Third-Floor Office
For Sale
Contact for pricing
1365 Main St Unit 340, Springfield, MA 01103
A multi-room workspace includes open areas and a kitchenette in a downtown Springfield building.
Property Size2,000 SF
Price / SF$0.01
Days on Market13
Property Features for 1365 Main St Unit 340
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Amenities
kitchenette
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 5:43AM
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.
Located on the third floor of Market Place, this office suite offers approximately 2,000 square feet arranged with multiple rooms, open areas, and a kitchenette. Large windows face Main Street, bringing natural light into the workspace.
Market Place is a downtown Springfield property with retail, restaurant, and professional office tenants. The building dates to 1860.
Market Place is a downtown Springfield property with retail, restaurant, and professional office tenants. The building dates to 1860.
Key Highlights
- Approximately 2,000 SF on the third floor
- Multiple rooms, open areas, and a kitchenette
- Large windows facing Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,540
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,800
$550.8K
Cap Rate 7%
$393,429
$393.4K
Cap Rate 9%
$306,000
$306.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$43.2K $21.60/SF
− Vacancy
−$6.5K −$3.24/SF
EGI
$36.7K $18.36/SF
− OpEx
−$9.2K −$4.59/SF
NOI
$27.5K $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%
$550,800
Cap Rate 7%
$393,429
Cap Rate 9%
$306,000
Alternative Uses
Best Use
Office B
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 172,125.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 237,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A multi-room workspace includes open areas and a kitchenette in a downtown Springfield building.
Where is this office unit located?
The property is located at 1365 Main St Unit 340 Springfield, MA.
What are key features of this property?
This property features: Approximately 2,000 SF on the third floor; Multiple rooms, open areas, and a kitchenette; Large windows facing Main Street
