Leased Multi-Tenant Flex
New
For Sale
$1,500,000
152 Center Street, Chicopee, MA 01013
Fully leased flex property with updated rooftop units and a separate paved parking lot.
Property Size20,000 SF
Lot Size0.38 Acres
Price / SF$75
Days on Market7
Property Features for 152 Center Street
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
25
Lot size
0.38 Acres
Property subtype
Office
Occupancy
100%
Net Operating Income
$129,707
Financials
Asking Price
$1,500,000
Cap Rate
8.65%
Building Details
Buildings
1
Building Size
20,000 SF
Tenancy
Multi
Listing Agency:
(413) 732-9150
Listed By:
John Reed
(413) 732-9150
Source:
Cbre
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 20 at 6:24AM
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 John Reed
Investment Insights
Based on property information with market context.
The offering includes a 20,000 SF flex and office building at 152 Center Street in Chicopee, Massachusetts. The multi-tenant property is fully leased and includes updated rooftop units, supporting a combination of flex and office occupancy.
Also included is a 0.38-acre paved lot at 0 Center Street with 25 parking spaces. The property is offered as a combined building and lot package, providing an operating flex asset with dedicated paved parking.
Also included is a 0.38-acre paved lot at 0 Center Street with 25 parking spaces. The property is offered as a combined building and lot package, providing an operating flex asset with dedicated paved parking.
Key Highlights
- 20,000 SF fully leased flex and office building
- Multi‑tenant configuration at 152 Center Street
- Updated rooftop units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$106,814
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,136,280
$2.1M
Cap Rate 7%
$1,525,914
$1.5M
Cap Rate 9%
$1,186,822
$1.2M
Market Conditions
NOI Build-Up for 20,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$163.2K $8.16/SF
− Vacancy
−$10.6K −$0.53/SF
EGI
$152.6K $7.63/SF
− OpEx
−$45.8K −$2.29/SF
NOI
$106.8K $5.34/SF
Area
Hampden County, MA
Vacancy
6.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,136,280
Cap Rate 7%
$1,525,914
Cap Rate 9%
$1,186,822
Alternative Uses
Best Use
Office B
$9.07M
$7.93M – $10.58M
NOI $634,608 @ 7.0% cap · market cap 42.31%
Second Best
Flex RnD
$3.67M
$3.21M – $4.28M
NOI $256,932 @ 7.0% cap · market cap 17.13%
Theoretical Best
Office A
$12.33M
$10.79M – $14.38M
NOI $862,848 @ 7.0% cap · market cap 57.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased flex property with updated rooftop units and a separate paved parking lot.
Where is this flex space located?
The property is located at 152 Center Street Chicopee, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 20,000 SF fully leased flex and office building; Multi‑tenant configuration at 152 Center Street; Updated rooftop units
