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289-307 Bridge St Unit 293, Springfield, MA 01103
Office space in Springfield occupies part of a building constructed in 1923.
Property Size2,220 SF
Price / SF$1.13
Days on Market4
Property Features for 289-307 Bridge St Unit 293
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Commercial
Site & Location
Neighborhood
Metro Center
Additional Details
Property Use
Office
Building Details
Year Built
1923
Listing Agency:
SR Commercial Realty
Listed By:
Jeremy Casey · License #9585695
(413) 459-4535
Source:
Lockandkeyre
Added: Oct 29
Changed: Oct 31
Last Checked: Nov 1 at 5:21AM
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 SR Commercial Realty
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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.
The office unit at 293 Bridge Street contains approximately 2,220 square feet. It is part of a building constructed in 1923 and is located in Springfield, Massachusetts.
Key Highlights
- Approximately 2,220 SF of office space
- Building constructed in 1923
- Located at 293 Bridge Street in Springfield, Massachusetts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,569
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,380
$611.4K
Cap Rate 7%
$436,700
$436.7K
Cap Rate 9%
$339,656
$339.7K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$48.0K $21.60/SF
− Vacancy
−$7.2K −$3.24/SF
EGI
$40.8K $18.36/SF
− OpEx
−$10.2K −$4.59/SF
NOI
$30.6K $13.77/SF
Area
Springfield, MA
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,380
Cap Rate 7%
$436,700
Cap Rate 9%
$339,656
Alternative Uses
Best Use
Office B
$436.7K
$382.1K – $509.5K
NOI $30,569 @ 7.0% cap · market cap 1,222.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$602.8K
$527.5K – $703.3K
NOI $42,198 @ 7.0% cap · market cap 1,687.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 01103, MA
2,545
Population
1,728
Households
1.5
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
0.4 sq mi
ZIP Area
6,363
Density / Sq Mi
$21,458
Median Household Income
$38,156
Median Earnings
$1,053
Median Rent
$148,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office space in Springfield occupies part of a building constructed in 1923.
Where is this office unit located?
The property is located at 289-307 Bridge St Unit 293 Springfield, MA.
What are key features of this property?
This property features: Approximately 2,220 SF of office space; Building constructed in 1923; Located at 293 Bridge Street in Springfield, Massachusetts
