Mixed-Use Property with Updated
For Sale
$859,000
254 N Main Street, Natick, MA 01760
The property is designated for both commercial and residential purposes.
Property Size3,064 SF
Days on Market97
Property Features for 254 N Main Street
General Information
Standard status
Active
Size
3,064 SF
Property subtype
COMMERCIAL
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,115
Building Details
Building Size
3,064 SF
Year Built
1900
Listing Agency:
Century 21 North East
(617) 999-6422
Listed By:
Frederica Tassis · License #9539341
Source:
Rutledgeproperties
Added: May 5
Changed: Aug 8
Last Checked: Aug 8 at 9:48AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property carries a designation supporting both commercial and residential purposes. Recent improvements include a roof, three new electrical panels, new kitchen cabinets, recessed lighting, and a mini-split system, each completed 4 years ago. The property may suit professional office occupancy, subject to the buyer’s independent review of permitted use and zoning requirements.
The property is located on N Main Street in Natick, with access to the MA Pike and the Framingham/Worcester commuter rail lines. Downtown amenities cited for the area include TCAN, the Farmers Market, shops, and restaurants. Boston and Worcester are also identified as nearby regional destinations.
The property is located on N Main Street in Natick, with access to the MA Pike and the Framingham/Worcester commuter rail lines. Downtown amenities cited for the area include TCAN, the Farmers Market, shops, and restaurants. Boston and Worcester are also identified as nearby regional destinations.
Key Highlights
- Commercial and residential designation
- Roof, 3 new electrical panels, kitchen cabinets, recessed lights, and mini‑split system completed 4 years ago
- Built in 1900
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
$50,556
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
5.89%
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%
$1,011,120
$1.0M
Cap Rate 7%
$722,229
$722.2K
Cap Rate 9%
$561,733
$561.7K
Market Conditions
NOI Build-Up for 3,064 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
$91.9K $30.00/SF
− Vacancy
−$11.0K −$3.60/SF
EGI
$80.9K $26.40/SF
− OpEx
−$30.3K −$9.90/SF
NOI
$50.6K $16.50/SF
Area
Middlesex County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,011,120
Cap Rate 7%
$722,229
Cap Rate 9%
$561,733
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,222 @ 7.0% cap · market cap 11.32%
Second Best
Mixed Use
$722.2K
$632.0K – $842.6K
NOI $50,556 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,971 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 01760, MA
36,659
Population
15,838
Households
2.3
Avg Household Size
42
Median Age
69%
College-Educated
98%
High-School Grad
14.8 sq mi
ZIP Area
2,477
Density / Sq Mi
$134,644
Median Household Income
$77,632
Median Earnings
$2,061
Median Rent
$740,700
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?
Mixed-use property - The property is designated for both commercial and residential purposes.
Where is this mixed-use property located?
The property is located at 254 N Main Street Natick, MA.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Commercial and residential designation; Roof, 3 new electrical panels, kitchen cabinets, recessed lights, and mini‑split system completed 4 years ago; Built in 1900
