Retail Strip Center on
16-24 Arnold Ave Springfield Springfield, MA 01119
For Sale
$979,000
Retail strip center on busy Boston Road Rt 20.
Property Size6,350 SF
Price / SF$154.17
Days on Market72
Property Features for 16-24 Arnold Ave Springfield
General Information
- Standard status
- Active
- Size
- 6,350 SF
Building Details
- Year Built
- 1980
Listing Agency:
(508) 501-1443
Listed By:
Crystal Silva
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 16
Changed: Jul 10
Last Checked: Jul 26 at 3:32AM
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 Crystal Silva
Investment Insights
Based on property information with market context.
This retail strip center is situated on a corner lot along Boston Road, also known as Route 20, in the Pine Point section of Springfield, Massachusetts. The property has a size of 6350 square feet.
Key Highlights
- Retail strip center on busy Boston Road Rt 20.
- Located in Springfield's Pine Point section.
- Corner lot location.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.3k | $18.00 |
| − Vacancy | −$9.1k | −$1.44 |
| EGI | $105.2k | $16.56 |
| − OpEx | −$31.5k | −$4.97 |
| NOI | $73.6k | $11.59 |
6,350 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.05M
$920.1K – $1.23M
NOI $73,609 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,701 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Smoke-Stock & Chimney Cleaning ...
Building Supply
FAQs
What type of property is this?
Strip mall - Retail strip center on busy Boston Road Rt 20.
Where is this strip mall located?
The property is located at 16-24 Arnold Ave Springfield Springfield, MA.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Retail strip center on busy Boston Road Rt 20.; Located in Springfield's Pine Point section.; Corner lot location.
