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    77,000 SF Rehabilitation Hospital Title is generated by Realmo AI

    14 Chestnut Place, Ludlow, MA 01056

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    Rehabilitation hospital suitable for medical, senior housing, or hotel.

    Type:Office
    Property size:
    77,000 SF
    Lot size:
    0.37 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    73
    Last Refresh:
    Apr 5 at 10:15 pm

    Property Features for 14 Chestnut Place

    General Information

    Standard status
    Active
    Size
    77,000 SF
    Lot size
    0.37 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Jeremy Cyrier, CCIM

    Listing agent Jeremy Cyrier, CCIM License #MA #9048314

    Listing office

    Listing date Mar 5, 2026

    Source Masscommercialproperties

    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 Jeremy Cyrier, CCIM

    HighLights

    • 77,000 +/- SF rehabilitation hospital suitable for medical providers, senior/health services, or redevelopment.
    • Includes a .37 acre parking lot with a 2,400 SF garage.
    • Strategic location: near major highways and within driving distance of Boston, Hartford, and Albany.
    • Value‑add opportunity through increased occupancy.
    • Over $1M in interior renovations completed in 2016‑2017.
    • High walkability score of 82.

    Overview

    The property at 14 Chestnut Place is a 77,000 +/- SF rehabilitation hospital. It is offered in conjunction with a .37 acre parking lot at 58 Sewall Street, improved with a 2,400 SF garage. The property presents an opportunity for medical providers seeking to maximize operational value in the central and western Massachusetts markets, and for re-use as a senior human and health services facility. Potential uses include multifamily housing, senior housing, memory care, assisted living, or a boutique hotel. The building consists of 3 stories and 5 floors. Interior renovations totaling over $1M were completed in 2016-2017. A new 11,400 SF lease has been signed for the third floor. The property has 155 surface parking spaces available and a walkability score of 82, indicating it is very walkable. It is located 6.5 miles east of Springfield, which is home to the Baystate Medical Center’s new $296 Million, 641,000 SF clinical facility. The property is located 70 miles west of Boston, MA, 36 miles north of Hartford, CT, 90 miles east of Albany, NY, .88 miles from the MassPike (90), and 7.2 miles from the I-91/90 interchange. Other potential uses include acute care, substance abuse treatment, and behavioral health services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rehabilitation Hospital W ... Medical Clinic WIC Program Ludlow Social Service Agency Ludlow Hospital Hospital Gandara Center Avadanza Medical Clinic Innovative Renal Care ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ludlow
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.4811
    Latitude
    42.1577

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    FAQs

    What type of property is this?
    Hospital - Rehabilitation hospital suitable for medical, senior housing, or hotel.
    Where is this hospital located?
    The property is located at 14 Chestnut Place Ludlow, MA.
    What are key features of this property?
    This property features: 77,000 +/- SF rehabilitation hospital suitable for medical providers, senior/health services, or redevelopment.; Includes a .37 acre parking lot with a 2,400 SF garage.; Strategic location: near major highways and within driving distance of Boston, Hartford, and Albany.
    (617) 674-2043
    We can help!
    Listing Contact
    Jeremy Cyrier, CCIM
    Real Estate License ID: MA #9048314
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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