Remodeled Office
New
For Sale
Contact for pricing
280/201 Main Street # 201, North Reading, MA 01864
The second-floor suite includes a reception area, two offices, and a kitchenette.
Property Size624 SF
Price / SF$2.88
Days on Market2
Property Features for 280/201 Main Street # 201
General Information
Standard status
Active
Size
624 SF
Property subtype
Commercial
Additional Details
Floor
Second Floor
HOA Fee
$340
Property Use
Office
Building Details
Building Size
624 SF
Year Built
1986
Year Renovated
2021
Listing Agency:
Classified Realty Group
(978) 664-0075
Listed By:
Valerie Previte · License #448501078
(978) 604-6460
Source:
Churchillprop
Added: Oct 24
Last Checked: Oct 24 at 2:41PM
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 Classified Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 624-square-foot office condo occupies the second floor of the Colonnade Building at 280 Main Street in North Reading. The interior was remodeled in 2021 and includes a waiting room, two offices, and a kitchenette. A shared bathroom is located in the hallway.
The building dates to 1986 and is situated on Route 28, also known as Main Street.
The building dates to 1986 and is situated on Route 28, also known as Main Street.
Key Highlights
- 624‑square‑foot second‑floor office condo
- Remodeled in 2021
- Waiting room, two offices, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,800
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,000
$396.0K
Cap Rate 7%
$282,857
$282.9K
Cap Rate 9%
$220,000
$220.0K
Market Conditions
NOI Build-Up for 624 SF
Gross rent
$33.8K $54.24/SF
− Vacancy
−$7.4K −$11.93/SF
EGI
$26.4K $42.31/SF
− OpEx
−$6.6K −$10.58/SF
NOI
$19.8K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,000
Cap Rate 7%
$282,857
Cap Rate 9%
$220,000
Alternative Uses
Best Use
Office B
$282.9K
$247.5K – $330.0K
NOI $19,800 @ 7.0% cap · market cap 1,100.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.4K
$323.2K – $431.0K
NOI $25,858 @ 7.0% cap · market cap 1,436.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The second-floor suite includes a reception area, two offices, and a kitchenette.
Where is this office unit located?
The property is located at 280/201 Main Street # 201 North Reading, MA.
What are key features of this property?
This property features: 624‑square‑foot second‑floor office condo; Remodeled in 2021; Waiting room, two offices, and kitchenette
