Third-Floor Office
For Sale
Contact for pricing
1365 Main St Unit 310, Springfield, MA 01103
A multi-room workspace in Market Place includes open areas and a kitchenette.
Property Size2,500 SF
Price / SF$0.01
Days on Market13
Property Features for 1365 Main St Unit 310
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Additional Details
Floor
3
Property Use
Office
Amenities
large sunny windows
small kitchenette area
Building Details
Year Built
1860
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 5:31AM
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 third floor of Market Place in downtown Springfield, this office suite spans approximately 2,500 square feet. Its layout combines several enclosed rooms with open workspace and a compact kitchenette. Large windows face Market Street, bringing natural light into the suite.
Market Place has retail, restaurant, and professional office tenants, placing the office within a mixed-use downtown property.
Market Place has retail, restaurant, and professional office tenants, placing the office within a mixed-use downtown property.
Key Highlights
- Approximately 2,500 SF on the third floor
- Layout includes multiple rooms, open areas, and a kitchenette
- Large windows overlook Market Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,425
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,500
$688.5K
Cap Rate 7%
$491,786
$491.8K
Cap Rate 9%
$382,500
$382.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$54.0K $21.60/SF
− Vacancy
−$8.1K −$3.24/SF
EGI
$45.9K $18.36/SF
− OpEx
−$11.5K −$4.59/SF
NOI
$34.4K $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%
$688,500
Cap Rate 7%
$491,786
Cap Rate 9%
$382,500
Alternative Uses
Best Use
Office B
$491.8K
$430.3K – $573.8K
NOI $34,425 @ 7.0% cap · market cap 215,156.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 297,000.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,829
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A multi-room workspace in Market Place includes open areas and a kitchenette.
Where is this office unit located?
The property is located at 1365 Main St Unit 310 Springfield, MA.
What are key features of this property?
This property features: Approximately 2,500 SF on the third floor; Layout includes multiple rooms, open areas, and a kitchenette; Large windows overlook Market Street
