Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1365 Main St Springfield, MA 01103

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr ($2,245 /Mo)

    First-floor suite in downtown Springfield's Market Place.

    Property size:
    1,497 SF
    Lot size:
    0.23 Acres

    Property Features for 1365 Main St

    General Information

    Standard status
    Active
    Size
    1,497 SF
    Lot size
    0.23 Acres

    Building Details

    Year built
    1860

    We can help!

    Listing Contact
    Paul Bongiorni
    Paul Bongiorni
    Source: Exitrealty

    Listing Agency: Pioneer CRE Listing Agent: Paul Bongiorni

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

    Learn more

    Overview

    Downtown Springfield Office/Retail Suite

    Located in downtown Springfield's Market Place, this first-floor suite is suitable for office or retail use. The 1,497 square foot space is visibly located in the Market Place atrium, which serves as a busy cut-through from Main Street to Market Street. The suite features multiple entrances and exits, including two located next to the elevator. The current layout includes several private offices or conference rooms, a reception area, a bathroom, and a kitchenette. Large glass windows face the hall, providing signage and display opportunities. The suite could potentially be joined with a smaller adjacent suite. The property is located among Market Place's mix of retail, restaurant, and professional office tenants.
    Location Intelligence

    Current Use by Public Records

    New England Blue ... Construction Company Novalicious Beauty Bar Hair Salon C.HR Services Employment Agency Young Lenny Productions Recording Studio Berry Dumpster Rental Waste Management Facility

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Law Firm Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5892794
    Latitude
    42.1024288

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MA, Springfield - Main St

      Discover many ways to work your way in Downtown
      1500 Main St, Springfield, MA 01115
      View Details
    • $15 SF/Yr
      1,056 SF

      Downtown Springfield Retail/Restaurant Space

      Retail or restaurant space in downtown Springfield with high foot traffic.
      1373-1383 Main St, Springfield, MA 01103
      View Details
    • $11 SF/Yr
      4,500 SF

      Unique Office Space Available

      Office spaces with preserved decor and natural wood finishes.
      15-19 Hampden St, Springfield, MA 01103
      View Details
    • $3,000 /Mo

      Medical/Office Space in Springfield, MA

      2,657 SF medical/office space for sale or lease.
      299 Carew St, Springfield, MA 01104
      View Details
    • $17 SF/Yr
      13,500 SF

      Historic Bank Space in Springfield

      Former bank space for lease in downtown Springfield.
      1351 Main St, Springfield, MA 01103
      View Details
    • $21 SF/Yr
      38 SF

      Downtown Springfield Office Space Available

      Office space for lease in downtown Springfield near MGM Casino.
      1095 Main St, Springfield, MA 01103
      View Details
    • $12 SF/Yr

      6,000 SF Retail Space

      6,000 SF retail space in high visibility area.
      665 Liberty St, Springfield, MA 01104
      View Details
    • $21 SF/Yr

      Downtown Springfield Office Space Available

      Office space for lease in downtown Springfield near MGM Casino.
      1095 Main St, Springfield, MA 01103
      View Details
    • $15 SF/Yr

      Springfield Office Space For Lease

      Office space for lease with large open floor plan.
      494 Belmont Ave, Springfield, MA 01108
      View Details
    • $26 SF/Yr

      Prime Retail Space on Boston Road

      High-visibility retail space with ample parking and signage.
      1376 Boston Rd, Springfield, MA 01119
      View Details
    • Contact for pricing

      Springfield Office Space for Lease

      Office space available near major highways with ample parking.
      101 Wason Ave, Springfield, MA 01107
      View Details
    • $16 SF/Yr

      Springfield Office Space For Lease

      8,000 SF office space available near I-291.
      66 Industry Ave, Springfield, MA 01104
      View Details

    FAQs

    What type of property is this?
    Office units - First-floor suite in downtown Springfield's Market Place.
    Where is this office units located?
    The property is located at 1365 Main St Springfield, MA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility location in the busy Market Place atrium connecting Main Street and Market Street.; - Multiple entrances/exits, including two next to the elevator.; - Versatile space suitable for office or retail use.
    (413) 459-0570
    Request Owner's contact information
    1365 Main St Springfield, MA 01103
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1365 Main St
    Springfield, MA 01103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1365 Main St Springfield, MA 01103
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Paul Bongiorni
    Paul Bongiorni
    Real Estate License ID: 9575704
    (413) 459-0570 (413) 312-9299 (413) 459-4595
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!