Mixed-Use Building with Office and Food
New
For Sale
$399,900
531 Summer St, Barre, MA 01005
Two commercial rental units on the first floor and two residential apartments on the second floor, with secured access and off-street parking.
Days on Market5
Property Features for 531 Summer St
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Floor
1
Utilities to Site
Yes
Office Units
1
Amenities
secured building
coin-op laundry
Building Details
Building Size
2,347 SF
Year Built
1900
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Vision
(508) 479-1407
Listed By:
Donna Warfield · License #9007286
(508) 479-1407
Source:
Threehillsres
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 31 at 12:53PM
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 includes two commercial rental units on the first floor and two residential apartments on the second floor. The first floor offers a 3-room office suite and a food window service. The office has a lease agreement in place until 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 also supports tenant-shared coin-op laundry.
The two second-floor residential units have separate utilities and legal egress. Kitchen and laundry equipment in the residential units is landlord owned, including 2 stoves, 2 refrigerators, a coin-op washer/dryer, and a scullery sink unit. The building has low-maintenance vinyl siding and provides water and sewer service. Off-street parking is available, and the building is secured.
Roof work was completed in 2016, and the building was constructed in 1900.
The two second-floor residential units have separate utilities and legal egress. Kitchen and laundry equipment in the residential units is landlord owned, including 2 stoves, 2 refrigerators, a coin-op washer/dryer, and a scullery sink unit. The building has low-maintenance vinyl siding and provides water and sewer service. Off-street parking is available, and the building is secured.
Roof work was completed in 2016, and the building was constructed in 1900.
Key Highlights
- Two commercial units: 3‑room office suite plus food window service
- Office lease runs until 6‑30‑27 and includes heat, hot water, and electric
- Food window has metered electric; 3‑bowl scullery system installed in 2018
Financial Insights For Multifamily LT 5
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 | $46.5k | $19.80 |
| − Vacancy | −$1.1k | −$0.49 |
| EGI | $45.3k | $19.31 |
| − OpEx | −$13.6k | −$5.79 |
| NOI | $31.7k | $13.52 |
2,347 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Office B
$611.1K
$534.7K – $712.9K
NOI $42,774 @ 7.0% cap · market cap 10.70%
Second Best
Multifamily LT 5
$453.2K
$396.6K – $528.8K
NOI $31,726 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$801.5K
$701.3K – $935.1K
NOI $56,103 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
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
Properties on Market for Mixed-use properties in Worcester County
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial rental units on the first floor and two residential apartments on the second floor, with secured access and off-street parking.
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 $399,900.
What are key features of this property?
This property features: Two commercial units: 3‑room office suite plus food window service; Office lease runs until 6‑30‑27 and includes heat, hot water, and electric; Food window has metered electric; 3‑bowl scullery system installed in 2018
