Mixed-Use Property with Private
For Sale
$850,000
400 Main, Reading, MA 01867
Mixed-use building with a gym/office level, a hair salon setup downstairs, and a 2BR condo above.
Property Size1,603 SF
Days on Market125
Property Features for 400 Main
General Information
Standard status
Active
Size
1,603 SF
Total Parking Spaces
4
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$5,224
Building Details
Building Size
1,603 SF
Year Built
1963
Listing Agency:
Century 21 North East
Listed By:
Kimberly O'Neil Mara · License #448552280
(617) 504-5945
Source:
Classifiedrealtygroup
Added: Jun 3
Changed: Oct 4
Last Checked: Oct 4 at 6:59AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This mixed-use property includes a condo-style residence with two bedrooms and a kitchen that opens to the living room, plus a bathroom with a connecting primary bedroom and a deck overlooking the fenced backyard. The upper level features an open-concept kitchen with a four-seat peninsula and a desk cubby, along with closets throughout.
The first-floor commercial space is currently configured for a hair salon with four chairs, two sinks, two dryers, a prep sink, storage closets, and a half bathroom. The property also includes a fenced yard area intended as private outdoor space.
The building is positioned for convenient city access near routes 93 and 95 and the commuter rail, with shopping, restaurants, and conveniences at Reading Square nearby. It offers an on-site commercial and residential combination suitable for business and living on the same premises.
The first-floor commercial space is currently configured for a hair salon with four chairs, two sinks, two dryers, a prep sink, storage closets, and a half bathroom. The property also includes a fenced yard area intended as private outdoor space.
The building is positioned for convenient city access near routes 93 and 95 and the commuter rail, with shopping, restaurants, and conveniences at Reading Square nearby. It offers an on-site commercial and residential combination suitable for business and living on the same premises.
Key Highlights
- Mixed‑use building (built 1963) with gym/office space below and a 2BR condo above
- Hair salon setup on the first floor with 4 chairs, 2 sinks, 2 dryers, storage closets, prep sink, and a half bathroom
- Private fenced yard attached to the lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,450
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,000
$529.0K
Cap Rate 7%
$377,857
$377.9K
Cap Rate 9%
$293,889
$293.9K
Market Conditions
NOI Build-Up for 1,603 SF
Gross rent
$48.1K $30.00/SF
− Vacancy
−$5.8K −$3.60/SF
EGI
$42.3K $26.40/SF
− OpEx
−$15.9K −$9.90/SF
NOI
$26.4K $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 Rate 5%
$529,000
Cap Rate 7%
$377,857
Cap Rate 9%
$293,889
Alternative Uses
Best Use
Mixed Use
$377.9K
$330.6K – $440.8K
NOI $26,450 @ 7.0% cap · market cap 3.11%
Second Best
Retail
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$949.0K
$830.4K – $1.11M
NOI $66,428 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
220k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Dining 34%
Shops & Services 13%
Beauty & Spa 2%
Market Basket
Groceries
68,784 visits/mo
0.3 miles
Stop & Shop
Groceries
37,451 visits/mo
0.4 miles
McDonald's
Dining
21,575 visits/mo
0.1 miles
LongHorn Steakhouse
Dining
12,967 visits/mo
0.5 miles
Starbucks
Dining
10,218 visits/mo
0.5 miles
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with a gym/office level, a hair salon setup downstairs, and a 2BR condo above.
Where is this mixed-use property located?
The property is located at 400 Main Reading, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Mixed‑use building (built 1963) with gym/office space below and a 2BR condo above; Hair salon setup on the first floor with 4 chairs, 2 sinks, 2 dryers, storage closets, prep sink, and a half bathroom; Private fenced yard attached to the lower level
