Mixed-Use Building with Private
For Sale
$850,000
400 Main St Reading, Reading, MA 01867
First-floor hair salon and upper two-bedroom residence feature a private fenced yard for dedicated outdoor use.
Property Size1,603 SF
Price / SF$530.26
Days on Market165
Property Features for 400 Main St Reading
General Information
Standard status
Active
Size
1,603 SF
Zoning
BUSB
Taxes and HOA fees
Annual Taxes
$5,224
Building Details
Building Size
1,603 SF
Year Built
1963
Listed By:
Brian DaSilva
(774) 309-3101
Source:
Milestonerealtyinc
Added: May 16
Changed: Oct 25
Last Checked: Oct 7 at 9:54AM
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 Brian DaSilva
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Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space on the first floor with a two-bedroom residence above. The ground level is currently configured as a hair salon with four chairs, two sinks, two dryers, and storage closets, plus a half bathroom and a prep sink. Upstairs, the layout includes an open concept kitchen with a four-seat peninsula, a desk cubby, and a living room, along with two private bedrooms. The primary bedroom has a walk-in closet and a spa-like bathroom, and it connects to a deck overlooking the private fenced yard.
The property is located for convenient city access near Routes 93 and 95 and the commuter rail, with shopping, restaurants, and conveniences at Reading Square nearby.
The asset is well suited to business and personal use within the same building, with separate levels and an outdoor yard area reserved for the property.
The property is located for convenient city access near Routes 93 and 95 and the commuter rail, with shopping, restaurants, and conveniences at Reading Square nearby.
The asset is well suited to business and personal use within the same building, with separate levels and an outdoor yard area reserved for the property.
Key Highlights
- 1963 mixed‑use property with a hair salon on the first floor and a 2‑bedroom condo above
- Hair salon setup includes 4 chairs, 2 sinks, 2 dryers, storage closets, prep sink, and a half bathroom
- Upper residence features an open‑concept kitchen with a 4‑seat peninsula and desk cubby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,894
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,880
$637.9K
Cap Rate 7%
$455,629
$455.6K
Cap Rate 9%
$354,378
$354.4K
Market Conditions
NOI Build-Up for 1,603 SF
Gross rent
$61.2K $38.16/SF
− Vacancy
−$3.2K −$1.98/SF
EGI
$58.0K $36.18/SF
− OpEx
−$26.1K −$16.28/SF
NOI
$31.9K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,880
Cap Rate 7%
$455,629
Cap Rate 9%
$354,378
Alternative Uses
Best Use
Apartment 5plus
$455.6K
$398.7K – $531.6K
NOI $31,894 @ 7.0% cap · market cap 3.75%
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.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
220k
Monthly Visits Nearby
Under-served
Demand for This Use
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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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Stop & Shop Florist — 25 Walkers Brook Dr, Reading, MA 01867
- Reading Town Florist — 47 Harnden St, Reading, MA 01867
Frequently Asked Questions
What type of property is this?
Storefront property - First-floor hair salon and upper two-bedroom residence feature a private fenced yard for dedicated outdoor use.
Where is this storefront property located?
The property is located at 400 Main St Reading 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 property with a hair salon on the first floor and a 2‑bedroom condo above; Hair salon setup includes 4 chairs, 2 sinks, 2 dryers, storage closets, prep sink, and a half bathroom; Upper residence features an open‑concept kitchen with a 4‑seat peninsula and desk cubby
