Office/Industrial Facility in Downing
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17 Downing Three, Pittsfield, MA 01201
44,640 SF office/industrial facility in Pittsfield's Downing Industrial Park.
Property Size44,640 SF
Price / SF$64.96
Days on Market806
Property Features for 17 Downing Three
General Information
Standard status
Active
Size
44,640 SF
Property subtype
Industrial
Lease Type
NNN
Building Details
Year Built
1986
Tenancy
Single
Listing Agency:
CBRE - Hartford
Listed By:
Jack Reed · License #9551299
(860) 987-4789
Source:
Crexi
Added: Aug 8, 2024
Changed: Oct 10
Last Checked: Oct 20 at 6:59PM
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 CBRE - Hartford
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 17 Downing Three is a well-constructed office and industrial facility, consisting of three connected condominium units with a total area of 44,640 square feet. It is situated within Pittsfield’s Downing Industrial Park, which hosts numerous national tenants. The current tenant is Spectrum Plastics Group, an Atlanta-based company specializing in the design, development, and manufacture of specialty medical plastics products. This location operates as a precision injection molder and includes a 10,000 square foot tool room and a 4,500 square foot Class 8 clean room.
Key Highlights
- 44,640 SF office/industrial facility comprised of three connected condominium units.
- Located in Pittsfield’s Downing Industrial Park, home to many national tenants.
- Current tenant is Spectrum Plastics Group.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,634
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,892,680
$4.9M
Cap Rate 7%
$3,494,771
$3.5M
Cap Rate 9%
$2,718,156
$2.7M
Market Conditions
NOI Build-Up for 44,640 SF
Gross rent
$375.0K $8.40/SF
− Vacancy
−$25.5K −$0.57/SF
EGI
$349.5K $7.83/SF
− OpEx
−$104.8K −$2.35/SF
NOI
$244.6K $5.48/SF
Area
Berkshire County, MA
Vacancy
6.80%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,892,680
Cap Rate 7%
$3,494,771
Cap Rate 9%
$2,718,156
Alternative Uses
Best Use
Industrial
$3.49M
$3.06M – $4.08M
NOI $244,634 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.07M
$11.44M – $15.25M
NOI $914,941 @ 7.0% cap · market cap 31.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 44,640 SF office/industrial facility in Pittsfield's Downing Industrial Park.
Where is this manufacturing property located?
The property is located at 17 Downing Three Pittsfield, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 44,640 SF office/industrial facility comprised of three connected condominium units.; Located in Pittsfield’s Downing Industrial Park, home to many national tenants.; Current tenant is Spectrum Plastics Group.
