Mixed-Use Investment
26-28 Parker Street Springfield, MA 01151
26-28 Parker Street, Springfield, MA, 01151
$689,000
For Sale
$689,000
Mixed-use property with storefronts and residential units for sale.
Property Size1,920 SF
Price / SF$358.85
Days on Market122
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
Listing Agency
Premier Choice Realty
Listed by
Pablo Ottenwalder
(617) 731-4644
Source
Hammondre
Added: Mar 20 Checked: Jul 19 at 7:12 am
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
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.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.1k | $24.00 |
| − Vacancy | −$4.6k | −$2.40 |
| EGI | $41.5k | $21.60 |
| − OpEx | −$15.6k | −$8.10 |
| NOI | $25.9k | $13.50 |
1,920 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 3.76%
Second Best
Retail
$318.0K
$278.2K – $371.0K
NOI $22,257 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
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.
