Third-Floor Office
For Sale
Contact for pricing
1319-1323 Main St Unit 360, Springfield, MA 01103
A compact office workspace in a mixed-tenant downtown complex near City Hall and area highways.
Property Size450 SF
Price / SF$0.04
Days on Market13
Property Features for 1319-1323 Main St Unit 360
General Information
Standard status
Active
Size
450 SF
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Highway Access
Yes
Additional Details
Floor
3
Property Use
Office
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 20
Changed: Oct 31
Last Checked: Nov 1 at 6:04AM
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.
The third-floor office suite contains approximately 450 square feet and is located within the Market Place complex, an established multi-tenant property in downtown Springfield.
Market Place includes 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 includes 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 450 SF on the third floor
- Market Place tenants include the Springfield Regional Visitor Center, Springfield Business Improvement District, Mocha Trade Coffee Company, Nosh Cafe, and Minuteman Press
- Downtown Springfield location near City Hall and area highways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,197
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,940
$123.9K
Cap Rate 7%
$88,529
$88.5K
Cap Rate 9%
$68,856
$68.9K
Market Conditions
NOI Build-Up for 450 SF
Gross rent
$9.7K $21.60/SF
− Vacancy
−$1.5K −$3.24/SF
EGI
$8.3K $18.36/SF
− OpEx
−$2.1K −$4.59/SF
NOI
$6.2K $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%
$123,940
Cap Rate 7%
$88,529
Cap Rate 9%
$68,856
Alternative Uses
Best Use
Office B
$88.5K
$77.5K – $103.3K
NOI $6,197 @ 7.0% cap · market cap 38,731.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$122.2K
$106.9K – $142.6K
NOI $8,554 @ 7.0% cap · market cap 53,462.50%
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 unit - A compact office workspace in a mixed-tenant downtown complex near City Hall and area highways.
Where is this office unit located?
The property is located at 1319-1323 Main St Unit 360 Springfield, MA.
What are key features of this property?
This property features: Approximately 450 SF on the third floor; Market Place tenants include the Springfield Regional Visitor Center, Springfield Business Improvement District, Mocha Trade Coffee Company, Nosh Cafe, and Minuteman Press; Downtown Springfield location near City Hall and area highways
