Multi-Tenant Retail with Parking
For Sale
Contact for pricing
982 Main St, Springfield, MA 01105
Retail building with three tenants and included off-street parking parcels totaling 6,098 sq ft.
Property Size4,590 SF
Price / SF$130.50
Days on Market357
Property Features for 982 Main St
General Information
Standard status
Active
Size
4,590 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
BHHS - Realty Professionals | Feeding Hills
(413) 568-2405
Listed By:
Rula Baki · License #452512182
(413) 883-2406
Source:
Moodyscre
Added: Oct 22, 2025
Changed: Oct 12
Last Checked: Oct 12 at 10:07PM
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 BHHS - Realty Professionals | Feeding Hills
Investment Insights
Based on property information with market context.
Multi-tenant retail property offered at 982 Main St, Springfield, MA 01105, including 974-976 Main St. The space is currently rented by three established tenants.
The offering also includes two parcels of land on Wilcox Street designated for parking. Combined, the parking parcels total approximately 6,098 sq. ft. The property is listed with a total size of 4,590 sq. ft.
In addition, 1021 Main Street is also for sale (MLS #73323738), which creates the option to purchase the properties as a package or separately.
The offering also includes two parcels of land on Wilcox Street designated for parking. Combined, the parking parcels total approximately 6,098 sq. ft. The property is listed with a total size of 4,590 sq. ft.
In addition, 1021 Main Street is also for sale (MLS #73323738), which creates the option to purchase the properties as a package or separately.
Key Highlights
- Three established tenants currently renting the retail space
- Includes 982 Main St and 974‑976 Main St in Springfield, MA
- Two Wilcox Street land parcels designated for parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,207
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,064,140
$1.1M
Cap Rate 7%
$760,100
$760.1K
Cap Rate 9%
$591,189
$591.2K
Market Conditions
NOI Build-Up for 4,590 SF
Gross rent
$82.6K $18.00/SF
− Vacancy
−$6.6K −$1.44/SF
EGI
$76.0K $16.56/SF
− OpEx
−$22.8K −$4.97/SF
NOI
$53.2K $11.59/SF
Area
Springfield, MA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,064,140
Cap Rate 7%
$760,100
Cap Rate 9%
$591,189
Alternative Uses
Best Use
Retail
$760.1K
$665.1K – $886.8K
NOI $53,207 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,247 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,467
Businesses Nearby
120k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 19%
Leisure 18%
Hotels & Casinos 8%
Regal MGM Springfield
Leisure
22,010 visits/mo
0.1 miles
Starbucks
Dining
18,583 visits/mo
0.1 miles
Burger King
Dining
16,461 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,451 visits/mo
0.2 miles
UNO Pizzeria & Grill
Dining
9,249 visits/mo
0.4 miles
Demographics for 01105, MA
12,051
Population
5,554
Households
2.2
Avg Household Size
33
Median Age
8%
College-Educated
64%
High-School Grad
1.2 sq mi
ZIP Area
10,043
Density / Sq Mi
$22,994
Median Household Income
$24,078
Median Earnings
$976
Median Rent
$238,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with three tenants and included off-street parking parcels totaling 6,098 sq ft.
Where is this retail space located?
The property is located at 982 Main St Springfield, 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: Three established tenants currently renting the retail space; Includes 982 Main St and 974‑976 Main St in Springfield, MA; Two Wilcox Street land parcels designated for parking
