Corner Lot Office Building with
5 Barber St Springfield, MA 01109
New
For Sale
Contact for pricing
Freestanding office building with paved parking, large yard, four private offices/bedrooms, and an unfinished basement with laundry hookups.
Property Size1,647 SF
Price / SF$181.54
Days on Market4
Property Features for 5 Barber St
General Information
- Standard status
- Active
- Size
- 1,647 SF
- Property subtype
- OFFICE
Listing Agency:
Pioneer CRE
(413) 459-0570
Listed By:
Paul Bongiorni · License #REB.0793882
Source:
Moodyscre
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 26 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 Pioneer CRE
Investment Insights
Based on property information with market context.
This corner lot office building includes a large front area, a kitchen, and four private offices/bedrooms with 1.5 bathrooms. The property also has an unfinished basement with laundry hookups. Improvements reported include plumbing, windows, and HVAC (with ductwork) replaced in 2023, along with newer roof shingles and gutters.
The building sits on the corner of Barber Street and Boston Road in Springfield, MA, with a paved parking area and a large yard. High visibility is noted in the remarks.
The former office building was most recently used as single-family residential. Child care/day care or other uses may be allowed, subject to Dover Amendment site plan review and other applicable regulations.
The building sits on the corner of Barber Street and Boston Road in Springfield, MA, with a paved parking area and a large yard. High visibility is noted in the remarks.
The former office building was most recently used as single-family residential. Child care/day care or other uses may be allowed, subject to Dover Amendment site plan review and other applicable regulations.
Key Highlights
- 1,690 SF former office building on the corner of Barber Street and Boston Road
- Paved parking area plus a large yard
- Four private offices/bedrooms and 1.5 bathrooms
Financial Insights For Office B
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 | $35.6k | $21.60 |
| − Vacancy | −$5.3k | −$3.24 |
| EGI | $30.2k | $18.36 |
| − OpEx | −$7.6k | −$4.59 |
| NOI | $22.7k | $13.77 |
1,647 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.2K
$391.3K – $521.8K
NOI $31,306 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Freestanding office building with paved parking, large yard, four private offices/bedrooms, and an unfinished basement with laundry hookups.
Where is this office units located?
The property is located at 5 Barber St Springfield, MA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,690 SF former office building on the corner of Barber Street and Boston Road; Paved parking area plus a large yard; Four private offices/bedrooms and 1.5 bathrooms
