Mixed-Use Property with Income
For Sale
$330,000
774-776 Liberty St, Springfield, MA 01104
Investment property featuring a barbershop and a three-bedroom apartment.
Property Size1,740 SF
Lot Size0.05 Acres
Days on Market266
Property Features for 774-776 Liberty St
General Information
Standard status
Active
Size
1,740 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,195
Building Details
Building Size
1,740 SF
Year Built
1914
Stories
2
Units
2
Listing Agency:
(413) 364-2160
Listed By:
Erica Nunley
(413) 364-2160
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 20 at 10:10AM
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 Erica Nunley
Investment Insights
Based on property information with market context.
This mixed-use investment property features a functioning barbershop on the ground floor and a three-bedroom apartment on the second floor. The apartment includes hardwood floors, an eat-in kitchen, a large living room with a picture window, and a master bedroom with a walk-in closet. The barbershop provides consistent cash flow. The property is centrally located near the highway, Baystate Hospital, and shopping areas.
Key Highlights
- Functioning barbershop provides consistent cash flow.
- Second floor features a three‑bedroom apartment.
- Central location near highway, Baystate Hospital, and shopping.
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
$23,490
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
7.12%
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%
$469,800
$469.8K
Cap Rate 7%
$335,571
$335.6K
Cap Rate 9%
$261,000
$261.0K
Market Conditions
NOI Build-Up for 1,740 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
$41.8K $24.00/SF
− Vacancy
−$4.2K −$2.40/SF
EGI
$37.6K $21.60/SF
− OpEx
−$14.1K −$8.10/SF
NOI
$23.5K $13.50/SF
Area
Springfield, MA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$469,800
Cap Rate 7%
$335,571
Cap Rate 9%
$261,000
Alternative Uses
Best Use
Mixed Use
$335.6K
$293.6K – $391.5K
NOI $23,490 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$327.3K
$286.4K – $381.9K
NOI $22,911 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$472.5K
$413.4K – $551.2K
NOI $33,074 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
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 - Investment property featuring a barbershop and a three-bedroom apartment.
Where is this mixed-use property located?
The property is located at 774-776 Liberty St Springfield, MA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Functioning barbershop provides consistent cash flow.; Second floor features a three‑bedroom apartment.; Central location near highway, Baystate Hospital, and shopping.
