First-Floor Corner Retail
For Sale
Contact for pricing
16-24 Arnold Ave, Springfield, MA 01119
First-floor corner storefront with on-site retail space built in 1991, with expansion potential to a larger end unit.
Property Size800 SF
Price / SF$0.03
Days on Market232
Property Features for 16-24 Arnold Ave
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Zoning
B1
Lease Type
Gross
Site & Location
Neighborhood
Sixteen Acres
Building Details
Building Size
800 SF
Year Built
1991
Listing Agency:
Perella Real Estate
(413) 525-9800
Listed By:
Carl Perella · License #9018160
(413) 531-5030
Source:
Churchillprop
Added: Mar 16
Changed: Oct 31
Last Checked: Nov 1 at 2:48AM
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 Perella Real Estate
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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.
The property is a first-floor retail storefront located on a corner of Boston Road and Arnold Street. It is part of a busy retail center and next to Ray-more and Flanagan plaza. The current retail space is sized at 800 SF, and the first-floor configuration supports storefront operations.
Built in 1991, the center offers a practical option for tenants who need visibility at a corner location. The layout also allows for potential expansion into a contiguous 1,200 SF space, creating an end unit totaling 2,000 SF.
This flexibility can be useful for retail users looking for room to grow while remaining in the same commercial setting.
Built in 1991, the center offers a practical option for tenants who need visibility at a corner location. The layout also allows for potential expansion into a contiguous 1,200 SF space, creating an end unit totaling 2,000 SF.
This flexibility can be useful for retail users looking for room to grow while remaining in the same commercial setting.
Key Highlights
- First‑floor corner retail storefront at Boston Road and Arnold Street
- Next to Ray‑more and Flanagan plaza
- 800 SF retail space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,274
Suggested Prices Based on Cap Rates
Cap Rate 5%
$185,480
$185.5K
Cap Rate 7%
$132,486
$132.5K
Cap Rate 9%
$103,044
$103.0K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$14.4K $18.00/SF
− Vacancy
−$1.2K −$1.44/SF
EGI
$13.2K $16.56/SF
− OpEx
−$4.0K −$4.97/SF
NOI
$9.3K $11.59/SF
Area
Springfield, MA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$185,480
Cap Rate 7%
$132,486
Cap Rate 9%
$103,044
Alternative Uses
Best Use
Retail
$132.5K
$115.9K – $154.6K
NOI $9,274 @ 7.0% cap · market cap 44,161.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.2K
$190.1K – $253.4K
NOI $15,206 @ 7.0% cap · market cap 72,409.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
156k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 17%
Groceries 16%
Apparel 16%
Price Rite
Groceries
25,606 visits/mo
0.1 miles
Kohl's
Apparel
25,250 visits/mo
0.5 miles
McDonald's
Dining
24,681 visits/mo
0.4 miles
Burger King
Dining
16,021 visits/mo
0.2 miles
Wendy's
Dining
14,796 visits/mo
0.3 miles
Demographics for 01119, MA
14,393
Population
5,517
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
88%
High-School Grad
3.5 sq mi
ZIP Area
4,112
Density / Sq Mi
$59,172
Median Household Income
$45,179
Median Earnings
$1,181
Median Rent
$222,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Storefront property - First-floor corner storefront with on-site retail space built in 1991, with expansion potential to a larger end unit.
Where is this storefront property located?
The property is located at 16-24 Arnold Ave Springfield, MA.
What are key features of this property?
This property features: First‑floor corner retail storefront at Boston Road and Arnold Street; Next to Ray‑more and Flanagan plaza; 800 SF retail space
