Mixed-Use Property with Pedestrian
For Sale
$1,990,000
244 Main St, Northampton, MA 01060
Two-building downtown property with redevelopment plans for residential units, café space, and a wellness-oriented commercial use.
Property Size16,980 SF
Price / SF$117.20
Days on Market58
Property Features for 244 Main St
General Information
Standard status
Active
Size
16,980 SF
Total Parking Spaces
22
Elevators
Yes
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$32,019
Amenities
steel pedestrian bridge
Building Details
Building Size
16,980 SF
Year Built
1850
Buildings
2
Listing Agency:
Brick & Mortar Northampton
Listed By:
Shelly Hardy · License #452508731
(413) 320-3821
Source:
Classifiedrealtygroup
Added: Jul 10
Changed: Sep 4
Last Checked: Sep 4 at 3:20AM
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.
Built in 1850, this two-building mixed-use property encompasses approximately 16,980 square feet and includes an elevator, 22 on-site parking spaces, and an existing steel pedestrian bridge connecting the Roundhouse to Main Street. The property is zoned CB and includes architectural plans for conversion into seven residential units alongside two commercial spaces.
The proposed residential layout includes five units in the Annex and two in the Roundhouse, primarily configured as two-bedroom, two-bath residences, with one two-level townhouse-style unit. Planned commercial components include a café with mezzanine space and a lower-level wellness gym or spa with multiple means of egress.
The property is situated in downtown Northampton near shops, dining, a bike path, Amtrak service to New York City and Boston, and I-91. It is also located within an Opportunity Zone and may qualify for CPA and historic tax credit programs.
The proposed residential layout includes five units in the Annex and two in the Roundhouse, primarily configured as two-bedroom, two-bath residences, with one two-level townhouse-style unit. Planned commercial components include a café with mezzanine space and a lower-level wellness gym or spa with multiple means of egress.
The property is situated in downtown Northampton near shops, dining, a bike path, Amtrak service to New York City and Boston, and I-91. It is also located within an Opportunity Zone and may qualify for CPA and historic tax credit programs.
Key Highlights
- Approximately 16,980 SF across two buildings
- Seven planned residential units: five in the Annex and two in the Roundhouse
- Two planned commercial spaces for a café and wellness gym or spa
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
$162,753
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
8.18%
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%
$3,255,060
$3.3M
Cap Rate 7%
$2,325,043
$2.3M
Cap Rate 9%
$1,808,367
$1.8M
Market Conditions
NOI Build-Up for 16,980 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
$289.3K $17.04/SF
− Vacancy
−$28.9K −$1.70/SF
EGI
$260.4K $15.34/SF
− OpEx
−$97.7K −$5.75/SF
NOI
$162.8K $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 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%
$3,255,060
Cap Rate 7%
$2,325,043
Cap Rate 9%
$1,808,367
Alternative Uses
Best Use
Specialty Retail
$5.34M
$4.67M – $6.23M
NOI $373,645 @ 7.0% cap · market cap 18.78%
Second Best
Mixed Use
$2.33M
$2.03M – $2.71M
NOI $162,753 @ 7.0% cap · market cap 8.18%
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 01060, MA
14,461
Population
7,875
Households
1.8
Avg Household Size
42
Median Age
69%
College-Educated
95%
High-School Grad
10.9 sq mi
ZIP Area
1,327
Density / Sq Mi
$75,077
Median Household Income
$49,151
Median Earnings
$1,460
Median Rent
$427,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building downtown property with redevelopment plans for residential units, café space, and a wellness-oriented commercial use.
Where is this mixed-use property located?
The property is located at 244 Main St 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: Approximately 16,980 SF across two buildings; Seven planned residential units: five in the Annex and two in the Roundhouse; Two planned commercial spaces for a café and wellness gym or spa
