42 Summer St - Medical FOR SALE


Pittsfield, MA 01201
$1,900,000 USD
413-450-1366
42 Summer St, Pittsfield, MA for Sale
$1,900,000 USD
Medical - FOR SALE
1/109
null | 9.84% Cap Rate

42 Summer St
Pittsfield, MA 01201


HIGHLIGHTS

  • 9.86% Cap | 100% Leased Medical + Fitness | Downtown Pittsfield | $1.9M
  • Credit stack: Berkshire Medical Center + Quest Diagnostics (NYSE: DGX)
  • Historic 3-story Yon Building, ±34,094 SF, elevator, sprinklers, on-site parking plus municipal lot across the street

OVERVIEW

The Yon Building at 42–56 Summer Street is a fully leased downtown Pittsfield investment offered at $1,900,000. Trailing-twelve-month NOI of $187,261 produces a 9.86% cap rate — in-place cash flow in a landmark three-story masonry building with on-site parking. Berkshire Fitness occupies the entire first floor and has operated a gym at this address since 2001, with a contractual increase already scheduled for October 2026. Berkshire Healing Arts has occupied the third floor since at least 2010 and holds options through 2035. Berkshire Medical Center leases a second-floor outpatient suite through April 2029. Quest Diagnostics, a publicly traded national laboratory, has been in the building since 2010 and just extended through January 2030. Medical and diagnostic users represent roughly half of base rent; no single tenant dominates the roll. Income is already growing. All four leases contain contractual rent steps. No speculative lease-up is required. The building is elevator-served and wet-sprinklered, with a glazed storefront, on-site parking, and the municipal Summer Street lot directly across the street. Ownership has upgraded the HVAC system, reconstructed the building parking lot, modernized the elevator, and completed façade and masonry work. Near-term capital needs are modest. Leases are modified-gross. The landlord carries taxes, insurance, and most operating lines. BMC reimburses 8.25% of CAM; Healing Arts reimburses 65.9% of third-floor heating gas. Adjacent parking at 73 and 95 Union Street is available under separate purchase and is not included in this offering. Downtown Pittsfield is Berkshire County’s commercial and healthcare hub — one block off North Street, a short walk from Berkshire Medical Center’s main campus and the Amtrak station. At ±$56 per square foot, the basis is a fraction of replacement cost for a three-story elevator masonry building with this parking. Fee simple. Tours by appointment only. Please do not contact tenants. Inquiries: admin@skytopre.com

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$56 USD /SF

CAP RATE

9.84%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Yon Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1890

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

BD

APN/PARCEL ID

PITT-000009H-000026-000012

ASK ABOUT THIS PROPERTY

Cole UngarSkytop PropertiesMore Info
413-450-1366

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Cole UngarSkytop PropertiesMore Info
413-450-1366

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.