |
| − Vacancy | −$1.7k | −$0.48 |
| EGI | $74.7k | $21.12 |
| − OpEx | −$22.4k | −$6.34 |
| NOI | $52.3k | $14.79 |
3,534 SF · lease $21.60/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$746.6K
$653.2K – $871.0K
NOI $52,259 @ 7.0% cap · market cap 8.44%
Second Best
Multifamily LT 5
$682.4K
$597.1K – $796.2K
NOI $47,771 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,477 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Trolley Stop Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Three residential units plus a flexible commercial space on a full-recreational lake, with new septic installation planned.
Where is this mixed-use property located?
The property is located at 294 E Main Street East Brookfield, MA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Lake Lashaway waterfront property with three residential units (two 1‑bedrooms and one 2‑bedroom) plus a flexible commercial space; New septic installation planned; septic design is on file and approved by the town; All units are currently rented (reported below market), with potential for increased cash flow
