Third-Floor Professional Office
For Sale
Contact for pricing
1847 Memorial Dr Unit 3, Chicopee, MA 01020
A compact business suite with included utilities and parking available on site.
Property Size190 SF
Price / SF$1.32
Days on Market50
Property Features for 1847 Memorial Dr Unit 3
General Information
Standard status
Active
Size
190 SF
Property subtype
Commercial
Additional Details
Floor
3
Office Units
1
Amenities
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 9:55AM
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 third-floor office unit at 1847 Memorial Dr in Chicopee provides approximately 190 square feet for professional business use. The property was built in 1987 and offers a straightforward setting for a small office operation, with utilities included and on-site parking available.
A second office measuring approximately 190 square feet is also available on the same floor, allowing the spaces to be used individually or together. The address places the property on Memorial Drive in Chicopee, Massachusetts.
A second office measuring approximately 190 square feet is also available on the same floor, allowing the spaces to be used individually or together. The address places the property on Memorial Drive in Chicopee, Massachusetts.
Key Highlights
- Approximately 190 SF of third‑floor professional office space
- Utilities included
- On‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,029
Suggested Prices Based on Cap Rates
Cap Rate 5%
$120,580
$120.6K
Cap Rate 7%
$86,129
$86.1K
Cap Rate 9%
$66,989
$67.0K
Market Conditions
NOI Build-Up for 190 SF
Gross rent
$10.3K $54.24/SF
− Vacancy
−$2.3K −$11.93/SF
EGI
$8.0K $42.31/SF
− OpEx
−$2.0K −$10.58/SF
NOI
$6.0K $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%
$120,580
Cap Rate 7%
$86,129
Cap Rate 9%
$66,989
Alternative Uses
Best Use
Office B
$86.1K
$75.4K – $100.5K
NOI $6,029 @ 7.0% cap · market cap 2,411.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$117.1K
$102.5K – $136.6K
NOI $8,197 @ 7.0% cap · market cap 3,278.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
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 - A compact business suite with included utilities and parking available on site.
Where is this office unit located?
The property is located at 1847 Memorial Dr Unit 3 Chicopee, MA.
What are key features of this property?
This property features: Approximately 190 SF of third‑floor professional office space; Utilities included; On‑site parking available
