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    48 N Pleasant St Amherst, MA 01002
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    Property profile & analytics

    48 N Pleasant St Amherst, MA 01002

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    • Office buildings
    • 15,357 SF
    • 0.24 lot acres
    For Lease
    $4,015,000
    View Listing →
    Downtown Retail and Office Space For Lease
    $4,015,000

    Downtown Retail and Office Space

    Retail and office suites available in downtown location.

    48 N Pleasant St, Amherst, MA 1002
    View Listing
    Property ID
    US38-0818512
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Anthem Blue Cross / Insurance Agency
    • Dunn Associates / Tax Preparation
    • Electrolysis by Athena & Lorraine / Hair Salon
    • D Angelo Real Estate Inc / Real Estate Agency
    • Dr. Arthur Palladino jr, MD / Physician

    Property Details for 48 N Pleasant St

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    0.24 lot acres
    Property size
    15,357 SF
    Property type
    Office buildings
    APN
    AMHE M:0014A B:0000 L:0040
    APU
    AMHEM0014AB0000L0040

    Description

    This exceptional Amherst, MA office space, located at 48 N Pleasant Street (cross street: Amity Street), offers a prime location in the heart of downtown. The building, a three-story Class B property constructed in 1984, features two total suites with elevator access. Ideal for businesses seeking flexible space, this listing presents one available office suite ranging from 404 to 487 contiguous square feet. The minimum divisible space is 404 square feet, making it suitable for a variety of tenant needs. The building is conveniently zoned for business use and is handicap accessible, ensuring inclusivity and convenience. This traditional office space provides a professional environment within a vibrant downtown setting, offering easy access to local amenities and businesses. The property's central location and functional design make it an attractive option for companies seeking a well-maintained and accessible office space in Amherst. The building's multiple tenancy structure allows for a diverse range of businesses to coexist. This is a fantastic opportunity to establish a presence in a thriving downtown area. Inquire today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,055,000
      Market price range: $1.71M - $5.16M
      AI Estimate
      $4,462,000
      Market price range: $1.04M - $7.82M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,940,000
      Current use
      COMMERCIAL (GENERAL)
      $2,675,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Amherst
    County
    Hampshire
    State
    Massachusetts
    Longitude
    -72.5203
    Latitude
    42.3764
    CBSA code
    44140
    CBSA name
    SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $40,887
    $257,200
    $1,951,700
    $2,208,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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      422 Amity St

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    • Value Estimation by Request
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    • Value Estimation
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      100 University Dr

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      View Details
    • Value Estimation
      $1,295,000
      4,428 SF

      256 Pleasant St

      OFFICE BUILDING • 4,428 SF
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      View Details

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      Amherst Developable Land Near Route 9

      4.5 acre parcel near Route 9, suitable for development.
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    Similar Nearby for Lease

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      Office and flex space for lease near downtown Amherst.
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    • $35 SF/Yr
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      Office Space in Amherst, MA

      600 SF office space available for lease.
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    • $1,750 /Mo
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      Retail/Office Suite in Amherst

      Retail or office suite available in Amherst Crossing.
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      Downtown Office Space with Finishes

      Handicap accessible office space with utilities included in downtown Amherst.
      48 N Pleasant St, Amherst, MA 01002
      View Details
    • $600 /Mo

      First Floor Shared Office Space

      First floor office space with shared amenities for rent.
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      View Details
    View Listing
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    Amherst, MA 01002
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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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