Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    883 Alden Street Springfield, MA 1109

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    Retail space with office and warehouse for lease.

    Property size:
    3,400 SF
    Added:
    Apr 22, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 22 at 12:21 pm

    Property Features for 883 Alden Street

    General Information

    Standard status
    Active
    Size
    3,400 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Carl Perella
    Carl Perella

    Listing agent Carl Perella License #9018160

    Listing office Perella Real Estate

    Listing date Apr 22, 2026

    Source Liongatere

    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 Perella Real Estate

    Overview

    Retail, Office, and Warehouse Space

    This property features a mixed-use layout, including retail, office, and warehouse components. The street-level retail area spans 1,400 square feet, complemented by a 2,000-square-foot lower-level warehouse. The warehouse is accessible via a drive-in overhead door. The total area of the property is 3,400 square feet.
    Location Intelligence

    Current Use by Public Records

    Bassett Yacht & Boat ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5420561
    Latitude
    42.1127753

    Nearby Similar for Lease

    • $14 SF/Yr

      Downtown Springfield Office Space Available

      Office spaces for lease in downtown Springfield, convenient location.
      1380 Main Street, Springfield, MA 01103
      View Details
    • $21 SF/Yr

      Retail Space in Busy Center

      Retail space available in a busy commercial center.
      16-24 Arnold Ave, Springfield, MA 01119
      View Details
    • $21 SF/Yr

      Downtown Springfield Office Space Available

      Office space for lease in downtown Springfield near MGM Casino.
      1095 Main Street , Springfield , MA 01103
      View Details
    • $350/Mo

      Downtown Springfield Office Spaces Available

      Office spaces for rent in downtown Springfield, from 155-2700 SF.
      20 Maple Street, Springfield, MA 01103
      View Details
    • $3,000/Mo

      Medical/Office Space in Springfield, MA

      2,657 SF medical/office space for sale or lease.
      299 Carew Street, Springfield, MA 01104
      View Details
    • Sponsored
      Contact for pricing

      MA, Springfield - Main St

      1500 Main St, Unit 8TH, Springfield, MA 01115
      View Details
    • $16 SF/Yr

      Springfield Office Space For Lease

      8,000 SF office space available near I-291.
      66 Industry Ave, Springfield, MA 01104
      View Details
    • $1,000/Mo

      Versatile Commercial Unit in Springfield

      1,000 sq ft commercial unit suitable for various businesses.
      26-28 Parker St, Springfield, MA 01151
      View Details
    • $1,000/Mo

      Versatile Commercial Unit in Springfield

      1,000 sq ft commercial unit suitable for office, retail, creative.
      26-28 Parker St, Springfield, MA 01151
      View Details
    • $12 SF/Yr

      6,000 SF Retail Space

      6,000 SF retail space in high visibility area.
      665 Liberty Street, Springfield, MA 01104
      View Details
    • $17 SF/Yr

      Restaurant Space in Maple Office Park

      Second-generation restaurant space for lease in Springfield, Massachusetts.
      128-148 Maple St #front, Springfield, MA 01103
      View Details
    • $1,100/Mo

      Downtown Springfield Office Suite For Rent

      Office suite in downtown Springfield near MGM and Square One School.
      924-934 Main St, Springfield, MA
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Retail space with office and warehouse for lease.
    Where is this mixed-use property located?
    The property is located at 883 Alden Street Springfield, MA.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 3400 sq ft total space with 1400 sq ft retail and 2000 sq ft warehouse; Full basement warehouse featuring a drive‑in overhead door; Street‑level retail space
    (413) 531-5030
    We can help!
    Listing Contact
    Carl Perella
    Carl Perella
    Real Estate License ID: 9018160
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!