338 Main St Southbridge, MA 01550
Estimated payment $11,750/month
Highlights
- Golf Course Community
- City View
- Park
- Medical Services
- Property is near public transit
- Shops
About This Home
Prime downtown mixed-use investment property with an 8% cap rate ideal for investors seeking long term stability. Zoned Center Core in a designated Opportunity Zone offering both capital gain & historic tax credits. Exceptionally maintained, including a new roof and furnace. The first floor includes two commercial spaces: a new 10-year lease to a convenience store & an available 539 SF vanilla box with half bath. 13 fully occupied market-rate residential units on floors 2 & 3 provide steady income. Adjacent to a free municipal parking lot. Walking distance to CVS, Cumberland Farms, restaurants, Harrington Hospital, churches, parks, city hall, the post office, fire station & library, as well as the WRTA bus stop, with free fare to amenities through the entire greater Worcester region. Southbridge supports a stable tenant base with ~18K residents & a median income of ~$34K. Located minutes from I90 & I84, it offers easy access to Boston & NYC. Don’t miss this exceptional opportunity!
Listing Agent
JOHN SNYDER
Redfin Corp. Listed on: 07/17/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,844
Year Built
- Built in 1907
Lot Details
- 5,663 Sq Ft Lot
Parking
- 50 Car Parking Spaces
Home Design
- Brick Exterior Construction
- Brick Foundation
- Rubber Roof
Interior Spaces
- 9,216 Sq Ft Home
- Property has 1 Level
- City Views
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 14 Bedrooms
Location
- Property is near public transit
- Property is near schools
Utilities
- Central Heating
- Heating System Uses Natural Gas
- 220 Volts
Listing and Financial Details
- Rent includes unit 1(heat gas)
- Assessor Parcel Number M:0035 B:0036 L:00001,3977864
Community Details
Overview
- 15 Units
Amenities
- Medical Services
- Shops
- Coin Laundry
Recreation
- Golf Course Community
- Park
Building Details
- Electric Expense $17,796
- Insurance Expense $13,600
- Water Sewer Expense $4,063
- Operating Expense $79,844
- Net Operating Income $156,471
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $10,844 | $739,700 | $56,900 | $682,800 |
| 2024 | $6,560 | $429,900 | $54,200 | $375,700 |
| 2023 | $6,160 | $388,900 | $54,200 | $334,700 |
| 2022 | $6,396 | $357,300 | $49,900 | $307,400 |
| 2021 | $6,946 | $357,300 | $49,900 | $307,400 |
| 2020 | $6,960 | $357,300 | $49,900 | $307,400 |
| 2018 | $6,798 | $327,600 | $47,500 | $280,100 |
| 2017 | $6,739 | $327,600 | $47,500 | $280,100 |
| 2016 | $6,621 | $327,600 | $47,500 | $280,100 |
| 2015 | $6,112 | $300,200 | $47,500 | $252,700 |
| 2014 | $5,876 | $299,200 | $47,500 | $251,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/17/2025 07/17/25 | For Sale | $1,960,000 | +113.0% | $213 / Sq Ft |
| 05/28/2021 05/28/21 | Sold | $920,000 | -10.2% | $100 / Sq Ft |
| 03/10/2021 03/10/21 | Pending | -- | -- | -- |
| 02/12/2021 02/12/21 | For Sale | $1,025,000 | 0.0% | $111 / Sq Ft |
| 01/30/2021 01/30/21 | Pending | -- | -- | -- |
| 01/21/2021 01/21/21 | For Sale | $1,025,000 | -- | $111 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | $400,000 | -- | |
| Deed | $400,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $720,000 | Purchase Money Mortgage | |
| Previous Owner | $750,000 | Purchase Money Mortgage | |
| Previous Owner | $705,829 | Commercial | |
| Previous Owner | $210,000 | Commercial | |
| Previous Owner | $170,000 | Commercial | |
| Previous Owner | $600,000 | Commercial | |
| Previous Owner | $210,000 | Commercial | |
| Previous Owner | $155,000 | Commercial |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73406319
APN: SBRI-000035-000036-000001
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