Corner Automotive
For Sale
$489,900
288 Allen St, Springfield, MA 01108
B1-zoned facility with a transferable roof warranty, frontage, and on-site parking.
Property Size1,913 SF
Price / SF$256.09
Days on Market293
Property Features for 288 Allen St
General Information
Standard status
Active
Size
1,913 SF
Property subtype
Commercial
Zoning
B1
Taxes and HOA fees
Annual Taxes
$8,759
Amenities
transferable warranty
Building Details
Building Size
1,913 SF
Year Built
1976
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Nov 12, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:34PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This automotive shop occupies a corner position with frontage and on-site parking. The building includes a roof covered by a transferable warranty, adding a documented feature for future ownership or occupancy planning.
Zoned B1, the property is located at 288 Allen St in Springfield, Massachusetts. An established laundromat occupies the adjacent property, providing a defined neighboring commercial use.
Zoned B1, the property is located at 288 Allen St in Springfield, Massachusetts. An established laundromat occupies the adjacent property, providing a defined neighboring commercial use.
Key Highlights
- Corner‑site automotive shop with frontage and on‑site parking
- Transferable roof warranty included
- B1 zoning
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
$22,175
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
4.53%
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%
$443,500
$443.5K
Cap Rate 7%
$316,786
$316.8K
Cap Rate 9%
$246,389
$246.4K
Market Conditions
NOI Build-Up for 1,913 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
$34.4K $18.00/SF
− Vacancy
−$2.8K −$1.44/SF
EGI
$31.7K $16.56/SF
− OpEx
−$9.5K −$4.97/SF
NOI
$22.2K $11.59/SF
Area
Springfield, MA
Vacancy
8.00%
Lease Rate
$18.00 /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%
$443,500
Cap Rate 7%
$316,786
Cap Rate 9%
$246,389
Alternative Uses
Best Use
Retail
$316.8K
$277.2K – $369.6K
NOI $22,175 @ 7.0% cap · market cap 4.53%
Second Best
Industrial
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$519.5K
$454.5K – $606.0K
NOI $36,362 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
87k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Home Improvements & Furnishings 11%
Dining 9%
Electronics 1%
Dollar Tree
Shops & Services
13,724 visits/mo
0.2 miles
Rocky's Ace Hardware
Home Improvements & Furnishings
9,906 visits/mo
0.1 miles
Valero Energy
Shops & Services
9,322 visits/mo
0.5 miles
Santander Bank
Shops & Services
8,223 visits/mo
0.4 miles
TD Bank
Shops & Services
7,575 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A N J Truck Tire Service and Roadside Assistance — 11 Trafton Rd, Springfield, MA 01108
- Felix Auto Body — 76 Lansing Pl, Springfield, MA 01108
- Katt Wheelz — 62 Alderman St, Springfield, MA 01108
- Felix's Auto Repair & Towing — 914 Sumner Ave, Springfield, MA 01118
- Western Mass Auto Glass Inc — 237 Dickinson St, Springfield, MA 01108
Frequently Asked Questions
What type of property is this?
Auto shop - B1-zoned facility with a transferable roof warranty, frontage, and on-site parking.
Where is this auto shop located?
The property is located at 288 Allen St Springfield, MA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Corner‑site automotive shop with frontage and on‑site parking; Transferable roof warranty included; B1 zoning
