Mixed-Use Building with
For Sale
$850,000
4 Park Street, Belchertown, MA 01007
Mixed-use property with two lower-level retail/restaurant spaces and two residential apartments upstairs.
Property Size7,364 SF
Lot Size0.22 Acres
Price / SF$115.43
Days on Market132
Property Features for 4 Park Street
General Information
Standard status
Active
Size
7,364 SF
Lot size
0.22 Acres
Property subtype
Multi-Family
Zoning
LB1
Net Operating Income
$31,200
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,506
Building Details
Building Size
7,364 SF
Year Built
1895
Stories
2
Listing Agency:
LPT Realty - Home & Key Group
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 26
Changed: Sep 3
Last Checked: Sep 2 at 3:10PM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
The property is a mixed-use building on approximately 0.22 acres with about 7,364 square feet of total space. Two commercial tenant spaces are located on the lower level, including Belchertown Discount Liquors and a newly renovated restaurant space. Upstairs, the building offers two residential apartments: one with 2 bedrooms and 2 bathrooms, and another with 2 bedrooms and 1 bathroom.
The property is positioned in the center of Belchertown, just off the Town Common, with municipal parking directly across the street. Local restaurants, Town Hall, and other community services are within walking distance.
This configuration supports combined income from street-level commercial use and upstairs residential units, with parking availability nearby via municipal lots across the property.
The property is positioned in the center of Belchertown, just off the Town Common, with municipal parking directly across the street. Local restaurants, Town Hall, and other community services are within walking distance.
This configuration supports combined income from street-level commercial use and upstairs residential units, with parking availability nearby via municipal lots across the property.
Key Highlights
- Mixed‑use property with two commercial tenant spaces on the lower level
- Upstairs features two residential apartments: one 2 bed/2 bath and one 2 bed/1 bath
- Approximately 7,364 SF total space on roughly 0.22 acres
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
$70,584
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
8.30%
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%
$1,411,680
$1.4M
Cap Rate 7%
$1,008,343
$1.0M
Cap Rate 9%
$784,267
$784.3K
Market Conditions
NOI Build-Up for 7,364 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
$125.5K $17.04/SF
− Vacancy
−$12.5K −$1.70/SF
EGI
$112.9K $15.34/SF
− OpEx
−$42.4K −$5.75/SF
NOI
$70.6K $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%
$1,411,680
Cap Rate 7%
$1,008,343
Cap Rate 9%
$784,267
Alternative Uses
Best Use
Specialty Retail
$2.31M
$2.03M – $2.70M
NOI $162,045 @ 7.0% cap · market cap 19.06%
Second Best
Retail
$2.16M
$1.89M – $2.52M
NOI $151,242 @ 7.0% cap · market cap 17.79%
Theoretical Best
Office A
$4.48M
$3.92M – $5.23M
NOI $313,918 @ 7.0% cap · market cap 36.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 100%
LOFT
Apparel
1,124 visits/mo
0.1 miles
Demographics for 01007, MA
15,423
Population
6,569
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
98%
High-School Grad
54.9 sq mi
ZIP Area
281
Density / Sq Mi
$99,056
Median Household Income
$51,822
Median Earnings
$1,301
Median Rent
$350,400
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 - Mixed-use property with two lower-level retail/restaurant spaces and two residential apartments upstairs.
Where is this mixed-use property located?
The property is located at 4 Park Street Belchertown, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Mixed‑use property with two commercial tenant spaces on the lower level; Upstairs features two residential apartments: one 2 bed/2 bath and one 2 bed/1 bath; Approximately 7,364 SF total space on roughly 0.22 acres
