Building Details

Year built 1850

Listing Agency: RE/MAX Prof Associates · RE/MAX International

Listed By: Lorraine Herbert Show Phone

Added: Oct 1 Changed: Oct 18 Last Checked: Oct 18 at 10:06PM

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MLS# 73585056

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Investment Insights

Based on property information with market context.

This mixed-use commercial property contains five units with retail and professional office uses. The building encompasses approximately 5,929 square feet on a 0.53-acre parcel and dates to 1850. CTD zoning identifies the site as part of the Commercial Tourist District. The property has 28 newly paved parking spaces.

Located at 454 Main St in Sturbridge, the property combines its commercial spaces with on-site parking at a Main Street address.

Key Highlights

• Five units with retail and professional office uses
• Approximately 5,929 square feet on 0.53 acres
• 28 newly paved parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,674

Cap Rate

8.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,753,480 $1.8M

Cap Rate 7%

$1,252,486 $1.3M

Cap Rate 9%

$974,156 $974.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,929 SF

Gross rent

$128.1K $21.60/SF

− Vacancy

−$2.8K −$0.48/SF

EGI

$125.2K $21.12/SF

− OpEx

−$37.6K −$6.34/SF

NOI

$87.7K $14.79/SF

Area

Worcester County, MA

Vacancy

2.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,753,480

Cap Rate 7%

$1,252,486

Cap Rate 9%

$974,156

Alternative Uses

Best Use

Retail

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,674 @ 7.0% cap · market cap 8.01%

Second Best

Mixed Use

$763.9K

$668.4K – $891.2K (±1% cap)

NOI $53,472 @ 7.0% cap · market cap 4.88%

Theoretical Best

Office A

$2.02M

$1.77M – $2.36M (±1% cap)

NOI $141,727 @ 7.0% cap · market cap 12.94%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store Bakery Parking Lot & Garage

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

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

277

Businesses Nearby

37k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 75% Dining 16% Hotels & Casinos 9%

Cumberland Farms Shops & Services

19,324 visits/mo 0.4 miles

Dunkin' Donuts Dining

6,062 visits/mo 0.1 miles

Yankee Candle Shops & Services

4,718 visits/mo 0.1 miles

Citgo Shops & Services

3,814 visits/mo 0.4 miles

Econo Lodge Hotels & Casinos

2,111 visits/mo 0.3 miles

Demographics for 01518, MA

3,176

Population

1,291

Households

2.5

Avg Household Size

40

Median Age

47%

College-Educated

97%

High-School Grad

12.2 sq mi

ZIP Area

260

Density / Sq Mi

$111,193

Median Household Income

$64,856

Median Earnings

$1,051

Median Rent

$410,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail and professional office occupants share a CTD-zoned property with on-site parking.

Where is this mixed-use property located?

The property is located at 454 Main St Sturbridge, MA.

What is the asking price?

The asking price for this property is $1,095,000.

What are key features of this property?

This property features: Five units with retail and professional office uses; Approximately 5,929 square feet on 0.53 acres; 28 newly paved parking spaces