Mixed-Use Building with Retail and
For Sale
$759,900
99-101 E Main St, Milford, MA 01757
Property features three retail storefronts, including one vacant unit, plus three second-floor one-bedroom apartments.
Property Size6,400 SF
Lot Size0.12 Acres
Price / SF$118.73
Days on Market138
Property Features for 99-101 E Main St
General Information
Standard status
Active
Size
6,400 SF
Lot size
0.12 Acres
Zoning
CB
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,892
Amenities
heated warehouse
high ceilings
garage door access
additional office space
Building Details
Year Built
1906
Listing Agency:
HomeSmart Professionals Real Estate
Listed By:
Michael Alves · License #REB.0014141
(401) 333-4900
Source:
413realestate
Added: Jun 5
Changed: Oct 19
Last Checked: Oct 20 at 5:57PM
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 HomeSmart Professionals Real Estate
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Investment Insights
Based on property information with market context.
This well-maintained mixed-use property includes three retail storefronts, with one storefront currently vacant for immediate occupancy. The second floor provides three spacious one-bedroom apartments, and there is also long-term tenancy across two units.
The building additionally features a heated warehouse area with high ceilings and garage door access, along with extra office space. Positioned downtown on busy Route 16 in Milford, the property offers strong visibility and easy access to Interstate 495.
Overall, the layout combines street-level retail income with residential units on the upper level and flexible back-of-house warehouse and office space.
The building additionally features a heated warehouse area with high ceilings and garage door access, along with extra office space. Positioned downtown on busy Route 16 in Milford, the property offers strong visibility and easy access to Interstate 495.
Overall, the layout combines street-level retail income with residential units on the upper level and flexible back-of-house warehouse and office space.
Key Highlights
- 6,400 SF mixed‑use building with 3 retail storefronts plus three second‑floor 1‑bedroom apartments
- Route 16 frontage with 3 retail units, including 1 vacant storefront for immediate occupancy
- Long‑term tenant occupying 2 retail units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,720
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,400
$1.2M
Cap Rate 7%
$824,571
$824.6K
Cap Rate 9%
$641,333
$641.3K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$99.8K $15.60/SF
− Vacancy
−$7.5K −$1.17/SF
EGI
$92.4K $14.43/SF
− OpEx
−$34.6K −$5.41/SF
NOI
$57.7K $9.02/SF
Area
Worcester County, MA
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,400
Cap Rate 7%
$824,571
Cap Rate 9%
$641,333
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.58M
NOI $94,639 @ 7.0% cap · market cap 12.45%
Second Best
Multifamily LT 5
$1.24M
$1.08M – $1.44M
NOI $86,513 @ 7.0% cap · market cap 11.38%
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $152,986 @ 7.0% cap · market cap 20.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 01757, MA
30,479
Population
11,833
Households
2.6
Avg Household Size
40
Median Age
34%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
2,018
Density / Sq Mi
$92,951
Median Household Income
$47,975
Median Earnings
$1,702
Median Rent
$444,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Property features three retail storefronts, including one vacant unit, plus three second-floor one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 99-101 E Main St Milford, MA.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: 6,400 SF mixed‑use building with 3 retail storefronts plus three second‑floor 1‑bedroom apartments; Route 16 frontage with 3 retail units, including 1 vacant storefront for immediate occupancy; Long‑term tenant occupying 2 retail units
