Retail Property in Springfield,
For Sale
Contact for pricing
1027 E Columbus Ave, Springfield, MA
Retail property for sale in a high-traffic Springfield location.
Property Size2,442 SF
Lot Size0.12 Acres
Price / SF$202.70
Days on Market439
Property Features for 1027 E Columbus Ave
General Information
Standard status
Active
Size
2,442 SF
Lot size
0.12 Acres
Property subtype
RETAIL
Listing Agency:
Region Commercial
(413) 530-3215
Listed By:
Ben Bolotin · License #9582125
(413) 530-3215
Source:
Moodyscre
Added: Jun 9, 2025
Changed: Aug 19
Last Checked: Aug 20 at 8:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Region Commercial
Investment Insights
Based on property information with market context.
The property at 1027 East Columbus Avenue in Springfield, MA, is available for sale. Situated on approximately 0.25 acres, the property encompasses around 2,442 square feet. It is located just south of downtown Springfield along the East Columbus Avenue corridor, a key arterial route offering direct access to I-91 and Route 83. This high-traffic area provides signage opportunities and connectivity, and is located minutes from Union Station, MGM Springfield, and the MassMutual Center. The site is positioned within a mixed commercial and institutional area, near municipal buildings, legal offices, and local retailers.
Key Highlights
- High‑visibility location on East Columbus Avenue corridor.
- Direct access to I‑91 and Route 83.
- Proximity to Union Station, MGM Springfield, and MassMutual Center.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,308
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$566,160
$566.2K
Cap Rate 7%
$404,400
$404.4K
Cap Rate 9%
$314,533
$314.5K
Market Conditions
NOI Build-Up for 2,442 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.0K $18.00/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$40.4K $16.56/SF
− OpEx
−$12.1K −$4.97/SF
NOI
$28.3K $11.59/SF
Area
Springfield, MA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$566,160
Cap Rate 7%
$404,400
Cap Rate 9%
$314,533
Alternative Uses
Best Use
Retail
$404.4K
$353.9K – $471.8K
NOI $28,308 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.1K
$580.2K – $773.6K
NOI $46,418 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,902
Businesses Nearby
146k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Leisure 15%
Shops & Services 14%
Hotels & Casinos 7%
McDonald's
Dining
28,284 visits/mo
0.4 miles
Regal MGM Springfield
Leisure
22,010 visits/mo
0.2 miles
Starbucks
Dining
18,583 visits/mo
0.1 miles
Burger King
Dining
16,461 visits/mo
0.2 miles
Dunkin' Donuts
Dining
11,451 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property for sale in a high-traffic Springfield location.
Where is this retail space located?
The property is located at 1027 E Columbus Ave Springfield, MA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High‑visibility location on East Columbus Avenue corridor.; Direct access to I‑91 and Route 83.; Proximity to Union Station, MGM Springfield, and MassMutual Center.
