Storefront Property with
New
For Sale
$160,000
1648 Carew St, Springfield, MA 01104
Residential A zoning limits the range of business uses for this Springfield storefront.
Property Size575 SF
Price / SF$278.26
Days on Market6
Property Features for 1648 Carew St
General Information
Standard status
Active
Size
575 SF
Property subtype
Commercial
Zoning
Res A
Building Details
Year Built
1927
Listing Agency:
First Place Realty
(413) 734-4300
Listed By:
Stephen Byrne
(413) 537-3518
Source:
Lockandkeyre
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 10:49AM
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 First Place Realty
Investment Insights
Based on property information with market context.
This 1927 storefront building includes on-site parking and a roof installed in 2020. Its recorded Residential A zoning restricts business use, a key consideration for evaluating future occupancy or operations.
The property has served as a grooming business for more than 20 years and is located at 1648 Carew St in Springfield, Massachusetts.
The property has served as a grooming business for more than 20 years and is located at 1648 Carew St in Springfield, Massachusetts.
Key Highlights
- Roof installed in 2020
- Grooming business use spanning more than 20 years
- Zoned Res A, with restricted business use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,665
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$133,300
$133.3K
Cap Rate 7%
$95,214
$95.2K
Cap Rate 9%
$74,056
$74.1K
Market Conditions
NOI Build-Up for 575 SF
Gross rent
$10.4K $18.00/SF
− Vacancy
−$828 −$1.44/SF
EGI
$9.5K $16.56/SF
− OpEx
−$2.9K −$4.97/SF
NOI
$6.7K $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%
$133,300
Cap Rate 7%
$95,214
Cap Rate 9%
$74,056
Alternative Uses
Best Use
Retail
$95.2K
$83.3K – $111.1K
NOI $6,665 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.1K
$136.6K – $182.2K
NOI $10,930 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
Wendy's
Dining
20,003 visits/mo
0.5 miles
Family Dollar
Shops & Services
12,089 visits/mo
0.4 miles
Dunkin' Donuts
Dining
5,696 visits/mo
0.4 miles
Sunoco
Shops & Services
4,321 visits/mo
0.3 miles
M&T Bank
Shops & Services
2,548 visits/mo
0.4 miles
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Residential A zoning limits the range of business uses for this Springfield storefront.
Where is this storefront property located?
The property is located at 1648 Carew St Springfield, MA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Roof installed in 2020; Grooming business use spanning more than 20 years; Zoned Res A, with restricted business use
