Renovated Mixed-Use
New
For Sale
$300,000
190 Main St, Athol, MA 01331
Two-level property combining a vacant retail area with an upstairs residential studio and updated building systems.
Property Size1,692 SF
Lot Size0.10 Acres
Price / SF$177.30
Days on Market3
Property Features for 190 Main St
General Information
Standard status
Active
Size
1,692 SF
Lot size
0.10 Acres
Property subtype
Retail
Building Details
Building Size
1,692 SF
Year Built
1900
Year Renovated
2017
Listing Agency:
The Stubblebine Company - CORFAC International
(781) 879-2543
Listed By:
Chloe Stubblebine · License #MA #9581528
(781) 879-2543
Source:
Corfac
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 4:46AM
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 The Stubblebine Company - CORFAC International
Investment Insights
Based on property information with market context.
This two-level mixed-use property combines commercial and residential components within a 1,692-square-foot building. The ground-floor retail area is vacant, while the upper level is configured as a residential studio. Building improvements include a 2017 renovation and a newer roof.
Heating and cooling are supported by propane heaters and mini-split systems serving both floors. The property occupies 0.10 acres at 190 Main St in Athol, Massachusetts, and dates to 1900.
Heating and cooling are supported by propane heaters and mini-split systems serving both floors. The property occupies 0.10 acres at 190 Main St in Athol, Massachusetts, and dates to 1900.
Key Highlights
- 1,692 SF mixed‑use building with retail and residential studio components
- Ground‑floor retail area is vacant
- Upper level configured as a residential studio
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
$25,020
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
8.34%
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%
$500,400
$500.4K
Cap Rate 7%
$357,429
$357.4K
Cap Rate 9%
$278,000
$278.0K
Market Conditions
NOI Build-Up for 1,692 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
$36.5K $21.60/SF
− Vacancy
−$804 −$0.48/SF
EGI
$35.7K $21.12/SF
− OpEx
−$10.7K −$6.34/SF
NOI
$25.0K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /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%
$500,400
Cap Rate 7%
$357,429
Cap Rate 9%
$278,000
Alternative Uses
Best Use
Retail
$357.4K
$312.8K – $417.0K
NOI $25,020 @ 7.0% cap · market cap 8.34%
Second Best
Mixed Use
$218.0K
$190.8K – $254.3K
NOI $15,260 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$577.8K
$505.6K – $674.1K
NOI $40,446 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Cumberland Farms
Shops & Services
10,895 visits/mo
0.1 miles
Ocean State Job Lot
Shops & Services
7,792 visits/mo
0.2 miles
BP
Shops & Services
2,294 visits/mo
0.1 miles
Domino's Pizza
Dining
1,700 visits/mo
0.1 miles
Liberty Tax
Shops & Services
672 visits/mo
0.2 miles
Demographics for 01331, MA
13,656
Population
6,050
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
54.2 sq mi
ZIP Area
252
Density / Sq Mi
$68,345
Median Household Income
$42,132
Median Earnings
$1,041
Median Rent
$257,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combining a vacant retail area with an upstairs residential studio and updated building systems.
Where is this mixed-use property located?
The property is located at 190 Main St Athol, MA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,692 SF mixed‑use building with retail and residential studio components; Ground‑floor retail area is vacant; Upper level configured as a residential studio
