Listing Agency: Denny Nolan Real Estate

Listed By: Denny R. Nolan Show Phone

Source: Exprealty

Added: Jun 2 Changed: Sep 2 Last Checked: Sep 1 at 11:16PM

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Investment Insights

Based on property information with market context.

This two-unit duplex contains 2,288 square feet and uses all-electric systems. Each unit has separate electric service, allowing the residences to be metered independently. The building sits back from the road on an approximately 3.3-acre wooded parcel.

Located at 151 Pantry Rd in West Hatfield, Massachusetts, the property is just over the Northampton line and offers immediate highway access. No leases are currently in place.

Key Highlights

• 2,288‑square‑foot duplex with two units
• Approximately 3.3 wooded acres
• Separate electric service for each unit

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

$33,052

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

7.19%

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%

$661,040 $661.0K

Cap Rate 7%

$472,171 $472.2K

Cap Rate 9%

$367,244 $367.2K

Market Conditions

NOI Build-Up for 2,288 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

$49.4K $21.60/SF

− Vacancy

−$2.2K −$0.96/SF

EGI

$47.2K $20.64/SF

− OpEx

−$14.2K −$6.19/SF

NOI

$33.1K $14.45/SF

Area

Hampshire County, MA

Vacancy

4.46%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

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%

$661,040

Cap Rate 7%

$472,171

Cap Rate 9%

$367,244

Alternative Uses

Best Use

Multifamily LT 5

$472.2K

$413.2K – $550.9K (±1% cap)

NOI $33,052 @ 7.0% cap · market cap 7.19%

Second Best

Apartment 5plus

$431.7K

$377.8K – $503.7K (±1% cap)

NOI $30,221 @ 7.0% cap · market cap 6.57%

Theoretical Best

Office A

$1.39M

$1.22M – $1.63M (±1% cap)

NOI $97,535 @ 7.0% cap · market cap 21.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Real Estate Agency Auto Repair Shop Law Firm (Bike/Boat/Book/etc) Store Catering Service

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

Lease Details

2

Residential units

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

28

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Separate electric service, a quiet setback, and immediate highway access support the two-unit property.

Where is this duplex located?

The property is located at 151 Pantry Rd West Hatfield, MA.

What is the asking price?

The asking price for this property is $459,900.

What are key features of this property?

This property features: 2,288‑square‑foot duplex with two units; Approximately 3.3 wooded acres; Separate electric service for each unit