Building Details

Year Built 1987

Listing Agency: SR Commercial Realty

Listed By: Jeremy Casey · License #9585695 Show Phone

Source: Lockandkeyre

Added: Oct 15 Changed: Oct 19 Last Checked: Oct 19 at 2:44PM

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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 SR Commercial Realty

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Investment Insights

Based on property information with market context.

This retail suite offers 2,000 SF of open-plan space with updated lighting, fresh paint, and luxury vinyl tile flooring. Storefront windows bring natural light into the interior, and the suite includes a private restroom. The building dates to 1987, and the space has been renovated.

Surface parking is available for businesses and visitors at 2 Main Street in Wales, Massachusetts. The open layout can accommodate different commercial configurations, subject to applicable approvals.

Key Highlights

• 2,000 SF retail suite with an open floor plan
• Renovated interior with luxury vinyl tile flooring, updated lighting, and fresh paint
• Storefront windows provide natural light

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,861

Suggested Prices Based on Cap Rates

Cap Rate 5%

$657,220 $657.2K

Cap Rate 7%

$469,443 $469.4K

Cap Rate 9%

$365,122 $365.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$48.0K $24.00/SF

− Vacancy

−$1.1K −$0.53/SF

EGI

$46.9K $23.47/SF

− OpEx

−$14.1K −$7.04/SF

NOI

$32.9K $16.43/SF

Area

Hampden County, MA

Vacancy

2.20%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$657,220

Cap Rate 7%

$469,443

Cap Rate 9%

$365,122

Alternative Uses

Best Use

Retail

$469.4K

$410.8K – $547.7K (±1% cap)

NOI $32,861 @ 7.0% cap · market cap 1,643.05%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,285 @ 7.0% cap · market cap 4,314.25%

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

Property Analytics

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Open Analytics

Current Use

Lake George Tavern Restaurant Choice Foods Grocery & Convenience Store ATM Machine at CHOICE ... Atm

Suggested Use

Top Pick Big Box & Wholesale Store Plumbing Service Restaurant Grocery & Convenience Store Food Market Auto Repair Shop

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

34

Businesses Nearby

Explore this area Business Placement

Demographics for 01081, MA

1,684

Population

831

Households

2

Avg Household Size

45

Median Age

27%

College-Educated

91%

High-School Grad

14.5 sq mi

ZIP Area

116

Density / Sq Mi

$87,337

Median Household Income

$54,637

Median Earnings

$1,263

Median Rent

$275,400

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?

Retail space - An open-plan interior, storefront windows, and a private restroom support a range of commercial configurations.

Where is this retail space located?

The property is located at 2 Main St Wales, MA.

What are key features of this property?

This property features: 2,000 SF retail suite with an open floor plan; Renovated interior with luxury vinyl tile flooring, updated lighting, and fresh paint; Storefront windows provide natural light