Renovated Duplex with Commercial
For Sale
$429,000
689 North Main St, Sheffield, MA 01257
Renovated duplex with a main residence and adjoining apartment on a commercially zoned lot.
Property Size2,258 SF
Lot Size0.50 Acres
Days on Market119
Property Features for 689 North Main St
General Information
Standard status
Active
Size
2,258 SF
Lot size
0.50 Acres
Property subtype
MULTI_FAMILY
Additional Details
Asking Price
$429,000
Taxes and HOA fees
Annual Taxes
$3,209
Building Details
Building Size
2,258 SF
Year Built
1957
Listing Agency:
HOUSATONIC REAL ESTATE
Listed By:
Judi Panzano · License #9585682
(203) 209-8769
Source:
Stonehouseproperties
Added: May 21
Changed: Sep 14
Last Checked: Sep 15 at 10:31AM
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 HOUSATONIC REAL ESTATE
Investment Insights
Based on property information with market context.
This renovated duplex pairs a 2,258 sq. ft. three-bedroom ranch residence with a newly completed adjoining apartment. The main home includes a spacious kitchen, full bath, washer/dryer, and garage. The apartment adds a finished kitchen with granite countertops, full bath, washer/dryer, and separate backyard access. A new three-bedroom septic system, roof, backyard fence, and grass complete the recent improvements.
The property occupies a .50-acre commercially zoned lot at 689 North Main St in Sheffield, MA, approximately a 5 minute drive from downtown Great Barrington. Its residential layout and commercial zoning support a range of documented configurations, including live/work use, rental occupancy, extended-family living, short-term rental use, or professional office space.
The property occupies a .50-acre commercially zoned lot at 689 North Main St in Sheffield, MA, approximately a 5 minute drive from downtown Great Barrington. Its residential layout and commercial zoning support a range of documented configurations, including live/work use, rental occupancy, extended-family living, short-term rental use, or professional office space.
Key Highlights
- 2,258 sq. ft. main residence with 3 bedrooms
- New adjoining apartment with kitchen, full bath, washer/dryer, and private backyard access
- .50‑acre commercially zoned lot in Sheffield, MA
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
$33,687
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
7.85%
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%
$673,740
$673.7K
Cap Rate 7%
$481,243
$481.2K
Cap Rate 9%
$374,300
$374.3K
Market Conditions
NOI Build-Up for 2,258 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
$48.8K $21.60/SF
− Vacancy
−$649 −$0.29/SF
EGI
$48.1K $21.31/SF
− OpEx
−$14.4K −$6.39/SF
NOI
$33.7K $14.92/SF
Area
Berkshire County, MA
Vacancy
1.33%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$673,740
Cap Rate 7%
$481,243
Cap Rate 9%
$374,300
Alternative Uses
Best Use
Multifamily LT 5
$481.2K
$421.1K – $561.5K
NOI $33,687 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$440.8K
$385.7K – $514.3K
NOI $30,858 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$661.1K
$578.5K – $771.3K
NOI $46,280 @ 7.0% cap · market cap 10.79%
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
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 01257, MA
2,140
Population
1,238
Households
1.7
Avg Household Size
53
Median Age
41%
College-Educated
100%
High-School Grad
33.9 sq mi
ZIP Area
63
Density / Sq Mi
$80,227
Median Household Income
$40,907
Median Earnings
$1,161
Median Rent
$432,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with a main residence and adjoining apartment on a commercially zoned lot.
Where is this duplex located?
The property is located at 689 North Main St Sheffield, MA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,258 sq. ft. main residence with 3 bedrooms; New adjoining apartment with kitchen, full bath, washer/dryer, and private backyard access; .50‑acre commercially zoned lot in Sheffield, MA
