Ninth-Floor Office
For Sale
Contact for pricing
1387-1391 Main St Unit 900, Springfield, MA 01103
Office space occupies the ninth floor of a building with passenger and freight elevators.
Property Size8,165 SF
Price / SF$0.00
Days on Market13
Property Features for 1387-1391 Main St Unit 900
General Information
Standard status
Active
Size
8,165 SF
Elevators
Yes
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Additional Details
Floor
9
Property Use
Office
Building Details
Year Built
1915
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 4:34AM
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.
The ninth-floor office space at Harrison Place totals 8,165 square feet. The building, constructed in 1915, has both passenger and freight elevators serving the office floor.
The property is at 1387-1391 Main St in Springfield, Massachusetts, with views of downtown Springfield.
The property is at 1387-1391 Main St in Springfield, Massachusetts, with views of downtown Springfield.
Key Highlights
- 8,165 square feet of office space
- Ninth‑floor location in Harrison Place
- Passenger and freight elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,432
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,248,640
$2.2M
Cap Rate 7%
$1,606,171
$1.6M
Cap Rate 9%
$1,249,244
$1.2M
Market Conditions
NOI Build-Up for 8,165 SF
Gross rent
$176.4K $21.60/SF
− Vacancy
−$26.5K −$3.24/SF
EGI
$149.9K $18.36/SF
− OpEx
−$37.5K −$4.59/SF
NOI
$112.4K $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%
$2,248,640
Cap Rate 7%
$1,606,171
Cap Rate 9%
$1,249,244
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.87M
NOI $112,432 @ 7.0% cap · market cap 936,933.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,200 @ 7.0% cap · market cap 1,293,333.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office space occupies the ninth floor of a building with passenger and freight elevators.
Where is this office unit located?
The property is located at 1387-1391 Main St Unit 900 Springfield, MA.
What are key features of this property?
This property features: 8,165 square feet of office space; Ninth‑floor location in Harrison Place; Passenger and freight elevator access
