Renovated Mixed-Use
New
For Sale
$4,000,000
724 Main St, Winchester, MA 01890
A four-level layout combines private offices, meeting rooms, open work areas and on-site parking.
Property Size7,010 SF
Price / SF$570.61
Days on Market3
Property Features for 724 Main St
General Information
Standard status
Active
Size
7,010 SF
Total Parking Spaces
19
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,425
Building Details
Year Built
1880
Buildings
1
Stories
4
Building Size
7,010 SF
Listing Agency:
Compass
(413) 333-7776
Listed By:
Kim Covino & Co. Team
(781) 219-0313
Source:
Ma-cthomes
Added: Sep 24
Last Checked: Sep 26 at 3:14AM
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 Compass
Investment Insights
Based on property information with market context.
Renovated in a building dating to 1880, this mixed-use property contains approximately 7,010 square feet across four levels. Its layout includes private offices, conference and meeting rooms, open work areas, and multiple restrooms. The property also has 19 parking spaces and a garage with direct access, along with views of Wedge pond.
The property is near Winchester Center, with a bus line outside the building and access to the commuter rail. Schools, restaurants, coffee shops, retail, banks, and downtown amenities are also nearby. Mixed-use zoning allows for consideration of residential redevelopment.
The property is near Winchester Center, with a bus line outside the building and access to the commuter rail. Schools, restaurants, coffee shops, retail, banks, and downtown amenities are also nearby. Mixed-use zoning allows for consideration of residential redevelopment.
Key Highlights
- Approximately 7,010 square feet across four levels
- 19 parking spaces and a direct‑access garage
- Office layout includes private rooms, meeting areas, open work areas and multiple restrooms
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
$222,430
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
5.56%
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%
$4,448,600
$4.4M
Cap Rate 7%
$3,177,571
$3.2M
Cap Rate 9%
$2,471,444
$2.5M
Market Conditions
NOI Build-Up for 7,010 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
$380.2K $54.24/SF
− Vacancy
−$83.6K −$11.93/SF
EGI
$296.6K $42.31/SF
− OpEx
−$74.1K −$10.58/SF
NOI
$222.4K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$4,448,600
Cap Rate 7%
$3,177,571
Cap Rate 9%
$2,471,444
Alternative Uses
Best Use
Office B
$3.18M
$2.78M – $3.71M
NOI $222,430 @ 7.0% cap · market cap 5.56%
Second Best
Mixed Use
$1.65M
$1.45M – $1.93M
NOI $115,665 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,493 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-level layout combines private offices, meeting rooms, open work areas and on-site parking.
Where is this mixed-use property located?
The property is located at 724 Main St Winchester, MA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Approximately 7,010 square feet across four levels; 19 parking spaces and a direct‑access garage; Office layout includes private rooms, meeting areas, open work areas and multiple restrooms
