Highly Visible Office with
For Sale
$409,900
215 Central Street, Winchendon, MA 01475
First-floor office space with FHA heat and central air, plus a second-floor apartment on a month-to-month basis.
Property Size2,596 SF
Price / SF$157.90
Days on Market8
Property Features for 215 Central Street
General Information
Standard status
Active
Size
2,596 SF
Property subtype
Commercial
Units
Multifamily Units
1
Office Units
1
Additional Details
Furnished
Yes
Building Details
Year Built
1900
Stories
2
Listing Agency:
Sparks Real Estate
(978) 894-5813
Listed By:
Nancy Macomber
(978) 894-5813
Source:
Lockandkeyre
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 30 at 6:26AM
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 Sparks Real Estate
Investment Insights
Based on property information with market context.
This highly visible downtown building offers two distinct levels. The first floor has been used by a successful real estate company since 1992 and includes FHA heat and central air conditioning. The second floor is a spacious apartment currently occupied on a month-to-month basis, with the tenant paying their own electric and heat through electric baseboard.
Recent improvements include the roof, paved driveway, and updated electrical and plumbing. Custom office furniture on the first floor will convey with the property.
Designed for mixed-income use, the property’s configuration supports an owner-occupant or investment approach with both an office component and a residential rental unit.
Recent improvements include the roof, paved driveway, and updated electrical and plumbing. Custom office furniture on the first floor will convey with the property.
Designed for mixed-income use, the property’s configuration supports an owner-occupant or investment approach with both an office component and a residential rental unit.
Key Highlights
- Downtown Winchendon mixed‑use building built in 1900, featuring first‑floor office space and a second‑floor apartment.
- First‑floor office has FHA heat and central air; custom office furniture will convey.
- Second‑floor apartment rented at $1,550/month; tenant is month‑to‑month and pays their own electric and heat via electric baseboard.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.0k | $21.96 |
| − Vacancy | −$1.5k | −$0.57 |
| EGI | $55.5k | $21.39 |
| − OpEx | −$25.0k | −$9.63 |
| NOI | $30.5k | $11.76 |
2,596 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Office B
$675.9K
$591.4K – $788.5K
NOI $47,312 @ 7.0% cap · market cap 11.54%
Second Best
Apartment 5plus
$436.3K
$381.7K – $509.0K
NOI $30,539 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$886.5K
$775.7K – $1.03M
NOI $62,055 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 01475, MA
10,304
Population
4,095
Households
2.5
Avg Household Size
42
Median Age
24%
College-Educated
94%
High-School Grad
42.8 sq mi
ZIP Area
241
Density / Sq Mi
$85,638
Median Household Income
$50,352
Median Earnings
$1,245
Median Rent
$294,900
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?
Office building - First-floor office space with FHA heat and central air, plus a second-floor apartment on a month-to-month basis.
Where is this office building located?
The property is located at 215 Central Street Winchendon, MA.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Downtown Winchendon mixed‑use building built in 1900, featuring first‑floor office space and a second‑floor apartment.; First‑floor office has FHA heat and central air; custom office furniture will convey.; Second‑floor apartment rented at $1,550/month; tenant is month‑to‑month and pays their own electric and heat via electric baseboard.
