Modern Office
111 Silver Lake Blvd, Pittsfield, MA 01201
For Sale
$1,700,000
Two-tenant office property with private rooms and collaborative areas under IG zoning.
Property Size6,709 SF
Price / SF$253.39
Days on Market101
Property Features for 111 Silver Lake Blvd
General Information
Standard status
Size
Class
Property subtype
Building Details
Building Size
Year Built
Units
Tenancy
Listing Agency:
Jennings Real Estate Services
Listed By:
Kevin Jennings · License MA #9039162
(413) 265-1219
Source:
Commercialcafe
Added: Aug 2
Changed: Nov 8
Last Checked: Nov 10 at 5:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jennings Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2012, this 6,709-square-foot office building combines enclosed offices with larger shared areas for a flexible professional layout. The property is occupied by a bank and an insurance company, providing an established two-user configuration within a contemporary building design.
The property is located at 111 Silver Lake Boulevard in Pittsfield, Massachusetts, beside the Berkshire Innovation Center. It is subject to a land lease with the Pittsfield Economic Development Association and carries IG zoning.
The property is located at 111 Silver Lake Boulevard in Pittsfield, Massachusetts, beside the Berkshire Innovation Center. It is subject to a land lease with the Pittsfield Economic Development Association and carries IG zoning.
Key Highlights
- 6,709‑square‑foot office building constructed in 2012
- Currently occupied by a bank and an insurance company
- Combination of private offices and larger shared work areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,121
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,082,420
$2.1M
Cap Rate 7%
$1,487,443
$1.5M
Cap Rate 9%
$1,156,900
$1.2M
Market Conditions
NOI Build-Up for 6,709 SF
Gross rent
$144.9K $21.60/SF
− Vacancy
−$6.1K −$0.91/SF
EGI
$138.8K $20.69/SF
− OpEx
−$34.7K −$5.17/SF
NOI
$104.1K $15.52/SF
Area
Berkshire County, MA
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,082,420
Cap Rate 7%
$1,487,443
Cap Rate 9%
$1,156,900
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,121 @ 7.0% cap · market cap 6.12%
Second Best
Office B
$1.25M
$1.09M – $1.46M
NOI $87,383 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,508 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Two-tenant office property with private rooms and collaborative areas under IG zoning.
Where is this office building located?
The property is located at 111 Silver Lake Blvd Pittsfield, MA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,709‑square‑foot office building constructed in 2012; Currently occupied by a bank and an insurance company; Combination of private offices and larger shared work areas
