Retail Center on South
For Sale
$3,568,000
163 South St, Pittsfield, MA 01201
Multi-tenant retail center in Pittsfield, MA for sale.
Property Size13,760 SF
Price / SF$259.30
Days on Market336
Property Features for 163 South St
General Information
Standard status
Active
Size
13,760 SF
Property subtype
Retail
Building Details
Building Size
13,760 SF
Year Built
1993
Listing Agency:
(978) 476-1223
Listed By:
Mitchell Jacoby, MCR
(978) 476-1223
Source:
Lee-associates
Added: Sep 10, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:40AM
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 Mitchell Jacoby, MCR
Investment Insights
Based on property information with market context.
This multi-tenant retail center, situated on 0.89 acres, offers approximately 13,760 square feet of space. The property is located on South Street in Pittsfield, Massachusetts, at the intersection of Route 20, and is approximately 0.25 miles from Route 9 (East Street). Current tenants include O'Reilly Auto Parts, Berkshire Medicine, and Bottomless Bricks.
Key Highlights
- Multi‑tenant retail center providing immediate income stream.
- Located on South Street at the intersection of Rte. 20, a high‑traffic area.
- Includes established tenants: O'Reilly Auto Parts, Berkshire Medicine, and Bottomless Bricks.
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
$166,094
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
4.66%
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%
$3,321,880
$3.3M
Cap Rate 7%
$2,372,771
$2.4M
Cap Rate 9%
$1,845,489
$1.8M
Market Conditions
NOI Build-Up for 13,760 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
$247.7K $18.00/SF
− Vacancy
−$10.4K −$0.76/SF
EGI
$237.3K $17.24/SF
− OpEx
−$71.2K −$5.17/SF
NOI
$166.1K $12.07/SF
Area
Berkshire County, MA
Vacancy
4.20%
Lease Rate
$18.00 /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%
$3,321,880
Cap Rate 7%
$2,372,771
Cap Rate 9%
$1,845,489
Alternative Uses
Best Use
Retail
$2.37M
$2.08M – $2.77M
NOI $166,094 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,025 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
83k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 42%
Shops & Services 11%
Big Y World Class Market
Groceries
34,829 visits/mo
0.3 miles
Burger King
Dining
17,254 visits/mo
0.3 miles
Dunkin' Donuts
Dining
16,594 visits/mo
0.4 miles
Berkshire Bank
Shops & Services
6,157 visits/mo
0.4 miles
SUBWAY
Dining
2,415 visits/mo
0.1 miles
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center in Pittsfield, MA for sale.
Where is this shopping center located?
The property is located at 163 South St Pittsfield, MA.
What is the asking price?
The asking price for this property is $3,568,000.
What are key features of this property?
This property features: Multi‑tenant retail center providing immediate income stream.; Located on South Street at the intersection of Rte. 20, a high‑traffic area.; Includes established tenants: O'Reilly Auto Parts, Berkshire Medicine, and Bottomless Bricks.
