Mixed-Use Live-Work Building with
381 Summer Street Fitchburg, MA 01420
381 Summer Street, Fitchburg, MA, 01420
$699,900
For Sale
$699,900
Newer 2015 building with off-street parking, a 2-car garage, and a first-floor plumbing tenant plus an upstairs apartment.
Property Size2,018 SF
Price / SF$346.83
Days on Market261
Property Features for 381 Summer Street
General Information
- Standard status
- Active
- Size
- 2,018 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2015
Listing agency
Keller Williams Realty North Central
Listed by
Kathleen Walsh
(781) 545-3155
Source
Grandgables
Added: Nov 3, 2025 Updated: Jul 21 at 12:17AM Checked: Jul 21 at 6:08AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
Built in 2015, this mixed-use live-work building features a large exterior footprint with extensive off-street parking and an oversized 2-car garage. The first floor is currently occupied by a plumbing company, and the upper level is set up as a one-bedroom apartment.
The apartment includes hardwood flooring, stainless steel appliances, recessed lighting, mini splits, and ample closet space.
With both an occupied commercial component and a separate residential unit configuration, the property provides a straightforward mixed-use setup within a newer construction profile.
The apartment includes hardwood flooring, stainless steel appliances, recessed lighting, mini splits, and ample closet space.
With both an occupied commercial component and a separate residential unit configuration, the property provides a straightforward mixed-use setup within a newer construction profile.
Key Highlights
- 2015 building used as a mixed‑use property with a first‑floor plumbing company tenant and an upstairs 1‑bedroom apartment
- Large exterior footprint with tons of off‑street parking plus an oversized 2‑car garage
- Upstairs 1‑bedroom apartment includes hardwood floors, stainless steel appliances, and recessed lighting
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.5k | $30.00 |
| − Vacancy | −$11.5k | −$5.70 |
| EGI | $49.0k | $24.30 |
| − OpEx | −$12.3k | −$6.08 |
| NOI | $36.8k | $18.23 |
2,018 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$525.4K
$459.7K – $613.0K
NOI $36,778 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$426.3K
$373.0K – $497.4K
NOI $29,841 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$689.1K
$603.0K – $804.0K
NOI $48,238 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
O.G. Croteau Plumbing ...
Plumbing Service
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Newer 2015 building with off-street parking, a 2-car garage, and a first-floor plumbing tenant plus an upstairs apartment.
Where is this live-work space located?
The property is located at 381 Summer Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2015 building used as a mixed‑use property with a first‑floor plumbing company tenant and an upstairs 1‑bedroom apartment; Large exterior footprint with tons of off‑street parking plus an oversized 2‑car garage; Upstairs 1‑bedroom apartment includes hardwood floors, stainless steel appliances, and recessed lighting
