Convenience Store with Residential
For Sale
$1,199,900
7 Prospect St, Woburn, MA 01801
Mixed-use property combines a storefront currently operated as a convenience store with five residential units and parking for 12.
Property Size4,314 SF
Price / SF$278.14
Days on Market186
Property Features for 7 Prospect St
General Information
Standard status
Active
Size
4,314 SF
Total Parking Spaces
11
Property subtype
Multi-Family
Zoning
B-D
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Building Size
4,314 SF
Year Built
1900
Stories
3
Listing Agency:
Paul Conti Real Estate
Listed By:
Paul A. Conti · License #448501080
(781) 272-2070
Source:
Cjbarrett
Added: Apr 20
Changed: Oct 1
Last Checked: Sep 30 at 12:48PM
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 Paul Conti Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes a storefront currently used as a convenience store and five residential units. The residential component consists of four one-bedroom units and one two-bedroom unit. In total, the building has six bedrooms and seven baths, along with parking for twelve. Public remarks indicate the business is conveyed with the property at no additional cost.
The property is located close to the bus line and near shops and restaurants in Woburn Center. A floor plan is available, and the listing notes that tours are available as well.
The property is located close to the bus line and near shops and restaurants in Woburn Center. A floor plan is available, and the listing notes that tours are available as well.
Key Highlights
- Mixed‑use building with a storefront currently operated as a convenience store plus 5 residential units.
- Residential unit mix: four 1‑bedroom units and one 2‑bedroom unit.
- Total layout includes 6 bedrooms and 7 baths across the residential units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,834
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,716,680
$1.7M
Cap Rate 7%
$1,226,200
$1.2M
Cap Rate 9%
$953,711
$953.7K
Market Conditions
NOI Build-Up for 4,314 SF
Gross rent
$164.6K $38.16/SF
− Vacancy
−$8.6K −$1.98/SF
EGI
$156.1K $36.18/SF
− OpEx
−$70.2K −$16.28/SF
NOI
$85.8K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,716,680
Cap Rate 7%
$1,226,200
Cap Rate 9%
$953,711
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,834 @ 7.0% cap · market cap 7.15%
Second Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,807 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,771 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Mixed-use property combines a storefront currently operated as a convenience store with five residential units and parking for 12.
Where is this grocery and convenience store located?
The property is located at 7 Prospect St Woburn, MA.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Mixed‑use building with a storefront currently operated as a convenience store plus 5 residential units.; Residential unit mix: four 1‑bedroom units and one 2‑bedroom unit.; Total layout includes 6 bedrooms and 7 baths across the residential units.
