Turnkey Convenience Package
For Sale
$315,000
524 Union St, North Adams, MA 01247
Convenience/package store turnkey sale with transferable lottery and beer/wine licenses.
Property Size1,224 SF
Price / SF$257.35
Days on Market100
Property Features for 524 Union St
General Information
Standard status
Active
Size
1,224 SF
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$2,863
Building Details
Building Size
1,224 SF
Year Built
1930
Stories
1
Listing Agency:
360BERKSHIRE REALTY GROUP
Listed By:
CJ Hazell
Source:
413realestate
Added: May 29
Changed: Sep 3
Last Checked: Sep 5 at 4:06AM
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 360BERKSHIRE REALTY GROUP
Investment Insights
Based on property information with market context.
Turnkey convenience/package store offering a complete operating setup, including fixtures and furniture. The sale includes license-related items noted as transferable, including a lottery license and beer and wine license.
The property is located on Route 2 at the intersection of “5 corners,” per the provided remarks. The owner requests that all showings be scheduled through the listing agent, with 48 hours notice.
As presented, the real estate availability and included licenses are part of the offering, supporting a ready-to-operate transition for a qualified buyer.
The property is located on Route 2 at the intersection of “5 corners,” per the provided remarks. The owner requests that all showings be scheduled through the listing agent, with 48 hours notice.
As presented, the real estate availability and included licenses are part of the offering, supporting a ready-to-operate transition for a qualified buyer.
Key Highlights
- Convenience/package store turnkey sale
- Lottery license transferable
- Beer & wine license included
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
$18,996
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
6.03%
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%
$379,920
$379.9K
Cap Rate 7%
$271,371
$271.4K
Cap Rate 9%
$211,067
$211.1K
Market Conditions
NOI Build-Up for 1,224 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
$26.4K $21.60/SF
− Vacancy
−$1.1K −$0.91/SF
EGI
$25.3K $20.69/SF
− OpEx
−$6.3K −$5.17/SF
NOI
$19.0K $15.52/SF
Area
Berkshire County, MA
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$379,920
Cap Rate 7%
$271,371
Cap Rate 9%
$211,067
Alternative Uses
Best Use
Specialty Retail
$271.4K
$237.5K – $316.6K
NOI $18,996 @ 7.0% cap · market cap 6.03%
Second Best
Retail
$211.1K
$184.7K – $246.3K
NOI $14,775 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$358.4K
$313.6K – $418.1K
NOI $25,087 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
12,062 visits/mo
0.1 miles
Demographics for 01247, MA
15,147
Population
7,859
Households
1.9
Avg Household Size
44
Median Age
27%
College-Educated
90%
High-School Grad
45.9 sq mi
ZIP Area
330
Density / Sq Mi
$55,544
Median Household Income
$38,145
Median Earnings
$786
Median Rent
$190,600
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?
Grocery and convenience store - Convenience/package store turnkey sale with transferable lottery and beer/wine licenses.
Where is this grocery and convenience store located?
The property is located at 524 Union St North Adams, MA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Convenience/package store turnkey sale; Lottery license transferable; Beer & wine license included
