Building Details

Year Built 1990

Listing Agency: 5 College REALTORS Northampton Show Phone

Listed By: Julie Starr Show Phone

Source: Fivecollegerealtors

Added: Mar 6 Changed: Aug 29 Last Checked: Aug 30 at 6:03PM

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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 5 College REALTORS Northampton

Investment Insights

Based on property information with market context.

The Curtis House is a mixed-use wedding and events property centered on a Gambrel-style main residence with over 5,100 square feet of living space. The house includes five bedrooms, 4 1/2 baths, commercial and cook's kitchens, cold storage, an office, sewing room, laundry room, four fireplaces, covered porches, an accessory apartment, and outdoor amenities including stone patios, an outdoor shower, and hot tub.

A 2,200-square-foot post-and-beam barn provides a full-service event area with prep kitchen, two bathrooms, dedicated HVAC, bar, patios, fire pit, and an attached Lutton greenhouse. The property encompasses four acres at 14 South Street in Ashfield, Massachusetts. The site has operated as the home of Gloriosa + Co Weddings/Events for over 30 years. Main-house heating uses oil and propane, while the barn has propane and minisplit systems for heating and cooling. Inventory and training may also be available from the seller.

Key Highlights

• Four‑acre mixed‑use wedding and events property at 14 South Street, Ashfield, MA 01330
• 2,200 sf post‑and‑beam barn configured as a full‑service event space
• Main residence offers over 5,100 sf, five bedrooms, and 4 1/2 baths

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$75,555

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.08%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,511,100 $1.5M

Cap Rate 7%

$1,079,357 $1.1M

Cap Rate 9%

$839,500 $839.5K

Market Conditions

NOI Build-Up for 7,300 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$131.4K $18.00/SF

− Vacancy

−$10.5K −$1.44/SF

EGI

$120.9K $16.56/SF

− OpEx

−$45.3K −$6.21/SF

NOI

$75.6K $10.35/SF

Area

Franklin County, MA

Vacancy

8.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,511,100

Cap Rate 7%

$1,079,357

Cap Rate 9%

$839,500

Alternative Uses

Best Use

Mixed Use

$1.08M

$944.4K – $1.26M (±1% cap)

NOI $75,555 @ 7.0% cap · market cap 4.08%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$3.03M

$2.65M – $3.53M (±1% cap)

NOI $211,897 @ 7.0% cap · market cap 11.45%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Gloriosa & Co. Wedding Service

Suggested Use

Top Pick Electrical Service Building Supply Auto Repair Shop Garden Center Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

Explore this area Business Placement

Demographics for 01330, MA

1,500

Population

915

Households

1.6

Avg Household Size

55

Median Age

50%

College-Educated

97%

High-School Grad

34.5 sq mi

ZIP Area

43

Density / Sq Mi

$81,691

Median Household Income

$41,004

Median Earnings

$957

Median Rent

$368,400

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this wedding venues located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Wedding venue - Historic-style estate combines event facilities, residential accommodations, outdoor gathering areas, and a greenhouse on a spacious rural setting.

Where is this wedding venue located?

The property is located at 14 South Street Ashfield, MA.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: Four‑acre mixed‑use wedding and events property at 14 South Street, Ashfield, MA 01330; 2,200 sf post‑and‑beam barn configured as a full‑service event space; Main residence offers over 5,100 sf, five bedrooms, and 4 1/2 baths