Flex Space with Four-Bay
New
For Sale
$499,000
326 Springside Ave, Pittsfield, MA 01201
Corner-site property combines finished office space, lower-level capacity, dedicated parking, and flexible B-G zoning.
Property Size2,367 SF
Price / SF$210.82
Days on Market6
Property Features for 326 Springside Ave
General Information
Standard status
Active
Size
2,367 SF
Building Details
Year Built
1950
Listing Agency:
SKYTOP ASSET MANAGEMENT
(413) 450-1366
Listed By:
Cole Ungar
(413) 450-1366
Source:
Lockandkeyre
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 19 at 7:47AM
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 SKYTOP ASSET MANAGEMENT
Investment Insights
Based on property information with market context.
Built in 1950, this flex property includes 2,367 SF of finished first-floor office space together with a full lower level. A detached ±960 SF garage provides four drive-in bays, adding substantial on-site storage and service capacity. The improvements also include a new roof and standby generator.
The property occupies a corner parcel at 326 Springside Avenue in Pittsfield, Massachusetts, with 10 parking spaces. Flexible B-G zoning supports a range of commercial configurations, while the combination of office improvements and a detached garage accommodates users requiring both professional workspace and vehicle or equipment access.
The property occupies a corner parcel at 326 Springside Avenue in Pittsfield, Massachusetts, with 10 parking spaces. Flexible B-G zoning supports a range of commercial configurations, while the combination of office improvements and a detached garage accommodates users requiring both professional workspace and vehicle or equipment access.
Key Highlights
- 2,367 SF of finished first‑floor office space plus a full lower level
- Detached ±960 SF garage with four bays
- 10 parking spaces on a corner parcel
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
$37,110
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
7.44%
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%
$742,200
$742.2K
Cap Rate 7%
$530,143
$530.1K
Cap Rate 9%
$412,333
$412.3K
Market Conditions
NOI Build-Up for 2,367 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
$71.0K $30.00/SF
− Vacancy
−$13.9K −$5.88/SF
EGI
$57.1K $24.12/SF
− OpEx
−$20.0K −$8.44/SF
NOI
$37.1K $15.68/SF
Area
Berkshire County, MA
Vacancy
19.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
35.00%
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%
$742,200
Cap Rate 7%
$530,143
Cap Rate 9%
$412,333
Alternative Uses
Best Use
Flex RnD
$530.1K
$463.9K – $618.5K
NOI $37,110 @ 7.0% cap · market cap 7.44%
Second Best
Office B
$440.4K
$385.4K – $513.8K
NOI $30,830 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$693.1K
$606.4K – $808.6K
NOI $48,514 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-site property combines finished office space, lower-level capacity, dedicated parking, and flexible B-G zoning.
Where is this flex space located?
The property is located at 326 Springside Ave Pittsfield, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,367 SF of finished first‑floor office space plus a full lower level; Detached ±960 SF garage with four bays; 10 parking spaces on a corner parcel
