Flexible Retail and Office
For Sale
$325,000
148 River St, West Springfield, MA 01089
Multi-room building with full bathroom, kitchen area, second-floor room, and basement storage on a large lot.
Property Size1,064 SF
Price / SF$305.45
Days on Market335
Property Features for 148 River St
General Information
Standard status
Active
Size
1,064 SF
Property subtype
Commercial
Zoning
BB-1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,260
Building Details
Building Size
1,064 SF
Year Built
1870
Listing Agency:
Pioneer CRE
(413) 312-9299
Listed By:
Paul Bongiorni · License #9575704
(413) 459-0570
Source:
Churchillprop
Added: Nov 18, 2025
Changed: Oct 6
Last Checked: Oct 19 at 5:24AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flexible retail or office building is offered for sale with a multi-room layout and several distinct interior spaces. The building includes a full bathroom with shower, a kitchen area, a second-floor room, and basement storage, supporting a range of occupancy options.
The property is situated on River Street and is described as minutes from the Big E/Eastern States Exposition fairgrounds. The listing notes a large lot and the possibility of additional parking income.
BB-1 zoning is cited as allowing a multitude of uses with Special Permit/Site Plan Review. The stated purpose of the BB-1 District is to provide a higher density area for a mix of industrial, multifamily residential, and limited commercial uses.
The property is situated on River Street and is described as minutes from the Big E/Eastern States Exposition fairgrounds. The listing notes a large lot and the possibility of additional parking income.
BB-1 zoning is cited as allowing a multitude of uses with Special Permit/Site Plan Review. The stated purpose of the BB-1 District is to provide a higher density area for a mix of industrial, multifamily residential, and limited commercial uses.
Key Highlights
- Flexible retail or office building with several large rooms, a full bathroom with shower, a kitchen area, a second‑floor room, and basement storage
- Situated on busy River Street, minutes from the Big E/Eastern States Exposition fairgrounds
- Large lot included, offering room for additional parking (potential for parking income is noted)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,482
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,640
$349.6K
Cap Rate 7%
$249,743
$249.7K
Cap Rate 9%
$194,244
$194.2K
Market Conditions
NOI Build-Up for 1,064 SF
Gross rent
$25.5K $24.00/SF
− Vacancy
−$562 −$0.53/SF
EGI
$25.0K $23.47/SF
− OpEx
−$7.5K −$7.04/SF
NOI
$17.5K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,640
Cap Rate 7%
$249,743
Cap Rate 9%
$194,244
Alternative Uses
Best Use
Office B
$482.3K
$422.0K – $562.7K
NOI $33,761 @ 7.0% cap · market cap 10.39%
Second Best
Retail
$249.7K
$218.5K – $291.4K
NOI $17,482 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$655.8K
$573.8K – $765.1K
NOI $45,904 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
Median Home Value
Check the figures for this property
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?
Retail space - Multi-room building with full bathroom, kitchen area, second-floor room, and basement storage on a large lot.
Where is this retail space located?
The property is located at 148 River St West Springfield, MA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Flexible retail or office building with several large rooms, a full bathroom with shower, a kitchen area, a second‑floor room, and basement storage; Situated on busy River Street, minutes from the Big E/Eastern States Exposition fairgrounds; Large lot included, offering room for additional parking (potential for parking income is noted)
