Mixed-Use Investment
For Sale
$684,000
26-28 Parker St, Springfield, MA 01151
Mixed-use property with storefronts and residential units for sale.
Property Size1,920 SF
Price / SF$356.25
Days on Market172
Property Features for 26-28 Parker St
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
B1
Net Operating Income
$55,356
Taxes and HOA fees
Annual Taxes
$7,443
Building Details
Building Size
1,920 SF
Year Built
1920
Stories
5
Listing Agency:
Premier Choice Realty
(413) 200-8642
Listed By:
Pablo Ottenwalder
(305) 851-1979
Source:
Churchillprop
Added: Apr 28
Changed: Oct 6
Last Checked: Oct 16 at 7:18AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,920
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,400
$518.4K
Cap Rate 7%
$370,286
$370.3K
Cap Rate 9%
$288,000
$288.0K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$46.1K $24.00/SF
− Vacancy
−$4.6K −$2.40/SF
EGI
$41.5K $21.60/SF
− OpEx
−$15.6K −$8.10/SF
NOI
$25.9K $13.50/SF
Area
Springfield, MA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,400
Cap Rate 7%
$370,286
Cap Rate 9%
$288,000
Alternative Uses
Best Use
Mixed Use
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 3.79%
Second Best
Retail
$318.0K
$278.2K – $371.0K
NOI $22,257 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
7,379 visits/mo
0.1 miles
Family Dollar
Shops & Services
7,151 visits/mo
0.3 miles
Citizens Bank
Shops & Services
3,267 visits/mo
0.2 miles
Gulf Oil
Shops & Services
1,013 visits/mo
0.3 miles
Demographics for 01151, MA
9,150
Population
3,959
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
77%
High-School Grad
2.4 sq mi
ZIP Area
3,813
Density / Sq Mi
$57,113
Median Household Income
$39,117
Median Earnings
$1,239
Median Rent
$219,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
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 St Springfield, MA.
What is the asking price?
The asking price for this property is $684,000.
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.
