Renovated Mixed-Use
724 Main St, Winchester, MA 01890
For Sale
$4,000,000
A four-level layout combines private offices, meeting rooms, open work areas and on-site parking.
Property Size7,010 SF
Price / SF$570.61
Days on Market48
Property Features for 724 Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Stories
Building Size
Listing Agency:
Compass
(413) 333-7776
Listed By:
Kim Covino & Co. Team
(781) 219-0313
Source:
Ma-cthomes
Added: Sep 24
Changed: Nov 3
Last Checked: Nov 10 at 7:15AM
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 Compass
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Investment Insights
Based on property information with market context.
Renovated in a building dating to 1880, this mixed-use property contains approximately 7,010 square feet across four levels. Its layout includes private offices, conference and meeting rooms, open work areas, and multiple restrooms. The property also has 19 parking spaces and a garage with direct access, along with views of Wedge pond.
The property is near Winchester Center, with a bus line outside the building and access to the commuter rail. Schools, restaurants, coffee shops, retail, banks, and downtown amenities are also nearby. Mixed-use zoning allows for consideration of residential redevelopment.
The property is near Winchester Center, with a bus line outside the building and access to the commuter rail. Schools, restaurants, coffee shops, retail, banks, and downtown amenities are also nearby. Mixed-use zoning allows for consideration of residential redevelopment.
Key Highlights
- Approximately 7,010 square feet across four levels
- 19 parking spaces and a direct‑access garage
- Office layout includes private rooms, meeting areas, open work areas and multiple restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$222,430
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,448,600
$4.4M
Cap Rate 7%
$3,177,571
$3.2M
Cap Rate 9%
$2,471,444
$2.5M
Market Conditions
NOI Build-Up for 7,010 SF
Gross rent
$380.2K $54.24/SF
− Vacancy
−$83.6K −$11.93/SF
EGI
$296.6K $42.31/SF
− OpEx
−$74.1K −$10.58/SF
NOI
$222.4K $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 Rate 5%
$4,448,600
Cap Rate 7%
$3,177,571
Cap Rate 9%
$2,471,444
Alternative Uses
Best Use
Office B
$3.18M
$2.78M – $3.71M
NOI $222,430 @ 7.0% cap · market cap 5.56%
Second Best
Mixed Use
$1.65M
$1.45M – $1.93M
NOI $115,665 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,493 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
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Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Middlesex County, MA
Properties on Market for Mixed-use properties in Middlesex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-level layout combines private offices, meeting rooms, open work areas and on-site parking.
Where is this mixed-use property located?
The property is located at 724 Main St Winchester, MA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Approximately 7,010 square feet across four levels; 19 parking spaces and a direct‑access garage; Office layout includes private rooms, meeting areas, open work areas and multiple restrooms
