Commercial Land with Existing
For Sale
$325,000
523 James Street, Chicopee, MA 01020
Existing improvements can be rehabilitated or removed to support a new commercial development.
Property Size1,488 SF
Price / SF$218.41
Days on Market174
Property Features for 523 James Street
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Commercial
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 531-8889
Listed By:
Authier LaDuke Team
(413) 665-3771
Source:
Cbcommunityrealtors
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 29 at 11:02AM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
This commercial land offering includes an existing structure that can be rehabilitated for business use or removed for redevelopment. The site supports multiple potential configurations, including a new commercial building or a drive-thru facility, subject to city approval.
Located at 523 James St in Chicopee, the property is identified along Memorial Drive/Rt 33 and is adjacent to CVS. The seller is an established builder willing to pursue a build-to-suit office building or rehabilitation of the existing structure. Attached plot plan and front elevation images illustrate possible configurations.
Located at 523 James St in Chicopee, the property is identified along Memorial Drive/Rt 33 and is adjacent to CVS. The seller is an established builder willing to pursue a build-to-suit office building or rehabilitation of the existing structure. Attached plot plan and front elevation images illustrate possible configurations.
Key Highlights
- Existing structure can be rehabilitated or removed
- Adjacent to CVS
- Located on Memorial Drive/Rt 33
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
$24,448
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
7.52%
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%
$488,960
$489.0K
Cap Rate 7%
$349,257
$349.3K
Cap Rate 9%
$271,644
$271.6K
Market Conditions
NOI Build-Up for 1,488 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
$35.7K $24.00/SF
− Vacancy
−$786 −$0.53/SF
EGI
$34.9K $23.47/SF
− OpEx
−$10.5K −$7.04/SF
NOI
$24.4K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /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%
$488,960
Cap Rate 7%
$349,257
Cap Rate 9%
$271,644
Alternative Uses
Best Use
Retail
$349.3K
$305.6K – $407.5K
NOI $24,448 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$917.1K
$802.5K – $1.07M
NOI $64,196 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
129k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 34%
Groceries 20%
Apparel 5%
Price Rite
Groceries
25,309 visits/mo
0.1 miles
McDonald's
Dining
24,348 visits/mo
0.3 miles
Taco Bell
Dining
20,184 visits/mo
0.3 miles
Ocean State Job Lot
Shops & Services
19,387 visits/mo
0.3 miles
Cumberland Farms
Shops & Services
9,474 visits/mo
0.4 miles
Demographics for 01020, MA
29,781
Population
14,154
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
2,382
Density / Sq Mi
$70,971
Median Household Income
$45,378
Median Earnings
$1,153
Median Rent
$259,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Existing improvements can be rehabilitated or removed to support a new commercial development.
Where is this commercial land located?
The property is located at 523 James Street Chicopee, MA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Existing structure can be rehabilitated or removed; Adjacent to CVS; Located on Memorial Drive/Rt 33
