Historic Mixed-Use Mill
For Sale
$1,299,000
345-363 Dwight Street, Holyoke, MA 01040
Flexible mill construction offers residential and commercial redevelopment potential with high ceilings, broad floor plates, and substantial window lines.
Property Size10,600 SF
Price / SF$122.55
Days on Market168
Property Features for 345-363 Dwight Street
General Information
Standard status
Active
Size
10,600 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
IG
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,809
Building Details
Building Size
10,600 SF
Year Built
1900
Buildings
1
Stories
4
Construction
mill
Listing Agency:
RSC Global Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 16
Changed: Aug 29
Last Checked: Aug 29 at 2:25PM
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 RSC Global Realty
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property retains classic mill characteristics, including high ceilings, large window lines, and expansive floor plates. The building is positioned for redevelopment that may accommodate loft apartments, creative office space, retail, maker uses, or light industrial activity. The property is zoned IG, providing an industrial framework for evaluating future plans.
The building is located at 345-363 Dwight Street in Holyoke, directly across from the Holyoke Amtrak station and minutes from Interstate 91. Nearby context includes the Open Square redevelopment campus, arts venues, restaurants, and cultural attractions. The stated redevelopment program identifies potential for 55+ rental units and 10 commercial spaces.
The building is located at 345-363 Dwight Street in Holyoke, directly across from the Holyoke Amtrak station and minutes from Interstate 91. Nearby context includes the Open Square redevelopment campus, arts venues, restaurants, and cultural attractions. The stated redevelopment program identifies potential for 55+ rental units and 10 commercial spaces.
Key Highlights
- 1900‑built mill building with high ceilings, large window lines, and expansive floor plates
- IG zoning supports evaluation of industrial and mixed‑use redevelopment plans
- Potential for 55+ rental units and 10 commercial spaces
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
$107,325
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
8.26%
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%
$2,146,500
$2.1M
Cap Rate 7%
$1,533,214
$1.5M
Cap Rate 9%
$1,192,500
$1.2M
Market Conditions
NOI Build-Up for 10,600 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
$190.8K $18.00/SF
− Vacancy
−$19.1K −$1.80/SF
EGI
$171.7K $16.20/SF
− OpEx
−$64.4K −$6.07/SF
NOI
$107.3K $10.13/SF
Area
Hampden County, MA
Vacancy
10.00%
Lease Rate
$18.00 /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%
$2,146,500
Cap Rate 7%
$1,533,214
Cap Rate 9%
$1,192,500
Alternative Uses
Best Use
Flex RnD
$1.95M
$1.70M – $2.27M
NOI $136,174 @ 7.0% cap · market cap 10.48%
Second Best
Apartment 5plus
$1.84M
$1.61M – $2.14M
NOI $128,665 @ 7.0% cap · market cap 9.90%
Theoretical Best
Office A
$6.53M
$5.72M – $7.62M
NOI $457,309 @ 7.0% cap · market cap 35.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible mill construction offers residential and commercial redevelopment potential with high ceilings, broad floor plates, and substantial window lines.
Where is this mixed-use property located?
The property is located at 345-363 Dwight Street Holyoke, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 1900‑built mill building with high ceilings, large window lines, and expansive floor plates; IG zoning supports evaluation of industrial and mixed‑use redevelopment plans; Potential for 55+ rental units and 10 commercial spaces
