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    1361 Memorial Dr Chicopee, MA 01022

    Sponsored
    For Sale
    $1,100,000

    Prime retail space, high traffic location.

    Property size:
    2,604 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,604 square foot Class A office/retail space is available for $1,100,000. Located at 1361 Memorial Drive in Chicopee, Massachusetts (zip code 01022), this single-story building sits on a one-acre lot and offers ample parking. Previously used as a veterinary office, this versatile property is perfectly suited for a variety of retail or service-oriented businesses. Its prime location on a busy retail corridor, at a signalized intersection, ensures high visibility and accessibility. The property benefits from its proximity to numerous national brands including Walgreens, CVS, Planet Fitness, and others, creating a thriving commercial ecosystem with consistent foot traffic. The building was constructed in 2001 and is zoned Prof Bldg C (111A). The asking price per square foot is $422.43, and the lease type is NNN. The property is currently vacant. Chicopee is the second-largest city in Western Massachusetts, offering a strong population base (over 153,000 residents within a 5-mile radius) with an average household income exceeding $64,000. This presents a significant opportunity for long-term growth and investment potential within a rapidly developing area. This property offers excellent street presence and strong daily traffic counts, making it an ideal location for businesses seeking high visibility and accessibility.

    Property Features for 1361 Memorial Dr

    General Information

    Property type
    Medical offices
    Square Feet
    2,604 SF
    Class
    A

    Building Details

    Stories
    1

    HighLights

    • Prime Chicopee location, strong Springfield MSA connection, excellent infrastructure, and high consumer traffic.
    • High‑density demographics: 153,000+ residents within 5 miles, average household income exceeding $64,000.
    • Thriving retail corridor with national brands like Walgreens, CVS, and Planet Fitness.
    • High‑visibility location on Memorial Drive, a major thoroughfare with high daily traffic counts.
    • Strong long‑term investment potential due to location and diverse tenant base.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.575058090603
    Latitude
    42.194807210551

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    FAQs

    What type of property is this?
    Medical office - Prime retail space, high traffic location.
    Where is this medical office located?
    The property is located at 1361 Memorial Dr Chicopee, MA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Prime Chicopee location, strong Springfield MSA connection, excellent infrastructure, and high consumer traffic.; High-density demographics: 153,000+ residents within 5 miles, average household income exceeding $64,000.; Thriving retail corridor with national brands like Walgreens, CVS, and Planet Fitness.
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    1361 Memorial Dr Chicopee, MA 01022
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    Realmo Value Estimation

    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.

    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.

    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
    1361 Memorial Dr Chicopee, MA 01022
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