Building Details

Building Size 508 SF

Year Built 1999

Tenancy Multi

Listing Agency: Delap Real Estate LLC Show Phone

Listed By: Patricia Patenaude · License #449000791 Show Phone

Source: Churchillprop

Added: Sep 1 Changed: Oct 6 Last Checked: Oct 19 at 3:57AM

Report an Issue

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 Delap Real Estate LLC

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 508-square-foot medical office consists of a single room on the second floor of Hadley Health Center. The building was completed in 1999 and includes a common waiting room available for use by occupants.

The property is located at 234 Russell Street, #202, in Hadley, Massachusetts. Cooley Dickinson Hospital anchors the building, which also contains several smaller office spaces on the second floor. Utilities are included in the offering.

Key Highlights

• 508‑square‑foot single‑room medical office
• Located on the second floor of Hadley Health Center
• Common waiting room available for occupant use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,948

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,960 $319.0K

Cap Rate 7%

$227,829 $227.8K

Cap Rate 9%

$177,200 $177.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 508 SF

Gross rent

$26.1K $51.36/SF

− Vacancy

−$4.8K −$9.50/SF

EGI

$21.3K $41.86/SF

− OpEx

−$5.3K −$10.46/SF

NOI

$15.9K $31.39/SF

Area

Hampshire County, MA

Vacancy

18.50%

Lease Rate

$51.36 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,960

Cap Rate 7%

$227,829

Cap Rate 9%

$177,200

Alternative Uses

Best Use

Healthcare Medical

$246.9K

$216.1K – $288.1K (±1% cap)

NOI $17,285 @ 7.0% cap · market cap 1,167.91%

Second Best

Office B

$227.8K

$199.4K – $265.8K (±1% cap)

NOI $15,948 @ 7.0% cap · market cap 1,077.57%

Theoretical Best

Office A

$309.4K

$270.7K – $360.9K (±1% cap)

NOI $21,655 @ 7.0% cap · market cap 1,463.18%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick HVAC Service Auto Repair Shop Real Estate Agency Hair Salon Big Box & Wholesale Store (Bike/Boat/Book/etc) Store

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

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

309

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 01035, MA

5,325

Population

2,293

Households

2.3

Avg Household Size

47

Median Age

63%

College-Educated

97%

High-School Grad

23.1 sq mi

ZIP Area

231

Density / Sq Mi

$117,580

Median Household Income

$64,118

Median Earnings

$1,682

Median Rent

$453,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar For Sale Nearby

See more

Turnkey Office Park with Residential Unit

245 Russell St, Hadley, MA 01035

$3,300,000

14,650 SF

View details

Versatile Retail/Office Building Hadley

10 South Maple Street, Hadley, MA 01035

Contact for pricing

17,125 SF

View details

Six-Suite Professional Office Building

190 Russell Street, Hadley, MA 01035

Contact for pricing

View details

Prime Retail Opportunity on RT 9

227 Russell St, Hadley, MA 01035

$2,199,000

1,300 SF

View details

Two-Unit Duplex with Farmland Views

98 Stockbridge St, Hadley, MA

$649,000

2,272 SF

View details

Newly Built Bank with NNN Lease

375 Russell Street, Hadley, MA 97355

Contact for pricing

2,964 SF

View details

Three-Story Office Building

100 Venture Way, Hadley, MA 27292

Contact for pricing

55,936 SF

View details

Similar Off Market Nearby

• Valley Veterinary Hospital — 320 Russell St, Hadley, MA 01035

Frequently Asked Questions

What type of property is this?

Medical Office Space - Second-floor office space with shared waiting-room access and utilities included.

Where is this medical office space located?

The property is located at 234 Russell Street # 202 Hadley, MA.

What are key features of this property?

This property features: 508‑square‑foot single‑room medical office; Located on the second floor of Hadley Health Center; Common waiting room available for occupant use