Two-Storefront Brick Retail
For Sale
$669,000
1979-1981 Memorial Dr, Chicopee, MA 01020
Solid brick retail building with two storefronts on a major arterial road, one leased and one open-plan suite.
Property Size2,884 SF
Price / SF$231.97
Days on Market265
Property Features for 1979-1981 Memorial Dr
General Information
Standard status
Active
Size
2,884 SF
Property subtype
Commercial
Zoning
111
Site & Location
Traffic Count
60,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$12,803
Building Details
Building Size
2,884 SF
Year Built
1966
Construction
brick
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Dec 16, 2025
Changed: Sep 6
Last Checked: Sep 7 at 5:21AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
Solid brick retail building offering two highly visible storefronts. One unit is leased, providing immediate occupancy, while the second storefront presents an open floor plan suitable for an owner-user or for lease-up.
The property is located on a major arterial road with an approximate 60,000 vehicles per day traffic count, supporting strong street presence. The building also offers easy access and room for signage on the storefronts.
Overall, this is a value-add retail asset structured around a stabilized leased space and a second unit positioned for active repositioning within a high-traffic corridor.
The property is located on a major arterial road with an approximate 60,000 vehicles per day traffic count, supporting strong street presence. The building also offers easy access and room for signage on the storefronts.
Overall, this is a value-add retail asset structured around a stabilized leased space and a second unit positioned for active repositioning within a high-traffic corridor.
Key Highlights
- Solid brick commercial retail building built in 1966 with two highly visible storefronts
- Two storefront spaces: one unit is leased for immediate cash flow
- Second storefront has an open floor plan for an owner‑user or lease‑up opportunity
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,385
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$947,700
$947.7K
Cap Rate 7%
$676,929
$676.9K
Cap Rate 9%
$526,500
$526.5K
Market Conditions
NOI Build-Up for 2,884 SF
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.
Gross rent
$69.2K $24.00/SF
− Vacancy
−$1.5K −$0.53/SF
EGI
$67.7K $23.47/SF
− OpEx
−$20.3K −$7.04/SF
NOI
$47.4K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$947,700
Cap Rate 7%
$676,929
Cap Rate 9%
$526,500
Alternative Uses
Best Use
Retail
$676.9K
$592.3K – $789.8K
NOI $47,385 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,423 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
60,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 12%
Home Improvements & Furnishings 8%
Dollar General
Shops & Services
8,644 visits/mo
0.1 miles
Jiffy Lube
Shops & Services
6,252 visits/mo
0.1 miles
Giovanni's Pizza
Dining
2,584 visits/mo
0.2 miles
The UPS Store
Shops & Services
1,855 visits/mo
0.1 miles
Home Outlet
Home Improvements & Furnishings
1,716 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Solid brick retail building with two storefronts on a major arterial road, one leased and one open-plan suite.
Where is this storefront property located?
The property is located at 1979-1981 Memorial Dr Chicopee, MA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Solid brick commercial retail building built in 1966 with two highly visible storefronts; Two storefront spaces: one unit is leased for immediate cash flow; Second storefront has an open floor plan for an owner‑user or lease‑up opportunity
