185 Main St, Spencer MA 01562
Spencer, MA 01562
$1,200,000
Est. $6,774/month
Estimate assumptions
20% down, a 30-year loan at 6.5%, and $200/month estimated insurance.
Includes the supplied property-tax and HOA inputs; missing inputs contribute $0. HOA fees with an unspecified frequency are treated as monthly. PMI and closing costs are excluded.
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About this home
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.
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Property History
Property Timeline
Listed for Sale
Sep 21, 2026
$1,200,000
Original listing
Agent: Donna Flannery
Office: ERA Key Realty Services- Spenc
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/21/2026 | 🏠 Listed for Sale | $1,200,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $6,071 | — |
Financial Details
Annual Property Tax
$6,071
Tax Year 2026
Facts & Features
Home Facts
Type
Commercial Sale
Year Built
1890
Living Area
9,934 sq ft
Lot Size
0.82 acres
Investment Metrics
Gross Income
$153,296
Operating Expenses
$56,240
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
None
Architecture
None
Roof
None
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
None
Water
None
Sewer
None
Gas
None
Other
Public Water, Public Sewer, Natural Gas Available
Financial
Annual Tax
$6,071
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
Seller Is Doing Roof Work On The Back Portion(facing The Driveway) And Bringing The Smoke Alarms To Todays Code.interior Square Footage Is Not Exact Because Of The Mix Of Office And Apartment Space.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Documents
None
County
Worcester
Property Overview
Listing Type
For Sale
Year Built
1890
Living Area
9,934 sq ft
Floor Layout
Interactive room guide
Floor Layout
Display Options
Room Markers
OOffice (1)
KKitchen (1)
BRBedroom (5)
BABathroom (4)
DDining (1)
LLiving (2)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1890
Structure Type:
Exterior Materials:
Roof:
Foundation:
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Spencer-East Brookfield School District local
F
Elementary Schools
3 schools
C-
Wire Village School
1.3 mi
|
#668 of 825
|
Score: 37.5
Improved 5 spots from last year
-20.7 below state avg
461 students
Diverse
Grades K-04
C-
East Brookfield Elementary School
2.6 mi
|
#725 of 825
|
Score: 33.9
Dropped 262 spots from last year
-24.3 below state avg
254 students
Moderate
Strong Attendance
Grades PK-06
Mad Brook Academy
3.7 mi
Grades PK
Middle Schools
2 schools
D
Knox Trail Middle School
0.5 mi
|
#327 of 352
|
Score: 28.7
Dropped 50 spots from last year
-29.5 below state avg
407 students
Diverse
Grades 05-08
C+
Leicester Middle School
4.4 mi
|
#226 of 352
|
Score: 38.6
Improved 5 spots from last year
-19.6 below state avg
401 students
Diverse
Grades 05-08
High Schools
3 schools
C
David Prouty High School
0.7 mi
|
#253 of 346
|
Score: 47.0
Dropped 8 spots from last year
-11.2 below state avg
321 students
Moderate
13 sports
• 482 athletes
Strong AP Program
Career Tech Programs
College Ready Curriculum
Grades 09-12
B
Leicester High School
4.5 mi
|
#163 of 346
|
Score: 54.7
Dropped 3 spots from last year
-3.5 below state avg
409 students
Diverse
14 sports
• 674 athletes
Strong AP Program
High Graduation Rate
Career Tech Programs
College Ready Curriculum
Grades 09-12
C-
North Brookfield High School
5.0 mi
|
#295 of 346
|
Score: 40.7
Improved 8 spots from last year
-17.5 below state avg
161 students
Moderate
College Ready Curriculum
Grades 06-12
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Monthly Payment Calculator
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Loan Amount
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After down payment
Total Interest
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Over life of loan
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Including down payment
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Down: $0
%
Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$506
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
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Total principal paid
$0
Total interest paid
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Rate Impact
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Current Rate
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+0.5% Rate
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
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Neighborhood
185 Main St, Spencer MA 01562
Spencer, MA 01562
Listing Information
Listing Agent
Donna Flannery
Listing Office
ERA Key Realty Services- Spenc
Office Phone
508-885-6336
Agent MLS ID
K0003035
Office MLS ID
K95257
Listing Data Updated
Sep 21, 2026 3:29 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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