Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mixed-Use Investment Opportunity Title is generated by Realmo AI

    26-28 Parker Street, Springfield, MA 01151

    View on Map
    Claim this Listing
    For Sale
    $689,000

    Mixed-use property with storefronts and residential units for sale.

    Type:Multi-family
    Property size:
    1,920 SF
    Price / SF:
    $358/SF
    Added:
    Apr 24, 2026
    Days on Market:
    38
    Last Refresh:
    May 28 at 1:59 am

    Property Features for 26-28 Parker Street

    General Information

    Standard status
    Active
    Size
    1,920 SF
    Property subtype
    Multi-family

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Pablo Ottenwalder

    Listing office Premier Choice Realty

    Listing date Apr 24, 2026

    Source Hammondre

    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 Premier Choice Realty

    HighLights

    • Multiple income streams from two storefronts and five residential units.
    • High gross building area of approximately 9,494 square feet.
    • Mixed‑use property with both commercial and residential spaces.
    • Separate two‑family building in the rear.
    • Three residential units above the commercial space.
    • Hardwood floors in all residential units.

    Overview

    This mixed-use property presents a significant investment opportunity, featuring a total gross building area of approximately 9,494 square feet. The property includes two storefronts, three residential units located above the commercial space, and a separate two-family building at the rear, offering multiple income streams and long-term tenant stability. The left storefront is equipped with a large display window and two spacious rooms, and is heated by oil. The right storefront features a prominent display window and an open layout, and is heated by gas. The residential units above the storefronts include a three-bedroom, one-bath unit with oil heat, hardwood floors, and a rear porch; a vacant two-bedroom, one-bath unit with gas heat, hardwood floors, and both rear and side porches; and a one-bedroom, one-bath unit with gas heat, hardwood floors, and a porch. The separate two-family building in the rear comprises a three-bedroom, one-bath unit with a front porch and gas heat, and a two-bedroom, one-bath unit also with a front porch and gas heat. The property size is 1920 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.488159
    Latitude
    42.1551933

    Nearby Similar for Sale

    • $425,000
      3,432 SF

      Updated Three-Family Home in Springfield

      Updated three-family property near Forest Park, ideal for investors.
      42 Hall St, Springfield, MA 01108
      View Details
    • $539,900
      2,560 SF

      New Construction Springfield Duplex

      New construction duplex in Forest Park, Springfield, built in 2026.
      63-65 Euclid Ave, Springfield, MA 01108
      View Details
    • $339,000
      3,278 SF

      Springfield Multifamily Investment Opportunity

      Two-family home with income potential and expansion possibilities.
      32 Wendell Pl, Springfield, MA 01105
      View Details
    • $284,900
      2,720 SF

      Springfield Two-Family Investment Opportunity

      Two-family property with strong rental potential near amenities.
      1045-1047 Worcester St, Springfield, MA 01151
      View Details
    • $349,900
      2,328 SF

      Two-Family Home with Finished Attic

      Well-maintained two-family home with long-term tenants and finished attic.
      907-909 Liberty St, Springfield, MA 01104
      View Details
    • $499,000
      5,140 SF

      Mixed-Use Property in Commercial Corridor

      5,140 SF mixed-use property in a high-traffic commercial area.
      939 E Columbus Ave, Springfield, MA 01105
      View Details
    • $399,000
      2,488 SF

      Multi-Family Home on Cul-de-Sac

      Multi-family home ideal for multi-generational living or income.
      19-21 Wedgewood Cir, Springfield, MA 01129
      View Details
    • $599,000

      Springfield Retail Investment Opportunity

      Two Main Street properties with established tenants in downtown Springfield.
      982 Main St, Springfield, MA 01103
      View Details
    • $450,000
      4,826 SF

      Three-Story Commercial Building with Bar

      4,826 SF commercial building with bar, event space, kitchen.
      21-23 Hampden Street, Springfield, MA 01103
      View Details
    • $599,000

      Downtown Springfield Retail and Restaurant

      Retail and restaurant property in downtown Springfield for sale.
      1021 Main St, Springfield, MA 01103
      View Details
    • $299,000
      2,710 SF

      Office, Retail, or Medical Space

      2,710 SF space suitable for office, retail, or medical use.
      34 Sumner Avenue, Springfield, MA 01108
      View Details
    • $1,075,000
      4,326 SF

      Office Building on High-Traffic Artery

      4,326 SF office building with development potential on 1.26 acres.
      1205-1211 Boston Road, Springfield, MA 01119
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with storefronts and residential units for sale.
    Where is this mixed-use property located?
    The property is located at 26-28 Parker Street Springfield, MA.
    What is the asking price?
    The asking price for this property is $689,000.
    What are key features of this property?
    This property features: Multiple income streams from two storefronts and five residential units.; High gross building area of approximately 9,494 square feet.; Mixed‑use property with both commercial and residential spaces.
    We can help!
    Listing Contact
    Pablo Ottenwalder
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    26-28 Parker Street, Springfield, MA 01151
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!