Second-Floor Professional Office
For Sale
Contact for pricing
1847 Memorial Dr Unit 2B, Chicopee, MA 01020
Compact office setting with utilities included and on-site parking available.
Property Size160 SF
Price / SF$2.03
Days on Market50
Property Features for 1847 Memorial Dr Unit 2B
General Information
Standard status
Active
Size
160 SF
Property subtype
Commercial
Additional Details
Floor
Second Floor
Amenities
utilities included
on-site parking
Building Details
Year Built
1987
Listing Agency:
NextHome Elite Realty
(413) 391-1969
Listed By:
Chad Lynch · License #9629420
(413) 330-7343
Source:
Lockandkeyre
Added: Aug 31
Changed: Oct 16
Last Checked: Oct 19 at 9:24AM
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 NextHome Elite Realty
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Investment Insights
Based on property information with market context.
This second-floor office unit provides approximately 160 square feet of professional workspace at 1847 Memorial Dr in Chicopee. The property was built in 1987 and offers a practical setting for a small business or individual professional.
Utilities are included, and on-site parking is available. An adjoining 130-square-foot office can also be added for users who need more room. The property is positioned along Memorial Drive in Chicopee, Massachusetts.
Utilities are included, and on-site parking is available. An adjoining 130-square-foot office can also be added for users who need more room. The property is positioned along Memorial Drive in Chicopee, Massachusetts.
Key Highlights
- Approximately 160 square feet of second‑floor office space
- Utilities included
- On‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,077
Suggested Prices Based on Cap Rates
Cap Rate 5%
$101,540
$101.5K
Cap Rate 7%
$72,529
$72.5K
Cap Rate 9%
$56,411
$56.4K
Market Conditions
NOI Build-Up for 160 SF
Gross rent
$8.7K $54.24/SF
− Vacancy
−$1.9K −$11.93/SF
EGI
$6.8K $42.31/SF
− OpEx
−$1.7K −$10.58/SF
NOI
$5.1K $31.73/SF
Area
Hampden County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$101,540
Cap Rate 7%
$72,529
Cap Rate 9%
$56,411
Alternative Uses
Best Use
Office B
$72.5K
$63.5K – $84.6K
NOI $5,077 @ 7.0% cap · market cap 1,562.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$98.6K
$86.3K – $115.1K
NOI $6,903 @ 7.0% cap · market cap 2,124.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 01020, MA
29,781
Population
14,154
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
2,382
Density / Sq Mi
$70,971
Median Household Income
$45,378
Median Earnings
$1,153
Median Rent
$259,100
Median Home Value
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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?
Office unit - Compact office setting with utilities included and on-site parking available.
Where is this office unit located?
The property is located at 1847 Memorial Dr Unit 2B Chicopee, MA.
What are key features of this property?
This property features: Approximately 160 square feet of second‑floor office space; Utilities included; On‑site parking available
