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    495 Pittsfield Rd Lenox, MA 01240
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    Property profile & analytics

    495 Pittsfield Rd Lenox, MA 01240

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    • Retail properties & Spaces
    • 20,631 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Western Union / Bank / Credit Union
    • Market 32 / Specialty Food Shop / Supermarket

    Property Details for 495 Pittsfield Rd

    Property size
    20,631 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    The Center at Lenox offers a prime retail opportunity in Berkshire County. This multi-tenant commercial center totals 20,631 square feet and is currently 100% vacant, presenting a unique chance for a single tenant or multiple businesses to establish a presence. The property offers flexible space options, with the largest contiguous space measuring 12,838 square feet, ideal for a flagship store or anchor tenant. Smaller, subdividable units are also available, starting at a minimum of 2,088 square feet, making it suitable for a variety of retail concepts. The building's layout allows for customization to meet individual tenant needs. This high-visibility location within a busy commercial center ensures significant foot traffic and exposure, providing an excellent opportunity for businesses seeking a strong presence in a desirable market. The property is categorized as a commercial center, encompassing grocery and inline retail subtypes. The total vacant space available for lease is 20,631 square feet, offering substantial flexibility for potential tenants. This presents a rare opportunity to secure a significant retail footprint in a thriving Berkshire County location. Interested parties are encouraged to inquire for further details and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lenox
    County
    Berkshire
    State
    Massachusetts
    Longitude
    -73.2664
    Latitude
    42.4063

    Comparable in this City

    • Value Estimation
      $905,000
      6,047 SF

      25 Pittsfield Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,047 SF
      25 Pittsfield Rd, Lenox, MA 01240-2388
      View Details
    • Value Estimation
      $1,155,000
      3,899 SF

      22 Walker St

      RETAIL STORES (PERSONAL SERVICES) • 3,899 SF
      22 Walker St, Lenox, MA 01240-2758
      View Details
    • Value Estimation
      $1,880,000
      17,080 SF

      224 Housatonic St

      RETAIL STORES (PERSONAL SERVICES) • 17,080 SF
      224 Housatonic St, Lenox, MA 01240-2552
      View Details
    • Value Estimation
      $1,600,000
      9,714 SF

      450 Pittsfield Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,714 SF
      450 Pittsfield Rd, Lenox, MA 01240-2903
      View Details
    • Value Estimation by Request

      Walker St

      RETAIL STORES (PERSONAL SERVICES)
      Walker St, Lenox, MA 01240
      View Details
    • Value Estimation
      $1,255,000
      6,762 SF

      35 Church St

      RETAIL STORES (PERSONAL SERVICES) • 6,762 SF
      35 Church St, Lenox, MA 01240-2504
      View Details

    Similar Nearby for Sale

    • $425,000
      Pending

      Lenox Multi-Family Near Downtown

      Two-family property in Lenox, minutes from downtown.
      137 Housatonic St, Lenox, MA 01240
      View Details
    • $450,000
      3.44 Acres

      Berkshire Land Parcel For Sale

      3.44 acre parcel ready to build your Berkshire home.
      117 Lime Kiln Rd, Lenox, MA 01240
      View Details
    • $250,000
      Pending

      Lenox Commercial Land Opportunity

      3-acre commercially zoned land with high visibility in Lenox.
      249 Pittsfield Rd, Lenox, MA 01240
      View Details
    • $199,000

      Turn-Key Restaurant on Route 7

      Successful breakfast and lunch restaurant in prime Lenox location.
      439 Pittsfield Rd, Lenox, MA 01240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,088 SF

      Prime Retail Space in Lenox

      Retail space in a high-traffic shopping center in Lenox.
      489-505 Pittsfield Rd, Lenox, MA 01240
      View Details
    • $20 SF/Yr
      4,000 SF

      Retail Building on Heavily-Traveled Road

      Freestanding 4,000 SF retail building at signalized intersection.
      490 Pittsfield Rd, Lenox, MA 01240
      View Details
    • Contact for pricing

      Grocery Anchored Retail Space

      Retail spaces available in a busy, grocery-anchored shopping center.
      495 Pittsfield Rd, Lenox, MA 01240
      View Details
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    Lenox, MA 01240
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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.

    More about this property
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