Mixed-Use Property with 3-Bedroom
For Sale
$735,000
158 Fairhaven Road, Worcester, MA 01606
Two commercial spaces accompany an upstairs apartment, with recent improvements to the roof, driveway, and hot water systems.
Property Size2,928 SF
Price / SF$251.02
Days on Market90
Property Features for 158 Fairhaven Road
General Information
Standard status
Active
Size
2,928 SF
Property subtype
Commercial
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Building Details
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
RE/MAX Partners
Listed By:
James Kalogeropoulos · License #9072828
(774) 696-1810
Source:
Jmulkerinrealty
Added: Jul 23
Changed: Oct 19
Last Checked: Oct 19 at 9:29AM
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 RE/MAX Partners
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Investment Insights
Based on property information with market context.
This 2,928-square-foot mixed-use property, built in 1925, combines two commercial spaces on the first floor with a three-bedroom apartment above. One commercial unit is occupied by a hair salon with more than 40 years of operating history, while the second has undergone recent renovation and is configured for a future business or professional use. The upper-level residence receives abundant natural light and provides separate living space above the commercial component.
Recent work includes a newer driveway, roof, hot water tanks, and additional renovations throughout the property. Located at 158 Fairhaven Road in Worcester, the building presents a combination of commercial and residential space within a single asset.
Recent work includes a newer driveway, roof, hot water tanks, and additional renovations throughout the property. Located at 158 Fairhaven Road in Worcester, the building presents a combination of commercial and residential space within a single asset.
Key Highlights
- 2,928‑square‑foot mixed‑use property with two first‑floor commercial spaces and a three‑bedroom apartment
- One commercial space houses a hair salon with more than 40 years of operating history
- Second commercial space has been recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,244
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,880
$804.9K
Cap Rate 7%
$574,914
$574.9K
Cap Rate 9%
$447,156
$447.2K
Market Conditions
NOI Build-Up for 2,928 SF
Gross rent
$61.5K $21.00/SF
− Vacancy
−$4.0K −$1.37/SF
EGI
$57.5K $19.64/SF
− OpEx
−$17.2K −$5.89/SF
NOI
$40.2K $13.74/SF
Area
Worcester, MA
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,880
Cap Rate 7%
$574,914
Cap Rate 9%
$447,156
Alternative Uses
Best Use
Retail
$574.9K
$503.1K – $670.7K
NOI $40,244 @ 7.0% cap · market cap 5.48%
Second Best
Mixed Use
$564.7K
$494.1K – $658.8K
NOI $39,528 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$977.3K
$855.1K – $1.14M
NOI $68,411 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Mobil
Shops & Services
9,404 visits/mo
0.5 miles
Dollar Tree
Shops & Services
8,318 visits/mo
0.4 miles
Meineke Car Care Center
Shops & Services
1,293 visits/mo
0.4 miles
SUBWAY
Dining
1,015 visits/mo
0.4 miles
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces accompany an upstairs apartment, with recent improvements to the roof, driveway, and hot water systems.
Where is this mixed-use property located?
The property is located at 158 Fairhaven Road Worcester, MA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 2,928‑square‑foot mixed‑use property with two first‑floor commercial spaces and a three‑bedroom apartment; One commercial space houses a hair salon with more than 40 years of operating history; Second commercial space has been recently renovated
