Renovated Multifamily
For Sale
$449,900
32-34 Vermont St, Springfield, MA 01108
Vacant, updated property near transit, shopping, schools, medical facilities, Forest Park, and major highways.
Property Size2,939 SF
Price / SF$153.08
Days on Market59
Property Features for 32-34 Vermont St
General Information
Standard status
Active
Size
2,939 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Building Size
2,939 SF
Year Built
1920
Listing Agency:
Century 21 North East
(603) 893-8230
Listed By:
Alexander Baez
(978) 397-3337
Source:
Iverty
Added: Aug 20
Changed: Oct 16
Last Checked: Oct 16 at 9:00AM
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 Century 21 North East
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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.
Located at 32-34 Vermont Street, this multifamily property was built in 1920 and has undergone a complete renovation. The residence is vacant and features updated living spaces with modern finishes, allowing prospective buyers to evaluate the property in its current condition.
The property is situated in Springfield’s Forest Park neighborhood, with public transportation, shopping, restaurants, schools, medical facilities, Forest Park, and major highways nearby. WalkScore is 89, indicating a very walkable setting; BikeScore is 55, and TransitScore is 59.
The property is situated in Springfield’s Forest Park neighborhood, with public transportation, shopping, restaurants, schools, medical facilities, Forest Park, and major highways nearby. WalkScore is 89, indicating a very walkable setting; BikeScore is 55, and TransitScore is 59.
Key Highlights
- Complete renovation with updated living spaces and modern finishes
- Vacant property at 32‑34 Vermont St, Springfield, MA 01108
- Located in Springfield’s Forest Park neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,698
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,960
$774.0K
Cap Rate 7%
$552,829
$552.8K
Cap Rate 9%
$429,978
$430.0K
Market Conditions
NOI Build-Up for 2,939 SF
Gross rent
$74.1K $25.20/SF
− Vacancy
−$3.7K −$1.26/SF
EGI
$70.4K $23.94/SF
− OpEx
−$31.7K −$10.77/SF
NOI
$38.7K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,960
Cap Rate 7%
$552,829
Cap Rate 9%
$429,978
Alternative Uses
Best Use
Apartment 5plus
$552.8K
$483.7K – $645.0K
NOI $38,698 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.1K
$698.3K – $931.1K
NOI $55,865 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Vacant, updated property near transit, shopping, schools, medical facilities, Forest Park, and major highways.
Where is this multifamily property located?
The property is located at 32-34 Vermont St Springfield, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Complete renovation with updated living spaces and modern finishes; Vacant property at 32‑34 Vermont St, Springfield, MA 01108; Located in Springfield’s Forest Park neighborhood
