384 Main St, Unit | Williamstown Williamstown, MA 01267
- Retail space
- 8,976 SF
- 1.69 lot acres
Current Use by Public Records
- Retail space
Property Details for 384 Main St
- Year built
- 2008
- Lot size
- 1.69 lot acres
- Property size
- 8,976 SF
- Zone code
- PB
- Property type
- Retail space
- APN
- WILL M:111.0 B:0030
- APU
- WILLM1110B0030
Description
This exceptional Class A retail investment property, located at 384 Main St, Williamstown, MA 01267, presents a compelling opportunity. The 10,736 square foot center boasts two nationally recognized tenants: Dollar General and Subway, operating under strong corporate guarantees. Both tenants recently renewed their leases, demonstrating long-term commitment. The property features 44 parking spaces and underwent extensive renovations in 2024, including a new roof and parking lot, eliminating any deferred maintenance. The current lease terms extend through December 31, 2028, with a remaining term of four years, commencing January 1, 2024. The investment offers a 7.54% cap rate and a substantial net operating income (NOI) of $139,796. Annual rent increases are built into the leases, with Dollar General's increasing by 5% every five years and Subway's increasing by 2.5% annually. The property is offered fee simple and is suitable for a 1031 exchange. Situated in Williamstown, Massachusetts, this property benefits from its location in the heart of the Berkshires and proximity to Williams College, a top liberal arts institution. This multi-tenant retail investment provides a diversified income stream and offers an in-place management option. The property's strong tenant mix, recent renovations, and attractive lease terms make it an ideal addition to any portfolio.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,050,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,560,000
- 6.5%
- $1,755,000
- 7%
- $1,780,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,885,000
- Geo Method
- $1,785,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,050,000
- Retail
- $2,055,000
- Mixed-Use
- $2,050,000
- Hospitality
- $1,675,000
- Educational
- $2,120,000
- Residential Income
- $1,750,000
- Energy
- $1,645,000
- Income-Based Land
- $1,670,000
- Food Service
- $1,715,000
Location Insight
- Map
- Local Demand
- City
- Williamstown
- County
- Berkshire
- State
- Massachusetts
- Longitude
- -73.1883
- Latitude
- 42.7049
- CBSA code
- 38340
- CBSA name
- PITTSFIELD, MA METROPOLITAN STATISTICAL AREA
