Main Street Mixed-Use
For Sale
$5,500,000
393 Main St, Medford, MA 02155
C1-zoned property with an existing two-tenant building and redevelopment capacity for a five-story structure.
Property Size11,700 SF
Days on Market12
Property Features for 393 Main St
General Information
Standard status
Active
Size
11,700 SF
Property subtype
Multifamily
Occupancy
1%
Amenities
Main Street development opportunity located in the heart of Medford, MA. Just 1/2 mile to Tuft University and approximately 5-miles (15-minutes) north of Downtown Boston.
Currently a single story, two-tenant building with approximately 12,000 SF on .18 acres and 70 feet of frontage. Zoned C-1 which allows up to a five-story structure.
The City of Medford is currently undergoing a Zoning reform throughout the city which will allow new/improved use/dimension requirements. Multifamily/mixed-use development is encouraged.
Building Details
Building Size
11,700 SF
Units
2
Listed By:
Matt Pierce · License #License(s): MA: 9506948
(617) 896-7214
Source:
Marcusmillichap
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 3:40AM
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 Matt Pierce
Investment Insights
Based on property information with market context.
This mixed-use property includes a single-story, two-tenant building containing approximately 12,000 SF on a 0.18-acre parcel. The site provides 70 feet of frontage and is zoned C1 Commercial. The existing structure offers an established commercial footprint, while the parcel also supports redevelopment planning under the applicable zoning framework.
The property is located on Main Street in Downtown Medford, approximately 0.5 miles from Tufts University and 5 miles north of Downtown Boston. The City of Medford allows a five-story structure at this parcel location, creating documented potential for commercial, residential, or mixed-use development.
The property is located on Main Street in Downtown Medford, approximately 0.5 miles from Tufts University and 5 miles north of Downtown Boston. The City of Medford allows a five-story structure at this parcel location, creating documented potential for commercial, residential, or mixed-use development.
Key Highlights
- Approximately 12,000 SF single‑story, two‑tenant building
- 0.18‑acre parcel with 70 feet of frontage
- C1 Commercial zoning
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
$193,050
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
3.51%
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%
$3,861,000
$3.9M
Cap Rate 7%
$2,757,857
$2.8M
Cap Rate 9%
$2,145,000
$2.1M
Market Conditions
NOI Build-Up for 11,700 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
$351.0K $30.00/SF
− Vacancy
−$42.1K −$3.60/SF
EGI
$308.9K $26.40/SF
− OpEx
−$115.8K −$9.90/SF
NOI
$193.1K $16.50/SF
Area
Middlesex County, MA
Vacancy
12.00%
Lease Rate
$30.00 /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%
$3,861,000
Cap Rate 7%
$2,757,857
Cap Rate 9%
$2,145,000
Alternative Uses
Best Use
Mixed Use
$2.76M
$2.41M – $3.22M
NOI $193,050 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$2.40M
$2.10M – $2.80M
NOI $168,162 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$6.93M
$6.06M – $8.08M
NOI $484,845 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 26%
Home Improvements & Furnishings 3%
Burger King
Dining
22,105 visits/mo
0.4 miles
Dunkin' Donuts
Dining
17,098 visits/mo
0.3 miles
Dunkin' Donuts
Dining
6,731 visits/mo
0.5 miles
AutoZone
Shops & Services
6,042 visits/mo
0.4 miles
7-Eleven
Shops & Services
5,303 visits/mo
0.4 miles
Demographics for 02155, MA
61,483
Population
25,893
Households
2.4
Avg Household Size
36
Median Age
58%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
7,498
Density / Sq Mi
$118,403
Median Household Income
$60,825
Median Earnings
$2,483
Median Rent
$715,500
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?
Mixed-use property - C1-zoned property with an existing two-tenant building and redevelopment capacity for a five-story structure.
Where is this mixed-use property located?
The property is located at 393 Main St Medford, MA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Approximately 12,000 SF single‑story, two‑tenant building; 0.18‑acre parcel with 70 feet of frontage; C1 Commercial zoning
