181 West State Street Granby, Granby, MA 01033

Building Details

Year Built 1900 More

Year Renovated 2019 More

Buildings 2 More

Stories 3 More

Units 3 More

Tenancy Multi More

Listing Agency: Berkshire Hathaway HomeServices Realty Professionals

Listed By: Elizabeth Salois · License MA #9559467

Source: Crexi

Added: Mar 18, 2024 Changed: Aug 8 Last Checked: Aug 8 at 2:43PM

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Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use property, situated in a bustling area on RT 202 in Granby, MA, presents a turn-key business and real estate opportunity. The location benefits from a mix of residential homes and businesses, with convenient access to highways and colleges. Currently operating as a breakfast and lunch destination, the property offers potential for expanding the existing business. The second floor provides options for living or rental income, complemented by an additional detached short-term rental or studio apartment. The restaurant features cozy seating both inside, near a fireplace, and outside on a fenced-in patio. The property's location and layout support various business expansions, such as offering dinner service, utilizing the existing ice cream window, providing baked goods, or expanding the current pick-up catering business to include off-site catering. The property size is 4315 square feet.

Key Highlights

• Established turn‑key business with real estate included.
• Prime location on RT 202 in a bustling area near residential homes, businesses, highways, and colleges.
• Mixed‑use building with potential for expansion, including a second‑floor apartment (live‑in or rental) and a detached short‑term rental/studio apartment.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,359

Cap Rate

4.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$827,180 $827.2K

Cap Rate 7%

$590,843 $590.8K

Cap Rate 9%

$459,544 $459.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,315 SF

Gross rent

$73.5K $17.04/SF

− Vacancy

−$7.4K −$1.70/SF

EGI

$66.2K $15.34/SF

− OpEx

−$24.8K −$5.75/SF

NOI

$41.4K $9.59/SF

Area

Hampshire County, MA

Vacancy

10.00%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$827,180

Cap Rate 7%

$590,843

Cap Rate 9%

$459,544

Alternative Uses

Best Use

Specialty Retail

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $94,952 @ 7.0% cap · market cap 10.85%

Second Best

Mixed Use

$590.8K

$517.0K – $689.3K (±1% cap)

NOI $41,359 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $183,943 @ 7.0% cap · market cap 21.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

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

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Parts Store Pharmacy Law Firm Plumbing 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.

Location Intelligence

Trade Area within ½ mile

121

Businesses Nearby

7k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

7,101 visits/mo 0.0 miles

Demographics for 01033, MA

6,092

Population

2,768

Households

2.2

Avg Household Size

47

Median Age

37%

College-Educated

94%

High-School Grad

27.8 sq mi

ZIP Area

219

Density / Sq Mi

$110,188

Median Household Income

$65,625

Median Earnings

$319,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Breakfast & diner - Established restaurant with living space and rental income potential.

Where is this breakfast & diner located?

The property is located at 181 West State Street Granby Granby, MA.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Established turn‑key business with real estate included.; Prime location on RT 202 in a bustling area near residential homes, businesses, highways, and colleges.; Mixed‑use building with potential for expansion, including a second‑floor apartment (live‑in or rental) and a detached short‑term rental/studio apartment.