363 Main St Amherst, MA 01002-2311
- Investment properties
- 4,434 SF
- 0.13 lot acres
Current Use by Public Records
- Bruno's Pizza / Fast Food Restaurant / Italian Restaurant
Property Details for 363 Main St
- Year built
- 1920
- Construction
- FRAME
- Lot size
- 0.13 lot acres
- Property size
- 4,434 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- AMHE M:0014B B:0000 L:0060
- APU
- AMHEM0014BB0000L0060
Description
This exceptional Amherst property, situated at 363 Main Street Unit 363, presents a unique investment opportunity. Spanning 0.13 acres, the building is zoned Business Village Center, offering considerable flexibility for various commercial and residential uses. Currently configured as a non-conforming mixed-use building, it features two sizable three-bedroom residential units, each providing ample living space, and a separate commercial space, ideal for a variety of businesses. The property benefits from the convenience of separate utility meters for each unit, simplifying management and cost allocation. Heating is provided by natural gas, while public water and sewer services are readily available. Its strategic location near established businesses and public transportation ensures convenient access for both residents and patrons. The property's proximity to the town center further enhances its appeal and potential for growth. This is a rare chance to acquire a versatile property in a thriving Amherst location, offering significant upside potential for savvy investors seeking a blend of residential and commercial income streams. The non-conforming zoning status presents opportunities for creative redevelopment and expansion, subject to local regulations. Serious inquiries are encouraged to explore the full potential of this remarkable investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $330,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $405,000
- 6.5%
- $375,000
- 7%
- $410,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $465,000
- Geo Method
- $380,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $425,000
- Retail
- $495,000
- Mixed-Use
- $440,000
- Hospitality
- $445,000
- Educational
- $400,000
- Residential Income
- $445,000
- Energy
- $460,000
- Income-Based Land
- $500,000
- Food Service
- $500,000
Location Insight
- Map
- Local Demand
- City
- Amherst
- County
- Hampshire
- State
- Massachusetts
- Longitude
- -72.5127
- Latitude
- 42.3756
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
