Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    299 Carew St #134 Springfield, MA 1104

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $329,900

    1,063 sq ft office condo near Mercy Hospital.

    Type:Commercial
    Property size:
    1,063 SF
    Added:
    Apr 25, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 25 at 6:33 am

    Property Features for 299 Carew St #134

    General Information

    Standard status
    Active
    Size
    1,063 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1991

    We can help!

    Listing Contact
    Fallah Razzak
    Fallah Razzak

    Listing agent Fallah Razzak License #9525064

    Listing office Lock and Key Realty Inc.

    Listing date Apr 25, 2026

    Source Liongatere

    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 Lock and Key Realty Inc.

    Overview

    Spacious Office Condo Near Hospital

    This 1,063 sq. ft. office condo is located at 299 Carew St, Suite 134 in Springfield. The open-concept office features a flexible layout and one full bathroom. It is located in Mercy Hospital Medical Center and offers ample parking space. The property is suitable for professionals or business use.
    Location Intelligence

    Current Use by Public Records

    Robert H Osofsky ... Physician Pediatric Care Associates Pediatrician Trinity Health Of New ... Physician Dr. John Griggs Physician David G Doctor ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5932137
    Latitude
    42.1158772

    Nearby Similar for Sale

    • $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
    • $415,000
      3,163 SF

      Turnkey Springfield Multifamily Property

      Two-family property with renovated unit and long-term tenant.
      15 Malden St, 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
    • $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
    • $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
    • $975,000
      3,507 SF

      Corner Lot Retail/Office Property

      Retail/office property on a busy corner with high visibility.
      908 Allen St, Springfield, MA
      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
    • $2,500
      5,600 SF

      Springfield Warehouse and Office Space

      Warehouse and office spaces available in Springfield Industrial Park.
      357 Cottage Street, Springfield, MA 01104
      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
    • $599,000
      6,375 SF

      Downtown Springfield Retail and Restaurant

      Retail and restaurant space in downtown Springfield.
      1021 Main St, Springfield, MA 01103
      View Details

    FAQs

    What type of property is this?
    Office units - 1,063 sq ft office condo near Mercy Hospital.
    Where is this office units located?
    The property is located at 299 Carew St #134 Springfield, MA.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Generously sized 1,063 sq. ft. office condo.; Convenient location in Mercy Hospital Medical Center.; Flexible, open‑concept layout.
    (413) 885-0093
    We can help!
    Listing Contact
    Fallah Razzak
    Fallah Razzak
    Real Estate License ID: 9525064
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!