Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land on Riverdale Title is generated by Realmo AI

    605 Riverdale St, West Springfield, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3.02 acre commercial land for rent on Riverdale Street.

    Type:LAND
    Lot size:
    3.02 Acres
    Added:
    Dec 31, 2024
    Days on Market:
    506
    Last Refresh:
    Apr 5 at 11:09 pm

    Property Features for 605 Riverdale St

    General Information

    Standard status
    Active
    Lot size
    3.02 Acres
    Property subtype
    LAND

    Properties For Sale

    at 605 Riverdale St Contact us

    We can help!

    Listing Contact
    Mitch Bolotin
    Mitch Bolotin

    Listing agent Mitch Bolotin License #MA 9582125

    Listing office Region Commercial

    Listing date Dec 31, 2024

    Source Moodyscre

    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 Region Commercial

    HighLights

    • Located on busy Route 5/Riverdale Street.
    • Proximity to Downtown Springfield, West Springfield.
    • Close proximity to the I‑90/I‑91 interchange.
    • Located near dealerships and national retailers.
    • Approximately 3.02 acre property.
    • $125,000/YR NNN ground rent.

    Overview

    This approximately 3.02-acre property is available for ground rent on Riverdale Street in West Springfield. The property is situated on Route 5/Riverdale Street, near dealerships and national retailers. It is also located in close proximity to Downtown Springfield, West Springfield, and near the I-90/I-91 interchange. The annual ground rent is $125,000 NNN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.625
    Latitude
    42.1224

    Nearby Similar for Sale

    • $325,000

      Retail or Office Building ForSale

      Flexible building with large lot, suitable for retail or office.
      148 River St, West Springfield, MA 01089
      View Details
    • $894,900

      West Springfield Office Building For Sale

      Well-maintained office building with excellent rental history and convenient location.
      1233A Westfield St, West Springfield, MA 01089
      View Details
    • $894,900

      Westfield Street Office Building

      Well-maintained office building with excellent rental history and parking.
      1233A Westfield Street, West Springfield, MA 01089
      View Details
    • $330,000
      1,064 SF

      Retail or Office Building For Sale

      Flexible building on a large lot, suitable for various uses.
      148 River St, West Springfield, MA
      View Details
    • $699,900

      Renovated Three-Family Turnkey Property

      Newly renovated, fully vacant three-family property with modern amenities.
      20 Cottage St, West Springfield, MA 01089
      View Details
    • $500,000
      2,556 SF

      Well-Maintained Multifamily Home

      Multifamily home with spacious units and separate utilities.
      59 Day St, West Springfield, MA 01089
      View Details
    • $500,000

      Well-Maintained Multifamily Home

      Multifamily home with three-bedroom units in a sought-after neighborhood.
      59 Day St, West Springfield, MA 01089
      View Details
    • $450,000

      Updated Two-Family Home with Yard

      Two-family home with updates, fenced yard, and income potential.
      1996 Westfield St, West Springfield, MA 01089
      View Details
    • $650,000

      Fully Rented Commercial Property

      Well-maintained commercial property with existing leases in place.
      3 Century Way, West Springfield, MA 01089
      View Details
    • $975,000

      West Springfield Industrial Property

      Industrial property for sale in West Springfield, Massachusetts.
      190-194 New Bridge St, West Springfield, MA
      View Details
    • $650,000

      Fully Rented Multifamily Property

      Multifamily property with good transit and walkable location.
      3 Century Way, West Springfield, MA 01089
      View Details
    • $575,000
      8,042 SF

      8,042 SF office building

      8,042 SF office building in West Springfield, Massachusetts.
      120 Westfield St, West Springfield, MA 01089
      View Details

    FAQs

    What type of property is this?
    Land - 3.02 acre commercial land for rent on Riverdale Street.
    Where is this land located?
    The property is located at 605 Riverdale St West Springfield, MA.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Located on busy Route 5/Riverdale Street.; Proximity to Downtown Springfield, West Springfield.; Close proximity to the I‑90/I‑91 interchange.
    (413) 537-2020 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mitch Bolotin
    Mitch Bolotin
    Real Estate License ID: MA 9582125
    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

    Thank You for Inquiry
    605 Riverdale St, West Springfield, MA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!