Historic Mixed-Use Redevelopment
244 Main Street Northampton, MA 01060
244 Main Street, Northampton, MA, 01060
$1,990,000
For Sale
$1,990,000
Historic two-building property on Main Street with elevator, 22 parking spaces, and plans for condo conversion plus café and gym/spa.
Property Size16,980 SF
Price / SF$117.20
Days on Market446
Property Features for 244 Main Street
General Information
- Standard status
- Active
- Size
- 16,980 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1850
Listing agency
Brick & Mortar Northampton
Listed by
Shelly Hardy
(508) 867-2800
Source
Miketoomeyrealestate
Added: May 2, 2025 Updated: Jul 20 at 7:27PM Checked: Jul 21 at 6:40AM
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 Brick & Mortar Northampton
Investment Insights
Based on property information with market context.
An exceptional historic two-building redevelopment opportunity at 244 Main Street, Northampton, MA. The property consists of approximately 16,980 SF and includes elevator service and architectural plans for a condo conversion. The proposed redesign calls for 7 residential units, including 5 in the Annex and 2 in the Roundhouse, with residential layouts primarily described as 2-bedroom, 2-bath options, including one 2-level, townhouse-style unit. The plans also include 2 commercial spaces: a café with a mezzanine level and a wellness-focused gym/spa planned for the lower level with multiple means of egress.
A steel pedestrian bridge currently connects the Roundhouse directly to Main Street, designed to support walkability and visibility. The property also provides approximately 22 on-site parking spaces.
Additional highlights include the existing configuration for the proposed residential and commercial mix, along with the property being located in an Opportunity Zone, where potential CPA and historic tax credit eligibility is referenced in the materials provided.
A steel pedestrian bridge currently connects the Roundhouse directly to Main Street, designed to support walkability and visibility. The property also provides approximately 22 on-site parking spaces.
Additional highlights include the existing configuration for the proposed residential and commercial mix, along with the property being located in an Opportunity Zone, where potential CPA and historic tax credit eligibility is referenced in the materials provided.
Key Highlights
- Historic two‑building mixed‑use property on Main Street with elevator and approximately 16,980 SF
- Redevelopment plans include 7 residential units (5 in the Annex, 2 in the Roundhouse) plus 2 commercial spaces
- Residential plan features primarily 2‑bedroom, 2‑bath layouts, including a 2‑level townhouse‑style unit
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $289.3k | $17.04 |
| − Vacancy | −$28.9k | −$1.70 |
| EGI | $260.4k | $15.34 |
| − OpEx | −$97.7k | −$5.75 |
| NOI | $162.8k | $9.59 |
16,980 SF · lease $17.04/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$5.34M
$4.67M – $6.23M
NOI $373,645 @ 7.0% cap · market cap 18.78%
Second Best
Apartment 5plus
$3.20M
$2.80M – $3.74M
NOI $224,282 @ 7.0% cap · market cap 11.27%
Theoretical Best
Office A
$10.34M
$9.05M – $12.06M
NOI $723,837 @ 7.0% cap · market cap 36.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Spa & wellness properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Historic two-building property on Main Street with elevator, 22 parking spaces, and plans for condo conversion plus café and gym/spa.
Where is this mixed-use property located?
The property is located at 244 Main Street Northampton, MA.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Historic two‑building mixed‑use property on Main Street with elevator and approximately 16,980 SF; Redevelopment plans include 7 residential units (5 in the Annex, 2 in the Roundhouse) plus 2 commercial spaces; Residential plan features primarily 2‑bedroom, 2‑bath layouts, including a 2‑level townhouse‑style unit
