Building Details

Year Built 1900

Listing Agency: SR Commercial Realty

Listed By: Jeremy Casey · License #9585695 Show Phone

Source: 413realestate

Added: Jun 5 Changed: Sep 4 Last Checked: Sep 6 at 4:17AM

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Investment Insights

Based on property information with market context.

This mixed-use building combines a street-level commercial storefront with a residential unit above. The available commercial space is approximately 1,290 SF and is set up for tenant use with hardwood flooring and track lighting. A dedicated rear work area includes industrial wash basins, which can support a variety of service-oriented retail and light production workflows.

The property is located on a corner along Main Street in Chester, providing storefront presence at street level. The building’s design supports both commercial activity and day-to-day residential use within a single structure.

For tenants looking for a storefront with an efficient back-of-house work area, the included wash basins and dedicated rear space are practical for operations that benefit from separating customer-facing areas from work areas. The layout also suits users who want a mixed-use environment under one roof, where the residential unit above can complement ongoing street-level activity. Additional details are available upon request.

Key Highlights

• Mixed‑use building with street‑level commercial storefront and a residential unit above
• 1,290 SF commercial space available for lease
• Commercial space features hardwood flooring and track lighting

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

$13,061

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

5.80%

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%

$261,220 $261.2K

Cap Rate 7%

$186,586 $186.6K

Cap Rate 9%

$145,122 $145.1K

Market Conditions

NOI Build-Up for 1,290 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

$23.2K $18.00/SF

− Vacancy

−$2.3K −$1.80/SF

EGI

$20.9K $16.20/SF

− OpEx

−$7.8K −$6.07/SF

NOI

$13.1K $10.13/SF

Area

Hampden County, MA

Vacancy

10.00%

Lease Rate

$18.00 /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%

$261,220

Cap Rate 7%

$186,586

Cap Rate 9%

$145,122

Alternative Uses

Best Use

Office B

$584.7K

$511.7K – $682.2K (±1% cap)

NOI $40,932 @ 7.0% cap · market cap 18.19%

Second Best

Retail

$302.8K

$264.9K – $353.3K (±1% cap)

NOI $21,195 @ 7.0% cap · market cap 9.42%

Theoretical Best

Office A

$795.1K

$695.7K – $927.6K (±1% cap)

NOI $55,654 @ 7.0% cap · market cap 24.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Live-work space

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Explore this area Business Placement

Demographics for 01011, MA

1,201

Population

622

Households

1.9

Avg Household Size

50

Median Age

23%

College-Educated

96%

High-School Grad

32.8 sq mi

ZIP Area

37

Density / Sq Mi

$87,012

Median Household Income

$45,242

Median Earnings

$1,134

Median Rent

$280,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Street-level storefront with hardwood floors and industrial wash basins, paired with residential space above for a mixed-use setup.

Where is this mixed-use property located?

The property is located at 27 Main St Chester, MA.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Mixed‑use building with street‑level commercial storefront and a residential unit above; 1,290 SF commercial space available for lease; Commercial space features hardwood flooring and track lighting