Mixed-Use Property with Private
400 Main Street Reading, MA 01867
400 Main Street, Reading, MA, 01867
$850,000
For Sale
$850,000
Mixed-use property with ground-floor salon space, a 2BR condo above, and a private fenced yard.
Property Size1,603 SF
Price / SF$530.26
Days on Market79
Property Features for 400 Main Street
General Information
- Standard status
- Active
- Size
- 1,603 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing agency
Century 21 North East
Listed by
Kimberly O'Neil Mara
(617) 694-0004
Source
Somervillelofts
Added: May 4 Updated: Jul 21 at 7:17AM Checked: Jul 21 at 7:17AM
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 combines a commercial space on the first floor with residential living above. The ground level is currently operating as a hair salon with four chairs, two sinks, and two dryers, supported by storage closets, a half bathroom, and a prep sink. Upstairs is a 2-bedroom, open-concept layout with a kitchen that includes a four-seat peninsula and a desk cubby, opening to the living room. The primary bedroom includes a walk-in closet and connects to a spa-like bathroom, with access to a deck overlooking a private fenced-in yard.
The property is located in Reading with convenient access to Routes 93 and 95 and the commuter rail. It is also positioned close to shopping, restaurants, and Reading Square.
For business owners or buyers seeking flexible live/work setup, the building offers a dedicated commercial interior and a separate residential configuration, along with outdoor private yard space.
The property is located in Reading with convenient access to Routes 93 and 95 and the commuter rail. It is also positioned close to shopping, restaurants, and Reading Square.
For business owners or buyers seeking flexible live/work setup, the building offers a dedicated commercial interior and a separate residential configuration, along with outdoor private yard space.
Key Highlights
- 1963 mixed‑use building with commercial/professional space on the first floor and a 2BR condo above
- First floor includes hair salon space with 4 chairs, 2 sinks, 2 dryers, storage closets, and a half bathroom plus prep sink
- Second‑floor condo features an open‑concept layout with kitchen peninsula seating for 4 and a desk cubby
Local Financial Insights For Mixed Use
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 | $48.1k | $30.00 |
| − Vacancy | −$5.8k | −$3.60 |
| EGI | $42.3k | $26.40 |
| − OpEx | −$15.9k | −$9.90 |
| NOI | $26.4k | $16.50 |
1,603 SF · lease $30.00/SF/yr · vacancy 12.00% · expense 37.50%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Spiritual Diva Hair ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with ground-floor salon space, a 2BR condo above, and a private fenced yard.
Where is this mixed-use property located?
The property is located at 400 Main Street 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: 1963 mixed‑use building with commercial/professional space on the first floor and a 2BR condo above; First floor includes hair salon space with 4 chairs, 2 sinks, 2 dryers, storage closets, and a half bathroom plus prep sink; Second‑floor condo features an open‑concept layout with kitchen peninsula seating for 4 and a desk cubby
