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    Established Restaurant and Mixed-Use Property Title is generated by Realmo AI

    181 W State Street, Granby, MA 01033

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    For Sale
    $799,000

    Turn-key restaurant and mixed-use property on high-traffic Route 202.

    Type:Commercial
    Property size:
    1 SF
    Price / SF:
    $799,000/SF
    Added:
    Dec 26, 2024
    Days on Market:
    513
    Last Refresh:
    May 21 at 6:26 am

    Property Features for 181 W State Street

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Elizabeth Salois Team

    Listing agent Elizabeth Salois Team

    Listing office Berkshire Hathaway HomeServices Realty Professionals

    Listing date Dec 26, 2024

    Source Brickandmortar

    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 Berkshire Hathaway HomeServices Realty Professionals

    HighLights

    • High‑traffic location on RT 202 in Granby, surrounded by residential and commercial properties.
    • Turn‑key business and real estate opportunity with established breakfast and lunch destination.
    • Mixed‑use building with potential for expansion of the existing business.
    • Includes a second‑floor apartment and detached studio‑style unit for living or rental income.
    • Features cozy indoor seating by the fireplace and a fenced‑in outdoor patio.
    • Existing ice cream window provides additional revenue potential.

    Overview

    This mixed-use property is situated on high-traffic Route 202 in Granby, surrounded by residential homes and businesses, and located a short distance from highways and colleges. The property currently houses an established breakfast and lunch destination. The building offers opportunities for expanding the existing business, living in or renting out the second-floor apartment, and utilizing a detached studio-style unit. Potential revenue streams include expanding business hours and offerings, utilizing the existing ice cream window, offering baked goods, and providing long or short-term rentals for the residential units. The existing pick-up catering business could be expanded to offer off-site catering. The restaurant features seating inside by the fireplace and outside in a fenced-in patio. This is a turn-key business and real estate opportunity.
    Location Intelligence

    Current Use by Public Records

    Willow Wind Labradors Pet Store Bitter Day Herbals (Bike/Boat/Book/etc) Store Something Special Café ... Take-out & Catering

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Auto Parts Store Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Granby
    County
    Hampshire
    State
    Massachusetts
    Longitude
    -72.5271564
    Latitude
    42.2547395

    Nearby Similar for Sale

    • $875,000

      Established Restaurant and Mixed-Use Property

      Turn-key restaurant with residential units on high-traffic Route 202.
      181 W State Street, Granby, MA 01033
      View Details
    • $875,000
      4,315 SF

      Restaurant-Anchored Mixed-Use Investment Opportunity

      Mixed-use property with restaurant, apartment, and studio on 1.87 acres.
      181 W State Street, Granby, MA 01033
      View Details
    • $798,000
      2,100 SF

      Granby Horse Property with Barn

      Modern colonial on 1.5 acres with horse facilities.
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    • $875,000
      4,315 SF

      Turn-Key Restaurant and Real Estate

      Established restaurant with living space and rental income potential.
      181 West State Street, Granby, MA, Granby, MA 01033
      View Details

    FAQs

    What type of property is this?
    Breakfast & diner - Turn-key restaurant and mixed-use property on high-traffic Route 202.
    Where is this breakfast & diner located?
    The property is located at 181 W State Street Granby, MA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: High‑traffic location on RT 202 in Granby, surrounded by residential and commercial properties.; Turn‑key business and real estate opportunity with established breakfast and lunch destination.; Mixed‑use building with potential for expansion of the existing business.
    We can help!
    Listing Contact
    Elizabeth Salois Team
    Learn More
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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.

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