Flex Space with Overhead
45 School St, Lee, MA 01238
For Sale
$295,000
Pending
Includes an office, bathroom, mezzanine, and gas heat.
Property Size1,120 SF
Days on Market105
Property Features for 45 School St
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Building Details
Year Built
Listing Agency:
WILLIAM PITT SOTHEBY'S - LENOX
(413) 637-4402
Listed By:
Richard G. Aldrich · License MA #009536117
(413) 243-1739
Source:
Lockandkeyre
Added: Jul 30
Changed: Nov 5
Last Checked: Oct 19 at 9:42AM
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 WILLIAM PITT SOTHEBY'S - LENOX
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Investment Insights
Based on property information with market context.
This 1,120-square-foot flex space was built in 1996 and combines office and garage functionality in one commercial building. The interior includes one office, a bathroom, an overhead door, and a mezzanine area. Gas heat and upgraded thermal windows are also in place.
The property is located at 45 School St in Lee, Massachusetts, with off-street parking available. Its blend of enclosed work area, office space, overhead access, and mezzanine storage creates a practical layout for commercial operations requiring both workspace and garage capacity.
The property is located at 45 School St in Lee, Massachusetts, with off-street parking available. Its blend of enclosed work area, office space, overhead access, and mezzanine storage creates a practical layout for commercial operations requiring both workspace and garage capacity.
Key Highlights
- 1,120 square feet of flex space
- Built in 1996
- One office, bathroom, overhead door, and mezzanine area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,559
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,180
$351.2K
Cap Rate 7%
$250,843
$250.8K
Cap Rate 9%
$195,100
$195.1K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$33.6K $30.00/SF
− Vacancy
−$6.6K −$5.88/SF
EGI
$27.0K $24.12/SF
− OpEx
−$9.5K −$8.44/SF
NOI
$17.6K $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 Rate 5%
$351,180
Cap Rate 7%
$250,843
Cap Rate 9%
$195,100
Alternative Uses
Best Use
Flex RnD
$250.8K
$219.5K – $292.7K
NOI $17,559 @ 7.0% cap · market cap 5.95%
Second Best
Office B
$208.4K
$182.4K – $243.1K
NOI $14,588 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$327.9K
$287.0K – $382.6K
NOI $22,956 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 01238, MA
5,722
Population
3,069
Households
1.9
Avg Household Size
51
Median Age
46%
College-Educated
99%
High-School Grad
27.6 sq mi
ZIP Area
207
Density / Sq Mi
$74,469
Median Household Income
$47,035
Median Earnings
$1,255
Median Rent
$332,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Includes an office, bathroom, mezzanine, and gas heat.
Where is this flex space located?
The property is located at 45 School St Lee, 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: 1,120 square feet of flex space; Built in 1996; One office, bathroom, overhead door, and mezzanine area
