1500 N Main St 2,998 SF 100% Leased Office Building Palmer, MA 01069 For Sale

Located in the heart of downtown Palmer, this historic mixed-use property presents a unique opportunity to acquire an income-producing asset with established tenants, multiple revenue streams, and significant future potential.
The property currently generates approximately $5,000+ per month in gross rental income from a combination of commercial and residential tenants. Existing occupancy includes retail space, professional offices, a two-bedroom apartment, basement commercial space, and leased parking spaces, providing diversified income and reducing dependence on any single tenant.
The first floor consists of retail and office space with excellent visibility along Main Street. The upper level features multiple office suites and a spacious residential apartment. Additional income is generated from a lower-level commercial tenant and parking agreements with neighboring businesses. Several office spaces are currently rented below prevailing market rates, creating a value-add opportunity for investors seeking to increase revenue over time.
Beyond its current configuration, the building offers remarkable flexibility. Investors may choose to continue operating the property as a mixed-use asset, while owner-users can occupy a portion of the building and offset expenses through rental income. Subject to local approvals, the property may also lend itself to alternative uses including expanded commercial operations, additional residential units, creative studio space, boutique retail, professional services, or a live-work environment.
Rich in historic character, the building features original woodwork, pocket doors, French doors, oversized windows, and architectural details rarely found in modern construction. These distinctive features create an attractive environment for tenants, customers, and future occupants alike.
Palmer's strategic location at the crossroads of several major routes provides convenient access to Springfield, Worcester, and the Massachusetts Turnpike. The town has experienced renewed interest from investors and business owners due in part to ongoing discussions surrounding passenger rail service and continued downtown revitalization efforts.
Whether you are seeking stable cash flow, a value-add investment, a location for your own business, or a property with long-term redevelopment potential, this versatile mixed-use building offers immediate income and numerous paths for future growth.