Mixed-Use Property with
For Sale
Contact for pricing
388 Palmer Rd, Ware, MA 01082
Two-building commercial property combines retail, office, and warehouse space along a commercial corridor.
Property Size2,061 SF
Lot Size2.85 Acres
Price / SF$143.13
Days on Market95
Property Features for 388 Palmer Rd
General Information
Standard status
Active
Size
2,061 SF
Lot size
2.85 Acres
Property subtype
RETAIL
Additional Details
Road Access
Yes
Warehouse Space
861 SF
Building Details
Buildings
2
Listing Agency:
Pioneer CRE
(413) 312-9299
Listed By:
Paul Bongiorni · License #9575704
(413) 459-0570
Source:
Moodyscre
Added: Jul 30
Changed: Oct 25
Last Checked: Oct 30 at 5:51PM
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 Pioneer CRE
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Investment Insights
Based on property information with market context.
This mixed-use property includes two buildings totaling approximately 2,061 square feet on an approximately 2.85-acre parcel. The improvements include an approximately 1,200-square-foot retail/office building and an approximately 861-square-foot warehouse with an overhead door and loading platform.
The property is located on Rt. 32 in Ware near the Palmer town line, approximately 0.25 miles from Gibbs Crossing, a 502,000-square-foot shopping center featuring Wal-Mart and Lowe’s. It is approximately 5.5 miles from the Palmer MA Pike interchange, 2.8 miles from downtown Ware, and near the Ware Mass Central Rail Trail entrance.
The property is located on Rt. 32 in Ware near the Palmer town line, approximately 0.25 miles from Gibbs Crossing, a 502,000-square-foot shopping center featuring Wal-Mart and Lowe’s. It is approximately 5.5 miles from the Palmer MA Pike interchange, 2.8 miles from downtown Ware, and near the Ware Mass Central Rail Trail entrance.
Key Highlights
- Two‑building mixed‑use property totaling approximately 2,061 SF
- Approximately 2.85‑acre parcel on Rt. 32
- Approximately 1,200 SF retail/office building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,863
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,260
$517.3K
Cap Rate 7%
$369,471
$369.5K
Cap Rate 9%
$287,367
$287.4K
Market Conditions
NOI Build-Up for 2,061 SF
Gross rent
$32.9K $15.96/SF
− Vacancy
−$2.5K −$1.20/SF
EGI
$30.4K $14.76/SF
− OpEx
−$4.6K −$2.21/SF
NOI
$25.9K $12.55/SF
Area
Hampshire County, MA
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,260
Cap Rate 7%
$369,471
Cap Rate 9%
$287,367
Alternative Uses
Best Use
Office B
$924.3K
$808.8K – $1.08M
NOI $64,703 @ 7.0% cap · market cap 21.93%
Second Best
Retail
$604.7K
$529.1K – $705.5K
NOI $42,329 @ 7.0% cap · market cap 14.35%
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,858 @ 7.0% cap · market cap 29.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
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Business Placement
Demographics for 01082, MA
10,565
Population
5,021
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
47.0 sq mi
ZIP Area
225
Density / Sq Mi
$71,023
Median Household Income
$49,991
Median Earnings
$1,049
Median Rent
$271,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property combines retail, office, and warehouse space along a commercial corridor.
Where is this mixed-use property located?
The property is located at 388 Palmer Rd Ware, MA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑building mixed‑use property totaling approximately 2,061 SF; Approximately 2.85‑acre parcel on Rt. 32; Approximately 1,200 SF retail/office building
