Versatile Mixed-Use Commercial
For Sale
$675,000
Pending
396 Main St, Agawam, MA 01001
Mixed-use property with axe-throwing venue and income potential.
Property Size5,580 SF
Days on Market140
Property Features for 396 Main St
General Information
Standard status
Pending
Size
5,580 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,435
Building Details
Building Size
5,580 SF
Year Built
1930
Listed By:
Patrick S. Nolan
(413) 786-5047
Source:
Elliman
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 9 at 9:18AM
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 Patrick S. Nolan
Investment Insights
Based on property information with market context.
This commercial property offers a versatile mixed-use layout with income potential. The building, with almost 6000 square feet, is partially built out as an axe-throwing venue. The venue includes dedicated throwing lanes, safety fencing, a reception area, and a seated bar area suitable for events and group bookings. The remaining space provides flexibility for additional commercial use, expansion, or owner occupancy. This property is suited for investors or owner-operators seeking an entertainment, retail, or service-based opportunity. The property offers an adaptable floor plan, existing infrastructure, and potential for continued or alternative use. The property has a bike score of 33, walk score of 35, and transit score of 37.
Key Highlights
- Large 6000 sq ft commercial property with mixed‑use layout.
- Existing axe‑throwing venue with lanes, fencing, reception, and bar.
- Income potential from existing venue and additional space.
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
$60,750
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
9.00%
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%
$1,215,000
$1.2M
Cap Rate 7%
$867,857
$867.9K
Cap Rate 9%
$675,000
$675.0K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$10.8K −$1.80/SF
EGI
$97.2K $16.20/SF
− OpEx
−$36.5K −$6.07/SF
NOI
$60.8K $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%
$1,215,000
Cap Rate 7%
$867,857
Cap Rate 9%
$675,000
Alternative Uses
Best Use
Mixed Use
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.70M
$3.24M – $4.31M
NOI $258,854 @ 7.0% cap · market cap 38.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 01001, MA
16,984
Population
7,033
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
1,503
Density / Sq Mi
$71,924
Median Household Income
$54,266
Median Earnings
$1,305
Median Rent
$270,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with axe-throwing venue and income potential.
Where is this mixed-use property located?
The property is located at 396 Main St Agawam, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Large 6000 sq ft commercial property with mixed‑use layout.; Existing axe‑throwing venue with lanes, fencing, reception, and bar.; Income potential from existing venue and additional space.
