Retail-Office Building Near Stop &
For Sale
Contact for pricing
247 Main, North Reading, MA 01864
For-sale retail and office space located on Main St, adjacent to the Stop & Shop retail center.
Property Size1,570 SF
Price / SF$1.67
Days on Market171
Property Features for 247 Main
General Information
Standard status
Active
Size
1,570 SF
Property subtype
Commercial
Zoning
HB
Taxes and HOA fees
Annual Taxes
$9,351
Building Details
Building Size
1,570 SF
Year Built
1960
Listing Agency:
Burnham Real Estate
(781) 665-8400
Listed By:
David Burnham
Source:
Churchillprop
Added: May 8
Changed: Oct 6
Last Checked: Oct 24 at 2:58PM
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 Burnham Real Estate
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Investment Insights
Based on property information with market context.
This retail-office building offers flexible space for business use, positioned for steady everyday exposure along a main thoroughfare. The property is presented for sale and is best suited for an owner-occupant or tenant seeking a combined retail and office environment.
Located on Rt. 28 (Main St.) in North Reading, the property benefits from immediate adjacency to the Stop & Shop retail center. This nearby retail draw can support consistent customer traffic and visibility from the surrounding retail corridor.
As a mixed-use retail/office asset, the building is a practical option for parties looking for a single property to accommodate both storefront-oriented operations and office-based functions in one address.
Located on Rt. 28 (Main St.) in North Reading, the property benefits from immediate adjacency to the Stop & Shop retail center. This nearby retail draw can support consistent customer traffic and visibility from the surrounding retail corridor.
As a mixed-use retail/office asset, the building is a practical option for parties looking for a single property to accommodate both storefront-oriented operations and office-based functions in one address.
Key Highlights
- Retail and office space on Main St (Rt. 28) in North Reading
- Year built: 1960
- Located adjacent to the Stop & Shop retail center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,565
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,300
$451.3K
Cap Rate 7%
$322,357
$322.4K
Cap Rate 9%
$250,722
$250.7K
Market Conditions
NOI Build-Up for 1,570 SF
Gross rent
$34.5K $21.96/SF
− Vacancy
−$2.2K −$1.43/SF
EGI
$32.2K $20.53/SF
− OpEx
−$9.7K −$6.16/SF
NOI
$22.6K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,300
Cap Rate 7%
$322,357
Cap Rate 9%
$250,722
Alternative Uses
Best Use
Office B
$711.7K
$622.7K – $830.3K
NOI $49,817 @ 7.0% cap · market cap 1,904.32%
Second Best
Retail
$322.4K
$282.1K – $376.1K
NOI $22,565 @ 7.0% cap · market cap 862.58%
Theoretical Best
Office A
$929.4K
$813.3K – $1.08M
NOI $65,060 @ 7.0% cap · market cap 2,487.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
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Business Placement
Demographics for 01864, MA
15,554
Population
5,920
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
1,178
Density / Sq Mi
$150,820
Median Household Income
$70,981
Median Earnings
$2,253
Median Rent
$680,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - For-sale retail and office space located on Main St, adjacent to the Stop & Shop retail center.
Where is this retail space located?
The property is located at 247 Main North Reading, MA.
What are key features of this property?
This property features: Retail and office space on Main St (Rt. 28) in North Reading; Year built: 1960; Located adjacent to the Stop & Shop retail center
