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    349 Old Stockbridge Rd Lenox, MA 01240

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    349 Old Stockbridge Rd Lenox, MA 01240

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    Current Use by Public Records

    • Hillcrest Educational Center / High School

    Property Details for 349 Old Stockbridge Rd

    Year built
    1902
    Property type
    Specialty properties
    Property subtype
    Healthcare properties

    Description

    This exceptional 38,415 square foot healthcare building presents a unique investment opportunity in Lenox, MA. Situated on a sprawling 11.9-acre campus at 349 Old Stockbridge Rd, zip code 01240, this property boasts a rich history, detailed in "The Berkshire Cottages-A Vanishing Era." Originally constructed in 1903 by Samuel Frothingham, the building, designed by Adams and Warren of NYC and built by Joseph Clifford's Sons, has served as an academic setting for various private residential schools. Its prime location offers convenient access to downtown Lenox (1.8 miles away) and the region's renowned cultural attractions. The property's extensive size and historical significance make it an ideal candidate for adaptive reuse or continued operation as a healthcare facility. The building has been well-maintained throughout its history. Lenox itself offers a vibrant community with year-round appeal, enhanced by its proximity to Tanglewood and other cultural amenities, as well as scenic trails and conservation areas. The property is conveniently located within a short drive of major cities including Albany, NY (50 minutes), New York, NY (approximately 2 hours 50 minutes), Boston, MA (approximately 2 hours), Pittsfield, MA (approximately 15 minutes), and Springfield, MA (approximately 1 hour). The asking price is $3,100,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lenox
    County
    State
    Massachusetts

    Comparable in this City

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    • $500,000
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      Lenox Land Ready to Build

      3.44 acre parcel ready for construction in Lenox, MA.
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    • $250,000
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      Lenox Commercial Land Opportunity

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

      Turn-Key Restaurant on Route 7

      Successful breakfast and lunch restaurant in prime Lenox location.
      439 Pittsfield Rd, Lenox, MA 01240
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    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
    • $500,000
      3.44 Acres

      Lenox Land Ready to Build

      3.44 acre parcel ready for construction in Lenox, MA.
      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

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      2,088 SF

      Prime Retail Space in Lenox

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    • $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
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    • Contact for pricing

      Grocery Anchored Retail Space

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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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