Convenience Store Property with
24-26 Fort Pleasant Ave, Springfield, MA 01108
For Sale
$399,000
An open interior is supported by updated electrical and plumbing, with a basement office for additional functional space.
Property Size2,024 SF
Days on Market85
Property Features for 24-26 Fort Pleasant Ave
General Information
Standard status
Size
Lease Term
Site & Location
Neighborhood
Highway Access
Amenities
security cameras
basement with office
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 567-8931
Listed By:
Anthony Racco
(413) 348-8464
Source:
Iverty
Added: Aug 17
Changed: Nov 8
Last Checked: Nov 8 at 7:00AM
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 Coldwell Banker Realty - Western MA
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2024, this convenience store property has an open interior, updated electrical and plumbing, and a usable basement that includes an office. Video security cameras are in place, and the property is zoned B1 as a legal-conforming use.
The building at 24-26 Fort Pleasant Ave has on-street parking and is close to downtown and I-91 access. The property was previously operated as a convenience store.
The building at 24-26 Fort Pleasant Ave has on-street parking and is close to downtown and I-91 access. The property was previously operated as a convenience store.
Key Highlights
- Built in 2024
- Open interior with updated electrical and plumbing
- Usable basement includes an office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,105
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,100
$542.1K
Cap Rate 7%
$387,214
$387.2K
Cap Rate 9%
$301,167
$301.2K
Market Conditions
NOI Build-Up for 2,024 SF
Gross rent
$38.9K $19.20/SF
− Vacancy
−$2.7K −$1.34/SF
EGI
$36.1K $17.86/SF
− OpEx
−$9.0K −$4.46/SF
NOI
$27.1K $13.39/SF
Area
Springfield, MA
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,100
Cap Rate 7%
$387,214
Cap Rate 9%
$301,167
Alternative Uses
Best Use
Specialty Retail
$387.2K
$338.8K – $451.8K
NOI $27,105 @ 7.0% cap · market cap 6.79%
Second Best
Retail
$335.2K
$293.3K – $391.0K
NOI $23,462 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$549.6K
$480.9K – $641.2K
NOI $38,472 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
80k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 45%
Hotels & Casinos 8%
McDonald's
Dining
28,284 visits/mo
0.2 miles
Sunoco
Shops & Services
12,977 visits/mo
0.3 miles
UNO Pizzeria & Grill
Dining
9,249 visits/mo
0.4 miles
Family Dollar
Shops & Services
6,818 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,869 visits/mo
0.3 miles
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
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
Similar Off Market Nearby
- Food Zone International Supermarket — 355 Belmont Ave, Springfield, MA 01108
- People's Supermarket — 24 Fort Pleasant Ave, Springfield, MA 01108
- La Zona Supermarket — 26 Fort Pleasant Ave, Springfield, MA 01108
- Southend Supermarket Inc — 590 Main St, Springfield, MA 01105
- Latino's Cuisine Supermarket — 590 Main St, Springfield, MA 01105
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - An open interior is supported by updated electrical and plumbing, with a basement office for additional functional space.
Where is this grocery and convenience store located?
The property is located at 24-26 Fort Pleasant Ave Springfield, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Built in 2024; Open interior with updated electrical and plumbing; Usable basement includes an office
