Freestanding Mixed-Use
New
For Sale
$1,599,000
61 Pleasant St, Woburn, MA 01801
Vacant property combines professional office space, a one-bedroom residence, parking, and additional unfinished areas.
Property Size3,905 SF
Price / SF$410
Days on Market2
Property Features for 61 Pleasant St
General Information
Standard status
Active
Size
3,905 SF
Total Parking Spaces
10
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR (1,216 SF)
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$20
Building Details
Building Size
3,905 SF
Year Built
1970
Buildings
1
Listing Agency:
(860) 751-2621
Listed By:
Sree Devireddy
(860) 751-2621
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:00AM
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 Sree Devireddy
Investment Insights
Based on property information with market context.
This freestanding mixed-use property at 61 Pleasant St includes approximately 3,900 SF of finished space and will be delivered vacant. The commercial portion has a professional and medical-style configuration, while the residential component is an approximately 1,216 SF one-bedroom unit with its own entrance, kitchen, dining area, and living/family room. The building was constructed in 1970 and includes 10 on-site parking spaces.
Additional unfinished areas include approximately 2,684 SF in the basement and approximately 1,216 SF in the attic. Future office, residential, or other permitted uses may be considered subject to zoning, permitting, and municipal approvals. The property is near Woburn District Court, City Hall, Woburn Public Library, and Woburn Common, with restaurants, shops, banks, and professional services nearby. Access to I-93 and I-95/Route 128 is also noted, along with MBTA connections at Winchester Center and Anderson/Woburn.
Additional unfinished areas include approximately 2,684 SF in the basement and approximately 1,216 SF in the attic. Future office, residential, or other permitted uses may be considered subject to zoning, permitting, and municipal approvals. The property is near Woburn District Court, City Hall, Woburn Public Library, and Woburn Common, with restaurants, shops, banks, and professional services nearby. Access to I-93 and I-95/Route 128 is also noted, along with MBTA connections at Winchester Center and Anderson/Woburn.
Key Highlights
- Approximately 3,900 SF of finished space in a freestanding mixed‑use building
- 10 on‑site parking spaces
- Approximately 1,216 SF one‑bedroom residential unit with private entrance
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
$123,749
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
7.74%
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%
$2,474,980
$2.5M
Cap Rate 7%
$1,767,843
$1.8M
Cap Rate 9%
$1,374,989
$1.4M
Market Conditions
NOI Build-Up for 3,900 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
$211.5K $54.24/SF
− Vacancy
−$46.5K −$11.93/SF
EGI
$165.0K $42.31/SF
− OpEx
−$41.2K −$10.58/SF
NOI
$123.7K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$2,474,980
Cap Rate 7%
$1,767,843
Cap Rate 9%
$1,374,989
Alternative Uses
Best Use
Office B
$1.77M
$1.55M – $2.06M
NOI $123,749 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$1.62M
$1.42M – $1.89M
NOI $113,205 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,615 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 01801, MA
40,891
Population
16,982
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
94%
High-School Grad
12.7 sq mi
ZIP Area
3,220
Density / Sq Mi
$107,754
Median Household Income
$60,637
Median Earnings
$2,190
Median Rent
$641,800
Median Home Value
Market
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 - Vacant property combines professional office space, a one-bedroom residence, parking, and additional unfinished areas.
Where is this mixed-use property located?
The property is located at 61 Pleasant St Woburn, MA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Approximately 3,900 SF of finished space in a freestanding mixed‑use building; 10 on‑site parking spaces; Approximately 1,216 SF one‑bedroom residential unit with private entrance
