Second-Floor Office
For Sale
Contact for pricing
73 Chestnut St # 7, Springfield, MA 01103
Compact professional suite in a historic downtown building near Springfield Museums.
Property Size248 SF
Price / SF$0.10
Days on Market574
Property Features for 73 Chestnut St # 7
General Information
Standard status
Active
Size
248 SF
Property subtype
Commercial
Zoning
B3
Additional Details
Floor
second floor
Taxes and HOA fees
Annual Taxes
$18,215
Amenities
beautiful common areas
Building Details
Building Size
248 SF
Year Built
1899
Listing Agency:
Pioneer CRE
(413) 312-9299
Listed By:
Paul Bongiorni · License #9575704
(413) 459-0570
Source:
Churchillprop
Added: Mar 25, 2025
Changed: Oct 6
Last Checked: Oct 19 at 5:23AM
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
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Investment Insights
Based on property information with market context.
This 248-square-foot office unit occupies a single room on the second floor of the Rose Cottage Professional Building, a historic office property constructed in 1899. The building offers shared common areas and a quiet professional setting suited to an individual office user.
Located at 73 Chestnut St in downtown Springfield, the property sits beside the Springfield Museums campus and near dining, businesses, and other downtown attractions. The setting also benefits from pedestrian and vehicle activity. The property carries B3 zoning.
Located at 73 Chestnut St in downtown Springfield, the property sits beside the Springfield Museums campus and near dining, businesses, and other downtown attractions. The setting also benefits from pedestrian and vehicle activity. The property carries B3 zoning.
Key Highlights
- 248‑square‑foot single‑room office unit
- Second‑floor location in a historic office building
- Rose Cottage Professional Building constructed in 1899
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,415
Suggested Prices Based on Cap Rates
Cap Rate 5%
$68,300
$68.3K
Cap Rate 7%
$48,786
$48.8K
Cap Rate 9%
$37,944
$37.9K
Market Conditions
NOI Build-Up for 248 SF
Gross rent
$5.4K $21.60/SF
− Vacancy
−$804 −$3.24/SF
EGI
$4.6K $18.36/SF
− OpEx
−$1.1K −$4.59/SF
NOI
$3.4K $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%
$68,300
Cap Rate 7%
$48,786
Cap Rate 9%
$37,944
Alternative Uses
Best Use
Office B
$48.8K
$42.7K – $56.9K
NOI $3,415 @ 7.0% cap · market cap 14,229.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$67.3K
$58.9K – $78.6K
NOI $4,714 @ 7.0% cap · market cap 19,641.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,004
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Compact professional suite in a historic downtown building near Springfield Museums.
Where is this office unit located?
The property is located at 73 Chestnut St # 7 Springfield, MA.
What are key features of this property?
This property features: 248‑square‑foot single‑room office unit; Second‑floor location in a historic office building; Rose Cottage Professional Building constructed in 1899
