Historic Greenfield Property with
151 Smead Hill Rd, Greenfield, MA 01301
For Sale
$699,000
Historic property in Greenfield with multi-use enterprise potential.
Property Size8,744 SF
Lot Size5.44 Acres
Days on Market245
Property Features for 151 Smead Hill Rd
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
SR Commercial Realty
Listed By:
Zaisha Robert
(413) 557-4846
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 SR Commercial Realty
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Investment Insights
Based on property information with market context.
Located at 151 Smead Hill Rd in Greenfield, this historic property presents a unique opportunity for a visionary entrepreneur. Previously a sought-after wedding venue, the property is situated in a Rural Residential zone and offers flexible, adaptable spaces suitable for various ventures, including a boutique bed and breakfast, an innovative event venue, or a seasonal retreat. The zoning permits open space cluster development, allowing for creative reconfiguration that concentrates development while preserving expansive, natural communal areas. This zoning could potentially facilitate the development of modern co-housing or shared amenity communities, all within a setting of timeless rural charm. The property holds hidden potential for a multi-use enterprise.
Key Highlights
- Flexible, adaptable spaces suitable for a boutique bed and breakfast, event venue, or seasonal retreat.
- Zoning permits open space cluster development, allowing for creative reconfiguration.
- Potential for modern co‑housing or shared amenity communities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,956
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,059,120
$1.1M
Cap Rate 7%
$756,514
$756.5K
Cap Rate 9%
$588,400
$588.4K
Market Conditions
NOI Build-Up for 8,744 SF
Gross rent
$131.2K $15.00/SF
− Vacancy
−$19.7K −$2.25/SF
EGI
$111.5K $12.75/SF
− OpEx
−$58.5K −$6.69/SF
NOI
$53.0K $6.06/SF
Area
Franklin County, MA
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,059,120
Cap Rate 7%
$756,514
Cap Rate 9%
$588,400
Alternative Uses
Best Use
Hotel Hospitality
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.63M
$3.17M – $4.23M
NOI $253,812 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
Demographics for 01301, MA
18,042
Population
8,761
Households
2.1
Avg Household Size
45
Median Age
38%
College-Educated
92%
High-School Grad
25.3 sq mi
ZIP Area
713
Density / Sq Mi
$54,347
Median Household Income
$37,630
Median Earnings
$1,098
Median Rent
$253,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Wedding venue - Historic property in Greenfield with multi-use enterprise potential.
Where is this wedding venue located?
The property is located at 151 Smead Hill Rd Greenfield, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Flexible, adaptable spaces suitable for a boutique bed and breakfast, event venue, or seasonal retreat.; Zoning permits open space cluster development, allowing for creative reconfiguration.; Potential for modern co‑housing or shared amenity communities.
