Building Details

Year Built 1900

Stories 2

Listing Agency: RE/MAX Vision d***@net1plus.com Show Phone

Listed By: Donna Warfield · License #9007286

Source: Laerrealty

Added: Jul 9 Changed: Jul 10 Last Checked: Aug 24 at 3:19AM

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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 RE/MAX Vision

Investment Insights

Based on property information with market context.

This mixed-use building offers two first-floor commercial rental units: a 3-room office suite and a food window service. The first-floor office includes a lease agreement through 6-30-27 and the lease includes heat, hot water, and electric. The food service window has metered electric, and a 3-bowl scullery system was installed in 2018. A common half bath on the first floor and tenant shared coin-op laundry support the commercial space.

The second floor includes two residential apartment units, each with separate utilities and legal egress, and they are tenant occupied under separate tenancies. Landlord-owned appliances and laundry items include 2 stoves, 2 refrigerators, and coin-op washer/dryer plus a scullery sink unit. The property is secured and has low maintenance vinyl siding.

Additional building updates noted include a roof completed in 2016. The offering includes plenty of off-street parking, and the building is described as close to shopping, banks, restaurants, schools, and Felton Field, with commuter-friendly access.

Key Highlights

• Mixed‑use building with 2 first‑floor commercial rental units and 2 second‑floor residential apartment units
• 1st‑floor office has a lease agreement through 6‑30‑27; includes heat, hot water and electric
• Food window service tenant uses metered electric; 3‑bowl scullery system installed in 2018

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$21,167

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.23%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$423,340 $423.3K

Cap Rate 7%

$302,386 $302.4K

Cap Rate 9%

$235,189 $235.2K

Market Conditions

NOI Build-Up for 2,347 SF 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.

Gross rent

$36.6K $15.60/SF

− Vacancy

−$2.7K −$1.17/SF

EGI

$33.9K $14.43/SF

− OpEx

−$12.7K −$5.41/SF

NOI

$21.2K $9.02/SF

Area

Worcester County, MA

Vacancy

7.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$423,340

Cap Rate 7%

$302,386

Cap Rate 9%

$235,189

Alternative Uses

Best Use

Office B

$611.1K

$534.7K – $712.9K (±1% cap)

NOI $42,774 @ 7.0% cap · market cap 10.56%

Second Best

Mixed Use

$302.4K

$264.6K – $352.8K (±1% cap)

NOI $21,167 @ 7.0% cap · market cap 5.23%

Theoretical Best

Office A

$801.5K

$701.3K – $935.1K (±1% cap)

NOI $56,103 @ 7.0% cap · market cap 13.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Ms. Melissa Wojtkowski Counselor Sonya Brock Foster Care Service

Suggested Use

Top Pick Auto Parts Store Storage Facility Pharmacy (Bike/Boat/Book/etc) Store Hair Salon Kitchen & Bath Showroom

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

1

Office units

2

Residential units

Location Intelligence

Trade Area within ½ mile

104

Businesses Nearby

Explore this area Business Placement

Demographics for 01005, MA

4,900

Population

1,876

Households

2.6

Avg Household Size

43

Median Age

36%

College-Educated

92%

High-School Grad

43.2 sq mi

ZIP Area

113

Density / Sq Mi

$97,390

Median Household Income

$47,564

Median Earnings

$1,603

Median Rent

$328,500

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two first-floor commercial rental units pair with two second-floor residential apartments in a secured, low-maintenance building.

Where is this mixed-use property located?

The property is located at 531 Summer St Barre, MA.

What is the asking price?

The asking price for this property is $405,000.

What are key features of this property?

This property features: Mixed‑use building with 2 first‑floor commercial rental units and 2 second‑floor residential apartment units; 1st‑floor office has a lease agreement through 6‑30‑27; includes heat, hot water and electric; Food window service tenant uses metered electric; 3‑bowl scullery system installed in 2018