Turnkey Medical Office
For Sale
Contact for pricing
532 Sumner Ave, Springfield, MA 01108
Turnkey medical space with income in place from a long-term tenant, featuring strong frontage and ample parking.
Property Size13,000 SF
Price / SF$153.85
Days on Market562
Property Features for 532 Sumner Ave
General Information
Standard status
Active
Size
13,000 SF
Property subtype
RETAIL
Listing Agency:
NAI Advisors - Providence
(401) 214-2434
Listed By:
Mitchell Stepien
(401) 648-6292
Source:
Moodyscre
Added: Mar 4, 2025
Changed: Sep 7
Last Checked: Sep 16 at 8:44PM
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 NAI Advisors - Providence
Investment Insights
Based on property information with market context.
This turnkey medical space is offered For Sale with income in place from a long-term, dependable tenant. The property is configured as a medical space, while the overall presentation and layout are also described as suitable for retail shops, boutique storefronts, service businesses, or specialty dining concepts.
The property is positioned for visibility with excellent frontage and easy accessibility, supported by ample parking. The public remarks also highlight strong daily foot and vehicle traffic to support customer exposure for an owner-occupant or an operating business.
Located at 532 Sumner Ave, Springfield, MA 01108, the property totals 13,000 square feet.
The property is positioned for visibility with excellent frontage and easy accessibility, supported by ample parking. The public remarks also highlight strong daily foot and vehicle traffic to support customer exposure for an owner-occupant or an operating business.
Located at 532 Sumner Ave, Springfield, MA 01108, the property totals 13,000 square feet.
Key Highlights
- Turnkey medical space with income in place from a long‑term tenant.
- Strong frontage in a Springfield commercial district.
- Ample on‑site parking.
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
$179,010
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
8.95%
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%
$3,580,200
$3.6M
Cap Rate 7%
$2,557,286
$2.6M
Cap Rate 9%
$1,989,000
$2.0M
Market Conditions
NOI Build-Up for 13,000 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
$280.8K $21.60/SF
− Vacancy
−$42.1K −$3.24/SF
EGI
$238.7K $18.36/SF
− OpEx
−$59.7K −$4.59/SF
NOI
$179.0K $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 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%
$3,580,200
Cap Rate 7%
$2,557,286
Cap Rate 9%
$1,989,000
Alternative Uses
Best Use
Healthcare Medical
$2.64M
$2.31M – $3.09M
NOI $185,141 @ 7.0% cap · market cap 9.26%
Second Best
Office B
$2.56M
$2.24M – $2.98M
NOI $179,010 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,104 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical space with income in place from a long-term tenant, featuring strong frontage and ample parking.
Where is this medical office space located?
The property is located at 532 Sumner Ave Springfield, MA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Turnkey medical space with income in place from a long‑term tenant.; Strong frontage in a Springfield commercial district.; Ample on‑site parking.
