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    1226 Union Street Ext West Springfield, MA 01089

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    For Lease
    $7 SF/Yr ($7,793 /Mo)

    12,469 SF industrial space available for lease.

    Property size:
    12,469 SF
    Lot size:
    12,469 SF

    Property Features for 1226 Union Street Ext

    General Information

    Standard status
    Active
    Size
    12,469 SF

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    Listing Contact
    John Reed
    John Reed
    Source: Cbre

    Listing Agent: John Reed

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    West Springfield Industrial Warehouse Space

    This industrial property in West Springfield, Massachusetts, offers approximately 12,469 square feet of space for lease. Built in 1974, the property includes approximately 10,549 square feet of warehouse space and 1,920 square feet of office space. The warehouse features 20' clear ceiling height, and column spacing of 40' x 50'. It has four drive-in doors: one 10' x 12', one 10' x 14', and two 12' x 18'. The construction is block and steel with 6" floors. The roof was replaced in 2021 with a membrane roof. The property is equipped with a wet sprinkler system, fluorescent lighting, and gas-fired forced hot air heat, with electric baseboard heating in the office area. Air conditioning is available in the office. The property has 1,600 Amps of power at 120/208 Volts and 277/480 Volts. Water and sewer are provided by the Town of West Springfield. The property is located on approximately 1.5 acres and offers ample parking, including space for cars and trailer storage. The zoning is industrial, and there is potential for CSX rail access. The location is one mile from Interstate 91. The property includes three former paint bays and ceiling fans.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Law Firm Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    E-Z Storage Inc, U-Name-It Self Storage, The Auction Preview, Self Storage, Self-Storage at U-Haul

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.606098
    Latitude
    42.092861

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    FAQs

    What type of property is this?
    Warehouse - 12,469 SF industrial space available for lease.
    Where is this warehouse located?
    The property is located at 1226 Union Street Ext West Springfield, MA.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: - Excellent Location: Just 1 mile from Interstate 91 for easy transport.; - Substantial Power Supply: Equipped with 1,600 Amps to support industrial operations.; - 20' clear ceiling height and 40' x 50' column spacing optimize warehouse space.
    (413) 732-9150
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    1226 Union Street Ext West Springfield, MA 01089
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    West Springfield, MA 01089
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1226 Union Street Ext West Springfield, MA 01089
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    Listing Contact
    John Reed
    John Reed
    (413) 732-9150 (860) 559-1562
    Learn more
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