Pittsfield Restaurant and Retail
For Sale
Contact for pricing
Pending
451 Dalton Ave, Pittsfield, MA 01201
One-acre site with restaurant, suitable for retail or redevelopment.
Property Size5,847 SF
Lot Size1.00 Acre
Days on Market1276
Property Features for 451 Dalton Ave
General Information
Standard status
Pending
Size
5,847 SF
Lot size
1.00 Acre
Property subtype
Retail
Listing Agency:
Vanguard-Fine LLC
(518) 862-0861
Listed By:
Kenneth Brownell · License #NY 10491200498
Source:
Crexi
Added: Feb 21, 2023
Changed: Aug 8
Last Checked: Aug 19 at 4:50PM
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 Vanguard-Fine LLC
Investment Insights
Based on property information with market context.
This property features an approximately one-acre site with an operating family restaurant, situated adjacent to Dalton Avenue Plaza in Pittsfield. The existing restaurant's furniture, fixtures, and equipment (FFE) are available. The site benefits from good access and visibility. It is also suitable for a quick service restaurant (QST), gas and convenience store, car wash, free-standing retail establishment, medical office, or small office space.
Key Highlights
- Approximately one acre site with great access and visibility.
- Operating family restaurant with all restaurant FFE available.
- Adjacent to Dalton Avenue Plaza in Pittsfield.
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
$90,743
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
5.50%
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%
$1,814,860
$1.8M
Cap Rate 7%
$1,296,329
$1.3M
Cap Rate 9%
$1,008,256
$1.0M
Market Conditions
NOI Build-Up for 5,847 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
$126.3K $21.60/SF
− Vacancy
−$5.3K −$0.91/SF
EGI
$121.0K $20.69/SF
− OpEx
−$30.2K −$5.17/SF
NOI
$90.7K $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%
$1,814,860
Cap Rate 7%
$1,296,329
Cap Rate 9%
$1,008,256
Alternative Uses
Best Use
Specialty Retail
$1.30M
$1.13M – $1.51M
NOI $90,743 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,840 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
86k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 36%
Superstores 22%
Shops & Services 21%
Dining 16%
DICK'S Sporting Goods
Apparel
30,598 visits/mo
0.5 miles
Big Lots
Superstores
18,977 visits/mo
0.1 miles
Panera Bread
Dining
12,986 visits/mo
0.5 miles
Sunoco
Shops & Services
10,097 visits/mo
0.5 miles
Shell
Shops & Services
3,426 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grand Buffet Star — 61 Cheshire Rd, Pittsfield, MA 01201
Frequently Asked Questions
What type of property is this?
Conventional restaurant - One-acre site with restaurant, suitable for retail or redevelopment.
Where is this conventional restaurant located?
The property is located at 451 Dalton Ave Pittsfield, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Approximately one acre site with great access and visibility.; Operating family restaurant with all restaurant FFE available.; Adjacent to Dalton Avenue Plaza in Pittsfield.
