Building Details

Building Size 3,960 SF

Year Built 1956

Tenancy Multi

Listing Agency: IVerty Realty, LLC

Listed By: Mela Dieujuste · License #452508574 Show Phone

Source: Iverty

Added: Aug 12 Changed: Oct 15 Last Checked: Oct 15 at 1:15AM

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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 IVerty Realty, LLC

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Investment Insights

Based on property information with market context.

Constructed in 1956, this mixed-use property combines a flexible commercial area with residential and garage components. The first-floor commercial space measures 1,450 square feet and features an open layout, two bathrooms, comprehensive insulation, and basement storage. Its configuration can accommodate a range of concepts, including retail, wellness, coworking, gallery, or fitness uses.

Two apartments are located upstairs, while six exterior garages are also part of the property. All eight residential and garage units are currently rented. The property is located at 1036 Chicopee St in Chicopee, Massachusetts, and carries zoning designation 113.

Key Highlights

• 1,450 SF open commercial space with two bathrooms and basement storage
• Two upstairs apartments, both currently rented
• Six exterior garages, all currently rented

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,067

Cap Rate

8.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$961,340 $961.3K

Cap Rate 7%

$686,671 $686.7K

Cap Rate 9%

$534,078 $534.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,960 SF

Gross rent

$92.2K $23.28/SF

− Vacancy

−$4.8K −$1.21/SF

EGI

$87.4K $22.07/SF

− OpEx

−$39.3K −$9.93/SF

NOI

$48.1K $12.14/SF

Area

Hampden County, MA

Vacancy

5.20%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$961,340

Cap Rate 7%

$686,671

Cap Rate 9%

$534,078

Alternative Uses

Best Use

Retail

$929.5K

$813.3K – $1.08M (±1% cap)

NOI $65,064 @ 7.0% cap · market cap 11.03%

Second Best

Apartment 5plus

$686.7K

$600.8K – $801.1K (±1% cap)

NOI $48,067 @ 7.0% cap · market cap 8.15%

Theoretical Best

Office A

$2.44M

$2.14M – $2.85M (±1% cap)

NOI $170,844 @ 7.0% cap · market cap 28.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Dental Office Real Estate Agency Law Firm Pharmacy Skin Care Clinic Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

475

Businesses Nearby

Explore this area Business Placement

Demographics for 01013, MA

23,656

Population

10,309

Households

2.3

Avg Household Size

38

Median Age

23%

College-Educated

87%

High-School Grad

5.7 sq mi

ZIP Area

4,150

Density / Sq Mi

$64,039

Median Household Income

$45,268

Median Earnings

$1,005

Median Rent

$249,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible commercial space with apartments and leased garage units supports multiple income-producing uses.

Where is this mixed-use property located?

The property is located at 1036 Chicopee St Chicopee, MA.

What is the asking price?

The asking price for this property is $589,900.

What are key features of this property?

This property features: 1,450 SF open commercial space with two bathrooms and basement storage; Two upstairs apartments, both currently rented; Six exterior garages, all currently rented