Multi-Tenant Storefront
New
For Sale
$2,800,000
309 Main St, Watertown, MA 02472
Three separately accessed tenant spaces have dedicated gas and electric service.
Property Size12,646 SF
Price / SF$221.41
Days on Market2
Property Features for 309 Main St
General Information
Standard status
Active
Size
12,646 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$50,883
Building Details
Building Size
12,646 SF
Year Built
1950
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
W. J. Nealon Commercial Realty, Inc.
Listed By:
John Nealon · License #MA 135760-RE-B
(617) 926-1110
Source:
Classifiedrealtygroup
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:25AM
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 W. J. Nealon Commercial Realty, Inc.
Investment Insights
Based on property information with market context.
This 12,646-square-foot storefront building, constructed in 1950, has a single-level layout and is leased to three tenants. Each space has its own entrance and dedicated gas and electric service. Approximately 5,300 square feet may become available in Q3 2027, subject to the existing lease arrangement.
The property is at 309 Main St, just outside Watertown Square in Watertown, Massachusetts.
The property is at 309 Main St, just outside Watertown Square in Watertown, Massachusetts.
Key Highlights
- 12,646‑square‑foot building constructed in 1950
- Three tenants, each with a separate entrance and dedicated gas and electric service
- Approximately 5,300 square feet potentially available in Q3 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,759
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,635,180
$3.6M
Cap Rate 7%
$2,596,557
$2.6M
Cap Rate 9%
$2,019,544
$2.0M
Market Conditions
NOI Build-Up for 12,646 SF
Gross rent
$277.7K $21.96/SF
− Vacancy
−$18.1K −$1.43/SF
EGI
$259.7K $20.53/SF
− OpEx
−$77.9K −$6.16/SF
NOI
$181.8K $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%
$3,635,180
Cap Rate 7%
$2,596,557
Cap Rate 9%
$2,019,544
Alternative Uses
Best Use
Retail
$2.60M
$2.27M – $3.03M
NOI $181,759 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.49M
$6.55M – $8.73M
NOI $524,047 @ 7.0% cap · market cap 18.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 83%
Shops & Services 15%
Home Improvements & Furnishings 2%
McDonald's
Dining
28,558 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,567 visits/mo
0.2 miles
Bank of America
Shops & Services
7,651 visits/mo
0.4 miles
Not Your Average Joe's
Dining
2,806 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
1,070 visits/mo
0.2 miles
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Three separately accessed tenant spaces have dedicated gas and electric service.
Where is this storefront property located?
The property is located at 309 Main St Watertown, MA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 12,646‑square‑foot building constructed in 1950; Three tenants, each with a separate entrance and dedicated gas and electric service; Approximately 5,300 square feet potentially available in Q3 2027
