Description
First time on the market! Rare opportunity to own a historic mixed-use property in a central Spencer location with 17 rental units and multiple income-producing uses. The property includes 7 residential 1- and 2-bedroom apartments and 10 commercial office spaces, offering a diverse tenant mix.Current gross annual income is $153,296 with reported annual expenses of $56,240. The 3-story building, originally established circa 1890, offers approximately 9,934 square feet of combined residential and office space and retains charming historic details throughout.The property sits on approximately 0.82 acres with 25+ off-street parking spaces and additional land that may offer potential for expanded parking and/or additional buildings, subject to town approvals. Public water and sewer, natural gas, paved parking, and legal-conforming mixed-use zoning add to the property's functionality.Located near downtown and adjacent to beautiful Isaac Prouty Veterans Park, with easy access to public transportation, shopping, restaurants, and other amenities. Conveniently situated less than 15 minutes from Worcester Regional Airport, the Mass Pike, and major routes.A unique opportunity to acquire a well-located mixed-use property with established rental income, a diversified unit mix, ample parking, and potential for future growth.
Details
| MLS # | 73589863 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1890 |
| Days On Site | 18 |
| Listing Provided By | ERA Key Realty Services- Spenc | Donna Flannery |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 12 Total |
| SQ Feet | 9,122 |
| Basement | Y |
| Story(s) | 5 |
| Units | 17 |
| Zoning | VR |
| Acreage | 0.82 |
| Water Front | Yes |
Interior
| Rooms Total | 35 |
|---|---|
| Heating Yes / No | Yes |
| Heating | Natural Gas, Electric |
| Window Features | Screens |
| Fireplaces Total | 0 |
| Fireplace Yes / No | No |
| Flooring | Varies |
Exterior
| Exterior Features | Varies per Unit |
|---|---|
| Roof | Shingle |
| Foundation Details | Stone |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Paved Drive, Off Street |
| Open Parking Yes / No | Yes |
Utilities
| Utilities | Varies per Unit |
|---|---|
| Sewer | Public Sewer |
| Electric | Circuit Breakers |
Taxes
| Tax Annual Amount | 6071 |
|---|---|
| Tax Assessed Value | 552950 |
| Tax Year | 2026 |
Location
| Community Features | Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Conservation Area, Highway Access, House of Worship, Public School |
|---|---|
| Senior Community Yes / No | No |
Area Information
| State | MA |
|---|---|
| County | Worcester |
| City | Spencer |
| Zip Code | 01562 |
| Area | Worcester |
| Listing VS Median (in 01562) | |
Price: $1,200,000 low | high Med: $444,950 sqft: 9,122 low | high Med: 1,450 $ / sqft: $132 low | high Med: $307 On site: 18 low | high Med: 50 | |
Market Activity 01562
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Learn More About This Property
| State | MA |
|---|---|
| County | Worcester |
| City | Spencer |
| Zip Code | 01562 |
| Area | Worcester |
| Listing VS Median (in 01562) | |
Price: $1,200,000 low | high Med: $444,950 sqft: 9,122 low | high Med: 1,450 $ / sqft: $132 low | high Med: $307 On site: 18 low | high Med: 50 | |
 | $1,200,000185 Main StSpencer, MA 01562 |