Updated Triplex Near Forest
For Sale
$405,000
Pending
29 Warriner Ave, Springfield, MA 01108
Three-family property with recent updates and Section 8 tenants.
Property Size2,813 SF
Lot Size0.08 Acres
Days on Market271
Property Features for 29 Warriner Ave
General Information
Standard status
Pending
Size
2,813 SF
Lot size
0.08 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,731
Building Details
Building Size
2,813 SF
Year Built
1897
Stories
3
Units
3
Listing Agency:
(413) 530-3962
Listed By:
Wayne Lawrence
(413) 530-3962
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 25 at 10:47AM
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 Wayne Lawrence
Investment Insights
Based on property information with market context.
This is a three-family residential income property, offering a potential investment opportunity. The property benefits from recent updates and comes with existing Section 8 tenants. Located approximately 1.2 miles from the entrance of Forest Park and 1 mile from the MGM Casino, the property features separate utilities for each unit.
Key Highlights
- Great investment property with Section 8 tenants in place
- Separate utilities for each unit
- Proximity to Forest Park (1.2 miles)
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
$37,039
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
9.15%
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%
$740,780
$740.8K
Cap Rate 7%
$529,129
$529.1K
Cap Rate 9%
$411,544
$411.5K
Market Conditions
NOI Build-Up for 2,813 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
$70.9K $25.20/SF
− Vacancy
−$3.5K −$1.26/SF
EGI
$67.3K $23.94/SF
− OpEx
−$30.3K −$10.77/SF
NOI
$37.0K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$740,780
Cap Rate 7%
$529,129
Cap Rate 9%
$411,544
Alternative Uses
Best Use
Multifamily LT 5
$594.8K
$520.5K – $694.0K
NOI $41,638 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$529.1K
$463.0K – $617.3K
NOI $37,039 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$763.9K
$668.4K – $891.2K
NOI $53,470 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with recent updates and Section 8 tenants.
Where is this triplex located?
The property is located at 29 Warriner Ave Springfield, MA.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Great investment property with Section 8 tenants in place; Separate utilities for each unit; Proximity to Forest Park (1.2 miles)
