Second-Floor Office
New
For Sale
Contact for pricing
1319-1323 Main St Unit 230, Springfield, MA 01103
Reception, private offices, and a kitchenette create a functional multi-room workplace.
Property Size2,660 SF
Price / SF$0.00
Days on Market4
Property Features for 1319-1323 Main St Unit 230
General Information
Standard status
Active
Size
2,660 SF
Property subtype
Commercial
Additional Details
Floor
2
Highway Access
Yes
Building Details
Year Built
1876
Tenancy
Multi
Listing Agency:
Pioneer CRE
(413) 312-9299
Listed By:
Paul Bongiorni · License #9575704
(413) 459-0570
Source:
Lockandkeyre
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 2:08AM
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 Pioneer CRE
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located on the second floor of Market Place in downtown Springfield, this office suite spans approximately 2,660 SF. Its layout includes a reception area, multiple private offices, and a kitchenette. The building dates to 1876, and the suite has large windows.
Market Place is also home to the Springfield Regional Visitor Center, Springfield Business Improvement District, Mocha Trade Coffee Company, Nosh Cafe, and Minuteman Press. City Hall, area highways, and surrounding amenities are nearby.
Market Place is also home to the Springfield Regional Visitor Center, Springfield Business Improvement District, Mocha Trade Coffee Company, Nosh Cafe, and Minuteman Press. City Hall, area highways, and surrounding amenities are nearby.
Key Highlights
- Approximately 2,660 SF on the second floor
- Reception area, multiple private offices, and kitchenette
- Large windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,628
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,560
$732.6K
Cap Rate 7%
$523,257
$523.3K
Cap Rate 9%
$406,978
$407.0K
Market Conditions
NOI Build-Up for 2,660 SF
Gross rent
$57.5K $21.60/SF
− Vacancy
−$8.6K −$3.24/SF
EGI
$48.8K $18.36/SF
− OpEx
−$12.2K −$4.59/SF
NOI
$36.6K $13.77/SF
Area
Springfield, MA
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,560
Cap Rate 7%
$523,257
Cap Rate 9%
$406,978
Alternative Uses
Best Use
Office B
$523.3K
$457.9K – $610.5K
NOI $36,628 @ 7.0% cap · market cap 305,233.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$722.3K
$632.0K – $842.7K
NOI $50,561 @ 7.0% cap · market cap 421,341.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 01103, MA
2,545
Population
1,728
Households
1.5
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
0.4 sq mi
ZIP Area
6,363
Density / Sq Mi
$21,458
Median Household Income
$38,156
Median Earnings
$1,053
Median Rent
$148,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Reception, private offices, and a kitchenette create a functional multi-room workplace.
Where is this office units located?
The property is located at 1319-1323 Main St Unit 230 Springfield, MA.
What are key features of this property?
This property features: Approximately 2,660 SF on the second floor; Reception area, multiple private offices, and kitchenette; Large windows
