Listing Agency: Engel & Volkers Wellesley · Engel & Völkers w***@engelvoelkers.com Show Phone

Listed By: Jeffrey Loholdt

Added: Jul 19 Changed: Sep 3 Last Checked: Oct 21 at 10:06PM

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MLS# 73551925

Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 63-acre land offering combines open, level areas with mixed timber extending across changing elevations. A recently built 40 x 60 garage provides substantial utility, including a 10,000 lb truck lift, 400 amp service, and 110/220 electrical outlets spaced throughout the building. Plumbing is stubbed for a bathroom and slop sink, while additional conduit was installed in the slab for future improvements. A hot dog heater is also ready for propane connection.

The property includes an estimated 1,200 feet of road frontage and is located on Main St in Savoy, with access to Adams and North Adams nearby. Town bylaws may allow subdivision, subject to applicable requirements. The rear timberland rises from the more open portions of the property and includes areas with potential views.

Key Highlights

• 63 acres with open areas and mixed timber forestland
• Recently built 40 x 60 garage
• 10,000 lb truck lift and 400 amp electrical service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,836

Cap Rate

3.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,720 $336.7K

Cap Rate 7%

$240,514 $240.5K

Cap Rate 9%

$187,067 $187.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$21.6K $9.00/SF

− Vacancy

−$1.8K −$0.75/SF

EGI

$19.8K $8.25/SF

− OpEx

−$3.0K −$1.24/SF

NOI

$16.8K $7.02/SF

Area

Berkshire County, MA

Vacancy

8.30%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,720

Cap Rate 7%

$240,514

Cap Rate 9%

$187,067

Alternative Uses

Best Use

Warehouse

$240.5K

$210.5K – $280.6K (±1% cap)

NOI $16,836 @ 7.0% cap · market cap 3.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$702.7K

$614.9K – $819.8K (±1% cap)

NOI $49,190 @ 7.0% cap · market cap 9.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Residential land & home ...

Lease Details

Yes

Heavy power

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 01256, MA

645

Population

410

Households

1.6

Avg Household Size

52

Median Age

24%

College-Educated

91%

High-School Grad

35.9 sq mi

ZIP Area

18

Density / Sq Mi

$55,000

Median Household Income

$47,396

Median Earnings

$731

Median Rent

$267,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Residential land & home lot - Open and wooded acreage includes a recently built garage with expansion-ready electrical and plumbing infrastructure.

Where is this residential land & home lot located?

The property is located at 97 Main St Savoy, MA.

What is the asking price?

The asking price for this property is $498,000.

What are key features of this property?

This property features: 63 acres with open areas and mixed timber forestland; Recently built 40 x 60 garage; 10,000 lb truck lift and 400 amp electrical service