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 Market140
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
Source:
Cjbarrett
Added: Apr 20
Changed: Sep 6
Last Checked: Aug 14 at 7:40AM
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
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 = 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
$85,834
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
7.15%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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.
