Remodeled Second-Floor Office
For Sale
Contact for pricing
280 Main Street # 201, North Reading, MA 01864
Compact professional suite with a waiting area, two private offices, kitchenette, and shared hallway bathroom.
Property Size624 SF
Price / SF$2.88
Days on Market47
Property Features for 280 Main Street # 201
General Information
Standard status
Active
Size
624 SF
Property subtype
Commercial
Additional Details
Floor
2
HOA Fee
$340
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: Sep 5
Changed: Oct 6
Last Checked: Oct 20 at 5:55PM
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
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Investment Insights
Based on property information with market context.
This 624-square-foot office unit occupies the second floor of the Colonnade Building at 280 Main Street in North Reading. The suite was remodeled in 2021 and includes a waiting room, two offices, a kitchenette, and access to a shared bathroom in the hallway.
Constructed in 1986, the building is positioned along Route 28 and Main Street. The unit provides a practical layout for professional office use, with defined areas for reception, private workspaces, and basic break-area functions.
Constructed in 1986, the building is positioned along Route 28 and Main Street. The unit provides a practical layout for professional office use, with defined areas for reception, private workspaces, and basic break-area functions.
Key Highlights
- 624‑square‑foot second‑floor office unit
- Remodeled in 2021
- Waiting room plus 2 offices
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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Compact professional suite with a waiting area, two private offices, kitchenette, and shared hallway bathroom.
Where is this office unit located?
The property is located at 280 Main Street # 201 North Reading, MA.
What are key features of this property?
This property features: 624‑square‑foot second‑floor office unit; Remodeled in 2021; Waiting room plus 2 offices
