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    1522-1534 Boston Rd, Springfield, MA 01129 Springfield, MA 01129

    • Retail residential properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 1522-1534 Boston Rd, Springfield, MA 01129

    Year built
    1970
    Property type
    Retail residential properties

    Description

    ABOUT THE PROPERTY Lowe's Plaza is a 66,000 SF shopping center located in East Springfield. The center is anchored by Lowe's, Liquors 44, and Stop & Shop. Dedicated Turn Lane Pylon Sign Signage Signalized Intersection

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    State
    Massachusetts
    Longitude
    -72.497
    Latitude
    42.1411

    Comparable in this City

    • Value Estimation
      $1,935,000
      17,876 SF

      21 Tinkham Rd, Unit 49

      OFFICE/RESIDENTIAL (MIXED USE) • 17,876 SF
      21 Tinkham Rd, Springfield, MA 01129-1932
      View Details
    • Value Estimation by Request
      1,664 SF

      248 Laconia St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,664 SF
      248 Laconia St, Springfield, MA 01129-1113
      View Details
    • Value Estimation
      $570,000
      2,184 SF

      107 Laconia St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,184 SF
      107 Laconia St, Springfield, MA 01129-1110
      View Details
    • Value Estimation by Request
      5,320 SF

      199 Laconia St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,320 SF
      199 Laconia St, Springfield, MA 01129-1110
      View Details
    • Value Estimation by Request
      1,645 SF

      21 Drury St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,645 SF
      21 Drury St, Springfield, MA 01129-1213
      View Details
    • Value Estimation by Request
      1,125 SF

      73 Verge St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,125 SF
      73 Verge St, Springfield, MA 01129-1120
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Established Restaurant Business and Property

      Profitable Golden Corral franchise with real estate for sale.
      436 Parker St, Springfield, MA 01129
      View Details
    • $3,990,000
      9,000 SF

      Springfield Retail Portfolio: Triple Net Lease

      High-Yield Retail Investment in Springfield, MA
      1349 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      2,304 SF

      Springfield Retail Property For Sale

      2,304 SF retail property in Sixteen Acres neighborhood.
      1930 Wilbraham Rd, Springfield, MA 01129
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Springfield Plaza

      Retail space available in a busy shopping center.
      1522 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      15,292 SF

      Freestanding Building in Prime Location

      15,292 SF freestanding building available for lease or ground lease.
      1440 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      366,417 SF

      Springfield Crossing Retail Center

      Massive Retail Space Available in Springfield, MA
      1655 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      25,207 SF

      Lowe's Plaza: Springfield Retail Space

      Prime Springfield Retail Opportunity: 25,207 SF Available
      1522 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      2,652 SF

      Freestanding Building With Drive-Thru

      Freestanding building with drive-thru, multiple uses allowed.
      1780 Boston Rd, Springfield, MA 01129
      View Details
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    Springfield, MA 01129
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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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