Mixed-Use Building with
For Sale
$589,900
1036 Chicopee St, Chicopee, MA 01013
Flexible commercial space with apartments and leased garage units supports multiple income-producing uses.
Property Size1,956 SF
Days on Market19
Property Features for 1036 Chicopee St
General Information
Standard status
Active
Size
1,956 SF
Total Parking Spaces
6
Property subtype
Commercial
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
basement storage
two bathrooms
Building Details
Building Size
1,956 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 25 at 5:19AM
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
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.
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 = 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
$32,138
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
5.45%
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%
$642,760
$642.8K
Cap Rate 7%
$459,114
$459.1K
Cap Rate 9%
$357,089
$357.1K
Market Conditions
NOI Build-Up for 1,956 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
$46.9K $24.00/SF
− Vacancy
−$1.0K −$0.53/SF
EGI
$45.9K $23.47/SF
− OpEx
−$13.8K −$7.04/SF
NOI
$32.1K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /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%
$642,760
Cap Rate 7%
$459,114
Cap Rate 9%
$357,089
Alternative Uses
Best Use
Retail
$459.1K
$401.7K – $535.6K
NOI $32,138 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$339.2K
$296.8K – $395.7K
NOI $23,742 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,387 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
