Vacant Two-Unit
New
For Sale
$600,000
85 Church, Lenox, MA 01240
Commercial zoning, separate natural gas systems, and furnished kitchens support two independent residential units.
Property Size1,924 SF
Price / SF$311.85
Days on Market6
Property Features for 85 Church
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Multi-family
Zoning
commercial
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
refrigerator
dishwasher
range
mudroom
Building Details
Year Built
1900
Buildings
1
Listing Agency:
WILLIAM PITT SOTHEBY'S - LENOX
Listed By:
Nick Geranios
(413) 458-5000
Source:
Harschrealestate
Added: Sep 9
Changed: Sep 14
Last Checked: Sep 14 at 7:08AM
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
Investment Insights
Based on property information with market context.
Located at 85 Church Street in downtown Lenox, this 1,924-square-foot duplex contains two separate residential units and is delivered vacant. Each unit includes two bedrooms, one bathroom, a refrigerator, dishwasher, range, and its own natural gas heating system. Natural wood details, updated bathrooms, replacement windows, and a second-floor rear landing or mudroom add functional character to the property.
Built in 1900 and zoned commercial, the property offers a two-family configuration with separate mechanical systems and existing kitchen appliances. Its downtown Lenox setting places the building within the village center while preserving the layout of two independent units.
Built in 1900 and zoned commercial, the property offers a two-family configuration with separate mechanical systems and existing kitchen appliances. Its downtown Lenox setting places the building within the village center while preserving the layout of two independent units.
Key Highlights
- Two‑unit duplex with 1,924 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Delivered vacant with commercial zoning
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
$28,704
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
4.78%
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%
$574,080
$574.1K
Cap Rate 7%
$410,057
$410.1K
Cap Rate 9%
$318,933
$318.9K
Market Conditions
NOI Build-Up for 1,924 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
$41.6K $21.60/SF
− Vacancy
−$553 −$0.29/SF
EGI
$41.0K $21.31/SF
− OpEx
−$12.3K −$6.39/SF
NOI
$28.7K $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%
$574,080
Cap Rate 7%
$410,057
Cap Rate 9%
$318,933
Alternative Uses
Best Use
Multifamily LT 5
$410.1K
$358.8K – $478.4K
NOI $28,704 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$375.6K
$328.7K – $438.2K
NOI $26,293 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$563.3K
$492.9K – $657.2K
NOI $39,434 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 01240, MA
4,692
Population
3,029
Households
1.5
Avg Household Size
57
Median Age
52%
College-Educated
95%
High-School Grad
23.9 sq mi
ZIP Area
196
Density / Sq Mi
$99,745
Median Household Income
$43,284
Median Earnings
$1,060
Median Rent
$480,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Commercial zoning, separate natural gas systems, and furnished kitchens support two independent residential units.
Where is this duplex located?
The property is located at 85 Church Lenox, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,924 square feet; Each unit includes 2 bedrooms and 1 bathroom; Delivered vacant with commercial zoning
