Building Details

Year Built 2010

Buildings 1

Listing Agency: SR Commercial Realty c***@gmail.com Show Phone

Listed By: Jeremy Casey · License #9585695

Source: Crexi

Added: Apr 10 Changed: Aug 31 Last Checked: Aug 30 at 5:14PM

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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

Investment Insights

Based on property information with market context.

This 15,783-square-foot hospitality property combines a restaurant operation with dedicated wedding and event facilities. The building includes a commercial kitchen equipped with a wood-fired pizza oven, a private bridal suite, indoor and outdoor dining areas, and patio spaces with fireplaces. A full liquor license is also in place.

Set on 1.92 acres, the property provides on-site parking and was constructed in 2010. The venue is located at 219 South Street in Bernardston, Massachusetts, and carries R1 zoning. Its combination of food-service improvements and event-oriented spaces supports a range of hospitality operations within one property.

Key Highlights

• 15,783 SF building on 1.92 acres
• Dedicated wedding and event space with private bridal suite
• Commercial kitchen with wood‑fired pizza oven

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

$97,614

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

3.43%

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%

$1,952,280 $2.0M

Cap Rate 7%

$1,394,486 $1.4M

Cap Rate 9%

$1,084,600 $1.1M

Market Conditions

NOI Build-Up for 15,783 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

$149.6K $9.48/SF

− Vacancy

−$10.2K −$0.64/SF

EGI

$139.4K $8.84/SF

− OpEx

−$41.8K −$2.65/SF

NOI

$97.6K $6.18/SF

Area

Franklin County, MA

Vacancy

6.80%

Lease Rate

$9.48 /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%

$1,952,280

Cap Rate 7%

$1,394,486

Cap Rate 9%

$1,084,600

Alternative Uses

Best Use

Specialty Retail

$5.35M

$4.68M – $6.24M (±1% cap)

NOI $374,223 @ 7.0% cap · market cap 13.13%

Second Best

Industrial

$1.39M

$1.22M – $1.63M (±1% cap)

NOI $97,614 @ 7.0% cap · market cap 3.43%

Theoretical Best

Healthcare Medical

$6.54M

$5.73M – $7.64M (±1% cap)

NOI $458,132 @ 7.0% cap · market cap 16.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Wedding venues

Suggested Use

Top Pick Building Supply HVAC Service Auto Parts Store (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Furniture & Home Goods

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

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Explore this area Business Placement

Demographics for 01337, MA

2,562

Population

1,176

Households

2.2

Avg Household Size

52

Median Age

31%

College-Educated

94%

High-School Grad

37.4 sq mi

ZIP Area

69

Density / Sq Mi

$79,274

Median Household Income

$46,929

Median Earnings

$997

Median Rent

$312,300

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

Questions? Ask Rey

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What type of property is this? Where is this wedding venues located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Wedding venue - Built-out hospitality property includes event space, commercial kitchen, patios, and a private bridal suite.

Where is this wedding venue located?

The property is located at 219 South St Bernardston, MA.

What is the asking price?

The asking price for this property is $2,850,000.

What are key features of this property?

This property features: 15,783 SF building on 1.92 acres; Dedicated wedding and event space with private bridal suite; Commercial kitchen with wood‑fired pizza oven