Fourth-Floor Office
For Sale
Contact for pricing
1365 Main St Unit 401, Springfield, MA 01103
A multi-room layout combines open work areas with a kitchenette in a downtown office setting.
Property Size2,125 SF
Price / SF$0.01
Days on Market13
Property Features for 1365 Main St Unit 401
General Information
Standard status
Active
Size
2,125 SF
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Additional Details
Floor
4
Property Use
Office
Building Details
Year Built
1860
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
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Investment Insights
Based on property information with market context.
Located on the fourth floor at Market Place in downtown Springfield, this office suite offers approximately 2,125 square feet. Its layout includes multiple rooms, open areas, and a small kitchenette. Large windows bring in natural light and face Market Street.
Market Place includes retail, restaurant, and professional office tenants.
Market Place includes retail, restaurant, and professional office tenants.
Key Highlights
- Approximately 2,125 SF on the fourth floor
- Layout includes multiple rooms, open areas, and a kitchenette
- Large windows overlook Market Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,261
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,220
$585.2K
Cap Rate 7%
$418,014
$418.0K
Cap Rate 9%
$325,122
$325.1K
Market Conditions
NOI Build-Up for 2,125 SF
Gross rent
$45.9K $21.60/SF
− Vacancy
−$6.9K −$3.24/SF
EGI
$39.0K $18.36/SF
− OpEx
−$9.8K −$4.59/SF
NOI
$29.3K $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%
$585,220
Cap Rate 7%
$418,014
Cap Rate 9%
$325,122
Alternative Uses
Best Use
Office B
$418.0K
$365.8K – $487.7K
NOI $29,261 @ 7.0% cap · market cap 209,007.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$577.0K
$504.9K – $673.2K
NOI $40,392 @ 7.0% cap · market cap 288,514.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,829
Businesses Nearby
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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 - A multi-room layout combines open work areas with a kitchenette in a downtown office setting.
Where is this office unit located?
The property is located at 1365 Main St Unit 401 Springfield, MA.
What are key features of this property?
This property features: Approximately 2,125 SF on the fourth floor; Layout includes multiple rooms, open areas, and a kitchenette; Large windows overlook Market Street
