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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Turn key restaurants
506 Pittsfield Rd, Lenox, MA 01240-2354
Individually Owned
33-yr Hold
~
Est. High Equity
Property ID
US38-0813903
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,972 SF
Lot
0.59 ac (25,709 SF)
Zoning code
C-1A
APN
LENO M:33 B:009 P:0000 U:00
UPID
US38-0813903
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Panda House Chinese Restaurant Restaurant
-
Panda House Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$560k
Blend (final)
Blend
$595k
Owner & transaction history
Richard Chen · 33 yrs held
Richard Chen
since 1993
5 recorded transactions
Zoning & alternative use
C-1A · Lenox, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$870,000
+12.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lenox submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenox submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$775,000
Current use
COMMERCIAL (GENERAL)
$870,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$150 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,878
Tax year 2024
Assessed value
$613,100
Assessed 2024
Previous assessed
$589,000
+4.1% YoY
Effective rate
1.28%
On assessed value
Assessed land
$170,300
Assessed improvement
$442,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
3,972 SF
Lot
0.59 ac (25,709 SF)
Zoning code
C-1A
APN
LENO M:33 B:009 P:0000 U:00
UPID
US38-0813903
Jurisdiction
LENOX
Zoning & alternative use
C-1A · Lenox, MA
Zoning C-1A · permitted uses
C-1A · Lenox, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lenox. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$775,000
COMMERCIAL (GENERAL)
Est. value
$870,000
RESTAURANT Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Richard Chen
Individual
Mailing address
32 HOLMESWOOD TER, LENOX, MA 01240-2182
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2005
—
Richard T Chen
—
Deed Of Trust
related
$1,040,000 · Thomas A Ricchi
Mar 9, 1993
$380,000
Richard Chen
Giaquinta,charles
Grant Deed
$325,000 · Berkshire Cnty Savings Bank
Sep 11, 1989
$87,500
Salvatore J Carusotto
Bartolota,antonio W
Grant Deed
$65,000 · Western Ma Tele Workers Cu
May 27, 1987
$400,000
Charles L Giaquinta
Reinholt,haldor B
Grant Deed
$250,000 · Zenon Grzybowski
May 27, 1987
—
Charles L Giaquints
—
Deed Of Trust
related
$160,000 · Berkshire Cnty Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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