Versatile Retail/Service Space in
1361 Memorial Dr Chicopee, MA 01022
1361 Memorial Dr, Chicopee, MA, 01022
Contact for pricing
For Sale
Contact for pricing
2,604 SF space on 1-acre lot in busy area.
Property Size2,604 SF
Lot Size1.00 Acre
Price / SF$230.03
Days on Market617
Property Features for 1361 Memorial Dr
General Information
- Standard status
- Active
- Size
- 2,604 SF
- Lot size
- 1.00 Acre
- Property subtype
- Office, Retail
Listing Agency
SR Commercial Realty
(413) 750-8040
Listed by
Jeremy Casey · License #9585695
Source
Crexi
Added: Nov 7, 2024 Checked: Jul 17 at 9:32 am
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 SR Commercial Realty
Investment Insights
Based on property information with market context.
Located on Memorial Drive in Chicopee, this 2,604 SF property is situated on a 1-acre lot, offering a strong street presence and ample parking. The location is described as ideal for a retail or service business in Chicopee's busiest area. This property is suitable for retail or service business.
Key Highlights
- Ideal location in Chicopee's busiest area.
- Versatile property suitable for retail or service business.
- 2,604 SF space on a 1‑acre lot.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.5k | $24.00 |
| − Vacancy | −$1.4k | −$0.53 |
| EGI | $61.1k | $23.47 |
| − OpEx | −$18.3k | −$7.04 |
| NOI | $42.8k | $16.43 |
2,604 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,626 @ 7.0% cap · market cap 13.79%
Second Best
Retail
$611.2K
$534.8K – $713.1K
NOI $42,785 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,343 @ 7.0% cap · market cap 18.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - 2,604 SF space on 1-acre lot in busy area.
Where is this retail space located?
The property is located at 1361 Memorial Dr Chicopee, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Ideal location in Chicopee's busiest area.; Versatile property suitable for retail or service business.; 2,604 SF space on a 1‑acre lot.
