Mixed-Use Building with Private
400 Main St Reading Reading, MA 01867
400 Main St Reading, Reading, MA, 01867
$899,000
For Sale
$899,000
First-floor hair salon and upper two-bedroom residence feature a private fenced yard for dedicated outdoor use.
Property Size1,603 SF
Price / SF$560.82
Days on Market68
Property Features for 400 Main St Reading
General Information
- Standard status
- Active
- Size
- 1,603 SF
Building Details
- Year Built
- 1963
Listing agency
(508) 501-1443
Listed by
Brian DaSilva
(508) 501-1443
Source
Milestonerealtyinc
Added: May 16 Updated: Jul 22 at 4:14AM Checked: Jul 22 at 4:14AM
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
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
Local Financial Insights For Apartment 5plus
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 | $61.2k | $38.16 |
| − Vacancy | −$3.2k | −$1.98 |
| EGI | $58.0k | $36.18 |
| − OpEx | −$26.1k | −$16.28 |
| NOI | $31.9k | $19.90 |
1,603 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$455.6K
$398.7K – $531.6K
NOI $31,894 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$949.0K
$830.4K – $1.11M
NOI $66,428 @ 7.0% cap · market cap 7.39%
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
Similar Off Market Nearby
- Stop & Shop Florist — 25 Walkers Brook Dr, Reading, MA 01867
- Reading Town Florist — 47 Harnden St, Reading, MA 01867
FAQs
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 $899,000.
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
