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    437 West Main St Ext Clarksburg, MA 01247

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    For Sale
    $399,000

    Turn-key restaurant with transferable liquor license in North Adams.

    Lot size:
    0.22 Acres

    Property Features for 437 West Main St Ext

    General Information

    Lot size
    0.22 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Jonathan Minerick
    Source: Elliman

    Listing Agent: Jonathan Minerick

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic West End Market Opportunity

    This free-standing, one-story commercial building, known as the historic West End Market, is located on West Main Street (Route 2) in North Adams. The building features Art Deco character and offers approximately 2,020 square feet on the main level, plus a 2,020-square-foot dry basement with office and storage, totaling 4,040 square feet. The roof was replaced in 2023, and structural and mechanical upgrades have been completed. All major systems are in excellent working order. The property includes restaurant equipment and a transferable liquor license, offering a turn-key setup. The zoning is R-2 Residential, with the current restaurant use permitted by special permit. The layout offers flexibility for other possible commercial or residential uses, subject to city approval.
    Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clarksburg
    County
    Berkshire
    State
    Massachusetts
    Longitude
    -73.091878
    Latitude
    42.698512

    Nearby Similar for Sale

    • $250,000
      2,664 SF

      Rented Triplex in North Adams

      Fully rented triplex near shops, restaurants, and cultural attractions.
      86 W Main St Ext, Clarksburg, MA 01247
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Turn-key restaurant with transferable liquor license in North Adams.
    Where is this turn key restaurant located?
    The property is located at 437 West Main St Ext Clarksburg, MA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Turn-key restaurant opportunity with transferable liquor license and included equipment.; - Updated systems and structural/mechanical upgrades completed, including a new roof in 2023.; - Generous space: Approximately 4,040 sq ft total, with a 2,020 sq ft main level and a 2,020 sq ft basement.
    (888) 400-2513
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    437 West Main St Ext Clarksburg, MA 01247
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    Clarksburg, MA 01247
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    437 West Main St Ext Clarksburg, MA 01247
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    We can help!
    Listing Contact
    Jonathan Minerick
    Real Estate License ID: 5014919
    (888) 400-2513
    Learn more
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