Mixed-Use Retail and Residential
For Sale
$429,900
188 Auburn St, Auburn, MA 01501
Well-maintained mixed-use building with a vacant first-floor salon space and an occupied upstairs residential unit.
Property Size1,411 SF
Price / SF$304.68
Days on Market72
Property Features for 188 Auburn St
General Information
Standard status
Active
Size
1,411 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
1
Building Details
Year Built
1947
Listing Agency:
Real Broker MA, LLC
(508) 365-3532
Listed By:
Jim Black Group
(314) 325-6474
Source:
Lockandkeyre
Added: Jun 26
Changed: Sep 4
Last Checked: Sep 4 at 5:59AM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This well-maintained mixed-use property includes a vacant first-floor salon space and an occupied residential unit upstairs, creating immediate income from the upper unit while offering flexibility for the ground-floor space. The building also features on-site parking to support daily access and convenience.
Located at 188 Auburn St in Auburn, MA 01501, the property sits in an accessible commercial corridor with easy reach to Rt. 20, Rt. 12, I-290, I-395, and the Mass Pike. The surrounding area includes established businesses, retail, dining, and residential neighborhoods, supporting a steady base of local activity.
Located at 188 Auburn St in Auburn, MA 01501, the property sits in an accessible commercial corridor with easy reach to Rt. 20, Rt. 12, I-290, I-395, and the Mass Pike. The surrounding area includes established businesses, retail, dining, and residential neighborhoods, supporting a steady base of local activity.
Key Highlights
- Well‑maintained mixed‑use building built in 1947 with a vacant first‑floor salon space and an occupied upstairs residential unit
- 1,411 sq. ft. mixed‑use building providing income now with the occupied residential unit plus owner‑user or new‑tenant flexibility
- Abundance of on‑site parking for tenants and visitors
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
$19,073
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
4.44%
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%
$381,460
$381.5K
Cap Rate 7%
$272,471
$272.5K
Cap Rate 9%
$211,922
$211.9K
Market Conditions
NOI Build-Up for 1,411 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
$27.9K $19.80/SF
− Vacancy
−$690 −$0.49/SF
EGI
$27.2K $19.31/SF
− OpEx
−$8.2K −$5.79/SF
NOI
$19.1K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$381,460
Cap Rate 7%
$272,471
Cap Rate 9%
$211,922
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.4K – $317.9K
NOI $19,073 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$481.8K
$421.6K – $562.2K
NOI $33,729 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Explore this area
Business Placement
Demographics for 01501, MA
16,731
Population
7,040
Households
2.4
Avg Household Size
44
Median Age
42%
College-Educated
93%
High-School Grad
15.3 sq mi
ZIP Area
1,094
Density / Sq Mi
$101,929
Median Household Income
$62,296
Median Earnings
$1,241
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained mixed-use building with a vacant first-floor salon space and an occupied upstairs residential unit.
Where is this duplex located?
The property is located at 188 Auburn St Auburn, MA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Well‑maintained mixed‑use building built in 1947 with a vacant first‑floor salon space and an occupied upstairs residential unit; 1,411 sq. ft. mixed‑use building providing income now with the occupied residential unit plus owner‑user or new‑tenant flexibility; Abundance of on‑site parking for tenants and visitors
