Renovated Mixed-Use
For Sale
$575,000
1500 N Main St, Palmer, MA 01069
Flexible commercial and residential configuration with retail, private offices, workshop space, and a two-bedroom apartment.
Property Size4,403 SF
Price / SF$130.59
Days on Market123
Property Features for 1500 N Main St
General Information
Standard status
Active
Size
4,403 SF
Property subtype
Commercial
Zoning
GB
Taxes and HOA fees
Annual Taxes
$4,565
Building Details
Building Size
4,403 SF
Year Built
2020
Construction
Victorian
Listing Agency:
J.M.I. Investment Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 1:43PM
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 J.M.I. Investment Properties
Investment Insights
Based on property information with market context.
This 4,403-square-foot mixed-use property, built in 2020, combines commercial space with an on-site residential component. The main level provides a three-room retail area, while three private offices are distributed across the first and second floors. A basement workshop adds utility for business operations or storage, and the two-bedroom apartment supports residential occupancy within the same property. Modern updates are paired with a layout suited to continued mixed-use operation.
The property is located at 1500 N Main St in Palmer, Massachusetts, with off-street parking serving both commercial and residential functions. GB zoning is in place. Nearby antique destinations and regional events contribute to the surrounding area’s established draw, while upcoming passenger rail accessibility is also noted.
The property is located at 1500 N Main St in Palmer, Massachusetts, with off-street parking serving both commercial and residential functions. GB zoning is in place. Nearby antique destinations and regional events contribute to the surrounding area’s established draw, while upcoming passenger rail accessibility is also noted.
Key Highlights
- 4,403‑square‑foot mixed‑use property at 1500 N Main St, Palmer, MA 01069
- GB zoning and 2020 construction
- Three‑room retail area on the main level
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
$44,580
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
7.75%
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%
$891,600
$891.6K
Cap Rate 7%
$636,857
$636.9K
Cap Rate 9%
$495,333
$495.3K
Market Conditions
NOI Build-Up for 4,403 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
$79.3K $18.00/SF
− Vacancy
−$7.9K −$1.80/SF
EGI
$71.3K $16.20/SF
− OpEx
−$26.7K −$6.07/SF
NOI
$44.6K $10.13/SF
Area
Hampden County, MA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$891,600
Cap Rate 7%
$636,857
Cap Rate 9%
$495,333
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,709 @ 7.0% cap · market cap 24.30%
Second Best
Retail
$1.03M
$904.3K – $1.21M
NOI $72,343 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$2.71M
$2.37M – $3.17M
NOI $189,956 @ 7.0% cap · market cap 33.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 01069, MA
8,428
Population
4,192
Households
2
Avg Household Size
47
Median Age
25%
College-Educated
86%
High-School Grad
28.1 sq mi
ZIP Area
300
Density / Sq Mi
$79,725
Median Household Income
$50,341
Median Earnings
$929
Median Rent
$251,300
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 - Flexible commercial and residential configuration with retail, private offices, workshop space, and a two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 1500 N Main St Palmer, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 4,403‑square‑foot mixed‑use property at 1500 N Main St, Palmer, MA 01069; GB zoning and 2020 construction; Three‑room retail area on the main level
