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    1350 Main St Springfield, MA 01103

    Sponsored
    For Lease
    Contact for pricing

    Class A Office Space, Springfield, MA

    Lot size:
    330,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This prestigious 17-story, Class A office building, One Financial Plaza (also known as the Mass Live Building), offers 330,600 square feet of exceptional office space in downtown Springfield, MA. Currently, 77,588 square feet is available, divisible into units as small as 250 square feet and up to a contiguous 19,195 square feet. The building boasts a stunning three-story glass atrium lobby, five high-speed elevators, and a first-floor Palazzo café. On the ninth floor, tenants enjoy a state-of-the-art fitness center and an art gallery. Additional amenities include 24/7 security and concierge-style service, on-site management, and a park-like setting with outdoor seating. The building's prime location in the Central Business District offers unparalleled access to major transportation arteries, including I-91 (0.3 miles), I-291, I-391, and I-90 (Mass Pike). It's also conveniently located near the MassMutual Center, City Hall, Symphony Hall, MGM's casino, and a new Riverfront Park. Enjoy breathtaking views of the city and the Connecticut River. The building's strategic location at the "Crossroads of New England," between Boston and New York City, and its proximity to Bradley International Airport (25 minutes), Hartford, CT (30 minutes), and Boston (90 minutes), make it an ideal location for businesses of all sizes. Abundant and affordable parking is available nearby. Executive penthouse suites are available, move-in ready, with private stairs and elevators and multiple terraces offering outstanding views.

    Property Features for 1350 Main St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    330,600 SF
    Class
    A

    Building Details

    Stories
    17

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    19,195 SF
    Space
    Available Space 6
    Size
    1,888 SF
    Space
    Available Space 8
    Size
    3,174 SF
    Space
    Available Space 11
    Size
    990 SF
    Space
    Available Space 12
    Size
    2,445 SF
    Space
    Available Space 13
    Size
    1,044 SF
    Space
    Available Space 14
    Size
    2,534 SF
    Space
    Available Space 15
    Size
    2,211 SF
    Space
    Available Space 16
    Size
    250 SF
    Space
    Available Space 3
    Size
    3,310 SF
    Space
    Available Space 7
    Size
    3,400 SF
    Space
    Available Space 9
    Size
    18,422 SF
    Space
    Available Space 10
    Size
    15,626 SF
    Space
    Available
    Size
    3,099 SF

    We can help!

    Listing Contact
    Jim Reardon
    Jim Reardon

    Learn more

    Property Insight Report

    HighLights

    • 900‑40,000 square feet of Class A office space available for lease.
    • Executive penthouse suite available, move‑in ready, with private stairs and elevator.
    • Multiple terraces with outstanding city and river views.
    • 24‑hour onsite security and management.
    • First‑floor café.
    • State‑of‑the‑art fitness center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Milone & MacBroom, Inc. Engineering Consultant Court Square Group Computer Consultant MassDevelopment Economic Development Agency J.M. O'Brien & Company Financial Planner Siddall & Siddall PC Attorney

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5895174
    Latitude
    42.1018724

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office Space, Springfield, MA
    Where is this office property / space located?
    The property is located at 1350 Main St Springfield, MA.
    What are key features of this property?
    This property features: 900-40,000 square feet of Class A office space available for lease.; Executive penthouse suite available, move-in ready, with private stairs and elevator.; Multiple terraces with outstanding city and river views.
    Request Owner's contact information
    1350 Main St Springfield, MA 01103
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    Springfield, MA 01103
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    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
    1350 Main St Springfield, MA 01103
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    We can help!
    Listing Contact
    Jim Reardon
    Jim Reardon
    Real Estate License ID: MA 9564256
    Learn more
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