Fourth-Floor Office
For Sale
Contact for pricing
1365 Main St Unit 404, Springfield, MA 01103
A reception area and multiple private offices provide a defined layout for professional office use.
Property Size900 SF
Price / SF$0.02
Days on Market13
Property Features for 1365 Main St Unit 404
General Information
Standard status
Active
Size
900 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 5:48AM
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 of Market Place, this office suite measures approximately 900 SF. Its layout includes a reception area at the entrance and several separate offices, providing a mix of shared and private workspace.
Market Place is in downtown Springfield and includes retail, restaurant, and professional office tenants. The building dates to 1860.
Market Place is in downtown Springfield and includes retail, restaurant, and professional office tenants. The building dates to 1860.
Key Highlights
- Approximately 900 SF on the fourth floor
- Reception area with several private offices
- Market Place includes retail, restaurant, and professional office tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,393
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,860
$247.9K
Cap Rate 7%
$177,043
$177.0K
Cap Rate 9%
$137,700
$137.7K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$19.4K $21.60/SF
− Vacancy
−$2.9K −$3.24/SF
EGI
$16.5K $18.36/SF
− OpEx
−$4.1K −$4.59/SF
NOI
$12.4K $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%
$247,860
Cap Rate 7%
$177,043
Cap Rate 9%
$137,700
Alternative Uses
Best Use
Office B
$177.0K
$154.9K – $206.6K
NOI $12,393 @ 7.0% cap · market cap 77,456.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$244.4K
$213.8K – $285.1K
NOI $17,107 @ 7.0% cap · market cap 106,918.75%
Zoning and permitted uses should be independently verified with authorities.
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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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A reception area and multiple private offices provide a defined layout for professional office use.
Where is this office unit located?
The property is located at 1365 Main St Unit 404 Springfield, MA.
What are key features of this property?
This property features: Approximately 900 SF on the fourth floor; Reception area with several private offices; Market Place includes retail, restaurant, and professional office tenants
