Building Details

Building Size 1,603 SF

Year Built 1963

Stories 3

Units 2

Listing Agency: Keller Williams Realty

Listed By: DNA Realty Group Show Phone

Source: Elliman

Added: Oct 16 Last Checked: Oct 16 at 2:20PM

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Investment Insights

Based on property information with market context.

At 400 Main St in Reading, this mixed-use building pairs a street-level commercial suite with a residence above. The business space is presently arranged for salon services, with four styling stations, shampoo sinks, dryers, storage, and a half bath. The upstairs home contains two bedrooms, an open kitchen with a four-seat peninsula, and a spacious living area. Its primary suite includes a walk-in closet, a private deck, and a bath with spa-style features.

The property also includes a fenced backyard and dates to 1963. Its commercial and residential areas are arranged within the same building on Main Street.

Key Highlights

• Street‑level salon setup includes four styling stations, shampoo sinks, dryers, storage, and a half bath
• Upstairs residence has two bedrooms and a primary suite with walk‑in closet
• Open kitchen with a four‑seat peninsula and spacious living area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,864

Cap Rate

6.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,017,280 $1.0M

Cap Rate 7%

$726,629 $726.6K

Cap Rate 9%

$565,156 $565.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,603 SF

Gross rent

$86.9K $54.24/SF

− Vacancy

−$19.1K −$11.93/SF

EGI

$67.8K $42.31/SF

− OpEx

−$17.0K −$10.58/SF

NOI

$50.9K $31.73/SF

Area

Middlesex County, MA

Vacancy

22.00%

Lease Rate

$54.24 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,017,280

Cap Rate 7%

$726,629

Cap Rate 9%

$565,156

Alternative Uses

Best Use

Office B

$726.6K

$635.8K – $847.7K (±1% cap)

NOI $50,864 @ 7.0% cap · market cap 6.37%

Second Best

Mixed Use

$377.9K

$330.6K – $440.8K (±1% cap)

NOI $26,450 @ 7.0% cap · market cap 3.31%

Theoretical Best

Office A

$949.0K

$830.4K – $1.11M (±1% cap)

NOI $66,428 @ 7.0% cap · market cap 8.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Spiritual Diva Hair ... Hair Salon

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Garden Center Furniture & Home Goods Computer & Electronic Repair Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,118

Businesses Nearby

Explore this area Business Placement

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

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A two-bedroom home occupies the upper level above a commercial suite arranged for salon services.

Where is this mixed-use property located?

The property is located at 400 Main St Reading, MA.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Street‑level salon setup includes four styling stations, shampoo sinks, dryers, storage, and a half bath; Upstairs residence has two bedrooms and a primary suite with walk‑in closet; Open kitchen with a four‑seat peninsula and spacious living area