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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Memorial Dr Chicopee, MA 01020

    • Commercial real estate
    • 2.69 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Memorial Dr

    Year built
    1900
    Lot size
    2.69 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.69-acre commercial lot, situated on highly desirable Memorial Drive (Route 33) in Chicopee, Massachusetts, presents a unique investment opportunity. Boasting over 600 feet of frontage and multiple curb cuts, this property offers unparalleled visibility and accessibility for a wide range of commercial ventures. The city has approved plans for a hotel or gas station development, and preliminary plans for a 15,000 square foot retail building are available. This prime location provides significant advantages for businesses seeking high traffic exposure. The expansive lot allows for ample parking and potential for future expansion. The existing zoning allows for a variety of uses, making it an ideal site for developers seeking a flexible and strategically located property. Its prominent position on Memorial Drive ensures strong brand recognition and easy customer access. This is a rare opportunity to acquire a substantial parcel of land in a thriving Chicopee location with significant development potential. Serious inquiries are encouraged to explore the possibilities of this exceptional commercial property. The property's size and location make it an attractive proposition for investors seeking a high-return investment in a rapidly developing area. The existing approvals streamline the development process, minimizing delays and maximizing the potential for a swift return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5818
    Latitude
    42.1617

    Comparable in this City

    • Value Estimation by Request
      1.51 Acres

      610 Memorial Dr

      COMMERCIAL (GENERAL) • 1.51 Acres
      610 Memorial Dr, Chicopee, MA 01020-5019
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    • Value Estimation by Request
      3.76 Acres

      90 Champion Dr

      COMMERCIAL (GENERAL) • 3.76 Acres
      90 Champion Dr, Chicopee, MA 01020-2833
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    • Value Estimation by Request
      30.45 Acres

      444 Montgomery St

      COMMERCIAL (GENERAL) • 30.45 Acres
      444 Montgomery St, Chicopee, MA 01020-1969
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    • Value Estimation by Request
      1,200 SF

      5 Mccarthy Ave

      SHOW ROOM, WAREHOUSE • 1,200 SF
      5 Mccarthy Ave, Chicopee, MA 01020-4205
      View Details
    • Value Estimation
      $510,000
      4,296 SF

      377 Montgomery St

      SHOW ROOM, WAREHOUSE • 4,296 SF
      377 Montgomery St, Chicopee, MA 01020-1929
      View Details
    • Value Estimation
      $1,800,000
      2.14 Acres

      499 Montgomery St

      COMMERCIAL (GENERAL) • 2.14 Acres
      499 Montgomery St, Chicopee, MA 01020-1929
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Restaurant space for lease with high traffic visibility.
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      2,604 SF

      Single Tenant Building For Lease

      Single tenant building, formerly a veterinary clinic, available for lease.
      1361 Memorial Dr, Chicopee, MA 01020
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    Memorial Dr
    Chicopee, MA 01020
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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
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