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Active

185 Main St, Spencer MA 01562

$1,200,000

Estimated $2,452/month Calculator

Multi Family

Total Units: 17

Price Per Unit: $70,588.24

Total Rent: 48780/year

Estimated CAP Rate:

8 Bedrooms

Baths

9122

Total Parking: 25

35,790 (0.82)

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.

This home has been viewed 4 times

Last Checked: October 26th, 2026 at 7:58am (Source: MLS PIN #73589863)

Gross Income: $48,780

Gross Expenses: $56,054

Net Income Calc: $7,274

Water Views

Annual Expenses for 185 Main St, Spencer MA 01562

Total Gross Expenses (Calculated)$56,054/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax6071

Annual Income & Unit Breakdown for 185 Main St, Spencer MA 01562

Total Gross Income (Calculated)$48,780

Unit 1

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

General Information for 185 Main St, Spencer MA 01562

Listing ID73589863

Property TypeMulti Family

Price1200000 ($131.55/SqFt)

Style5+ Family - 5+ Units Up/down

CitySpencer

CountyWorcester

Neighborhood(s)

Approximate Living Area Total9122

Approximate Lot Size (Acres)0.82

Total Parking25

Garage Parking0

Year Built1890

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction Materials

Lot Features

Foundation Area2363

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningVR

Water ViewsNo

Water Views Features

Waterfront0

Waterfront FeaturesRiver

Terms

Disclosures for 185 Main St, Spencer MA 01562

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsAll Tenant Possessions

Financial Data Source

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 185 Main St, Spencer MA 01562

Real Estate Taxes6071

Tax Year2026

Assessed Value$552,950

Financial Data Source

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 185 Main St, Spencer MA 01562

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 185 Main St, Spencer MA 01562

Agent

Name: Donna Flannery

Office

Name: ERA Key Realty Services- Spenc

Phone: 508-885-6336

Payment Calculator

, Interest

Property Taxes 505.92

Principal & Interest 7394.02

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

ERA Key Realty Services- Spenc

Donna Flannery

Agent Phone

Office Phone

(508) 885-6336

Text Agent Call Agent Call Office

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EXIT

23 More Photos

Active

185 Main St, Spencer MA 01562

$1,200,000

Annual Expenses for 185 Main St, Spencer MA 01562

Annual Income & Unit Breakdown for 185 Main St, Spencer MA 01562

General Information for 185 Main St, Spencer MA 01562

Disclosures for 185 Main St, Spencer MA 01562

Financial Information for 185 Main St, Spencer MA 01562

Location Information for 185 Main St, Spencer MA 01562

Contact Information for 185 Main St, Spencer MA 01562

Agent

Office

Payment Calculator

Exclusive Listing Agent

ERA Key Realty Services- Spenc

Donna Flannery