Three-Bay Auto Repair
For Sale
$349,900
1300 Worcester St, Springfield, MA 01151
Automotive facility with an inspection station, high-clearance doors, and rear flex space.
Property Size1,945 SF
Lot Size0.36 Acres
Days on Market16
Property Features for 1300 Worcester St
General Information
Standard status
Active
Size
1,945 SF
Lot size
0.36 Acres
Property subtype
Commercial
Lease Term
Existing Lease Type: Gross
Additional Details
Service Bays
3
Amenities
high-clearance doors
inspection station
flex space
Building Details
Building Size
1,945 SF
Year Built
1945
Listing Agency:
Keller Williams Realty
(413) 565-5478
Listed By:
Fred Miller · License #9538878
(413) 478-1153
Source:
Iverty
Added: Sep 11
Changed: Sep 24
Last Checked: Sep 24 at 9:51AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1945, this automotive property includes a three-bay repair shop configured for vehicle service, along with high-clearance doors and an inspection station. The site also provides flex space behind the repair bays, offering additional functional area for automotive or complementary operations. A transferable permit for up to 27+ automobiles is included with the property.
The facility occupies a 15,600-square-foot lot at 1300 Worcester Street in Springfield, Massachusetts. Its combination of service bays, inspection capability, vehicle capacity, and rear flex space supports a range of automotive business configurations within an established commercial property.
The facility occupies a 15,600-square-foot lot at 1300 Worcester Street in Springfield, Massachusetts. Its combination of service bays, inspection capability, vehicle capacity, and rear flex space supports a range of automotive business configurations within an established commercial property.
Key Highlights
- Three‑bay auto repair shop with high‑clearance doors
- Inspection station included
- Transferable permit for up to 27+ automobiles
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
$26,231
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
7.50%
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%
$524,620
$524.6K
Cap Rate 7%
$374,729
$374.7K
Cap Rate 9%
$291,456
$291.5K
Market Conditions
NOI Build-Up for 1,945 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
$44.3K $22.80/SF
− Vacancy
−$4.0K −$2.05/SF
EGI
$40.4K $20.75/SF
− OpEx
−$14.1K −$7.26/SF
NOI
$26.2K $13.49/SF
Area
Springfield, MA
Vacancy
9.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
35.00%
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%
$524,620
Cap Rate 7%
$374,729
Cap Rate 9%
$291,456
Alternative Uses
Best Use
Flex RnD
$374.7K
$327.9K – $437.2K
NOI $26,231 @ 7.0% cap · market cap 7.50%
Second Best
Retail
$322.1K
$281.8K – $375.8K
NOI $22,546 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$528.2K
$462.1K – $616.2K
NOI $36,971 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01151, MA
9,150
Population
3,959
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
77%
High-School Grad
2.4 sq mi
ZIP Area
3,813
Density / Sq Mi
$57,113
Median Household Income
$39,117
Median Earnings
$1,239
Median Rent
$219,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Ed's Custom Muffler Shop — 100 Verge St, Springfield, MA 01129
- Gene's Alignment Tire and Brake — 10 Dean St, Indian Orchard, MA 01151
- A&J AUTOMOTIVE — 433 Main St, Indian Orchard, MA 01151
- Performance Auto Accessories LLC — 479 Main St, Springfield, MA 01151
- Orchard Auto Sales & Repair — 1307 Worcester St, Indian Orchard, MA 01151
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with an inspection station, high-clearance doors, and rear flex space.
Where is this auto shop located?
The property is located at 1300 Worcester St Springfield, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three‑bay auto repair shop with high‑clearance doors; Inspection station included; Transferable permit for up to 27+ automobiles
