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    Whately Agricultural Land with Greenhouses Title is generated by Realmo AI

    212 Long Plain Rd, Whately, MA 01373

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    26.7 acres with greenhouses and solar array in Whately.

    Type:Land
    Property size:
    94,861 SF
    Lot size:
    26.70 Acres
    Price / SF:
    $9/SF
    Added:
    Jun 27, 2024
    Days on Market:
    709
    Last Refresh:
    May 12 at 9:44 pm

    Property Features for 212 Long Plain Rd

    General Information

    Standard status
    Active
    Size
    94,861 SF
    Lot size
    26.70 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Jeremy Casey

    Listing agent Jeremy Casey License #9585695

    Listing office SR Commercial Realty

    Listing date Jun 27, 2024

    Source Crexi

    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 SR Commercial Realty

    HighLights

    • Approximately 26.7 acres of agricultural land with 94,861 SF of heated greenhouse facilities.
    • Greenhouses built from 2013‑2016 with Westbrook Apex ridge vented design and 21’ bays.
    • Large solar array generating approximately 130 megawatt hours annually.
    • Frontage on two roads: 550 ft on Long Plain Road and 472 ft on Christian Lane.
    • Three electric services including 3‑phase, 208 volt, 2000 amp, 3‑phase, 208 volt, 600 amp and 200 amp service to the packing barn.
    • Proximity to Interstate 91 for easy access and excellent connectivity.

    Overview

    Located in Whately, MA, the property at 212 & 216 Long Plain Road features approximately 26.7 acres of agricultural land. It has 550 feet of frontage on Long Plain Road and 472 feet of frontage on Christian Lane. The property consists of two abutting tax parcels and includes 94,861 square feet of heated greenhouse facilities. Constructed between 2013 and 2016, the greenhouses feature a Westbrook Apex ridge vented design with 21-foot bays. A large solar array on the property generates approximately 130 megawatt hours annually. Public water is accessible along both roads. The property is equipped with three electric services: a 3-phase, 208 volt, 2000 amp service; a 3-phase, 208 volt, 600 amp service; and a 200 amp service to the packing barn. The location offers convenient access and connectivity due to its proximity to Interstate 91. This property presents a chance to acquire a sizable, well-equipped farm suitable for various agricultural operations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alt. Energy / Solar ...

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Big Box & Wholesale Store Nail Salon Department Store Food Market Tech Support Center Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Whately
    County
    Franklin
    State
    Massachusetts
    Longitude
    -72.600737
    Latitude
    42.4438903

    Nearby Similar for Sale

    • $4,950,000
      160,000 SF

      Certified Organic Greenhouse Space

      160,000+ SF of certified organic heated greenhouse space.
      62 Christian Ln, Whately, MA 01373
      View Details
    • $1,400,000
      8,300 SF

      Retail Property on Busy Corner

      8,300 SF retail property fully leased to cannabis retailer.
      424 State Rd, Whately, MA
      View Details
    • $945,000

      Land For Sale

      Land available for sale in Whately, Massachusetts.
      212 Long Plain Rd, Whately, MA
      View Details

    FAQs

    What type of property is this?
    Farm - 26.7 acres with greenhouses and solar array in Whately.
    Where is this farm located?
    The property is located at 212 Long Plain Rd Whately, MA.
    What is the asking price?
    The asking price for this property is $945,000.
    What are key features of this property?
    This property features: Approximately 26.7 acres of agricultural land with **94,861 SF of heated greenhouse facilities.**; Greenhouses built from 2013‑2016 with Westbrook Apex ridge vented design and 21’ bays.; **Large solar array generating approximately 130 megawatt hours annually.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeremy Casey
    Real Estate License ID: 9585695
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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