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Bean Group
Offered at $1,200,000Active
beds
8
baths
12
sq ft
9,122
Built
1890

185 Main St

Spencer, MA 01562

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.

Listing last checked: Listing updated:

Listed by Donna Flannery · ERA Key Realty Services- Spenc · MLS #73589863

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Details at a glance

Interior4 property facts
Rooms
35
Heating
Natural Gas, Electric
Flooring
Varies
Basement
Yes · Full, Concrete
Building5 property facts
Style
5+ Family - 5+ Units Up/Down
Year built
1890
Parking
25
Foundation
Stone
Roof
Shingle
Land & utilities5 property facts
Lot size
0.82 acres
Water
Public
Sewer
Public Sewer
Pool
Not reported
Zoning
VR
Financial2 property facts
Annual taxes
$6,071
Assessment year
2026

Location

Estimated monthly cost

Explore costs at the $1,200,000 asking price. Adjust the assumptions to your situation.

Known monthly costs$6,574 / monthAdjust
Principal & interest
$6,068
Property tax
$506
Insurance
Not entered
HOA
Not entered

Listing annual taxes: $6,071. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.

Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.

The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.

Price and status timeline

  1. New

    $1,200,000 · Sep 21, 2026

More property insights

Automated value estimate $1,157,876

Estimated range $950,610–$1,365,143.

Automated estimates are not appraisals or guarantees of market value.

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Photo-based condition insights

Overall presentation: average

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About 185 Main St

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Request a tour of 185 Main St and a Bean Group agent will help coordinate an available time with the listing side.

Can you help me evaluate this property?

Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.

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