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Property profile & analytics
FOR LEASE
Medical Office Space
101 Wason Ave, Springfield, MA 01107
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US38-2145515
For Lease
1 / 8
$1,945,000
101 Wason Ave, Springfield, MA 01107
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Property summary
AI-generated overview
This exceptional Springfield, MA office property at 101 Wason Ave offers 14,725 square feet of immediately available, fully built-out space on the second floor. The 32,148 square foot building, constructed in 2013, features a flexible layout ideal for multiple tenants. The suite includes approximately 18 private offices, an open office area, two conference rooms, a kitchenette, and a waiting area, providing a complete and efficient workspace. The property sits on a 2.5-acre lot and benefits from ample on-site parking, a significant advantage for employees and clients. Its location provides easy access to major highways, including the Massachusetts Turnpike, ensuring convenient commuting. The property is zoned I2, offering versatility for various business needs. This is a rare opportunity to secure high-quality, move-in ready office space in a prime Springfield location. The total building size is 32,148 square feet, with 14,725 square feet currently vacant. The property is located in Hampden County, MA, with a Springfield zip code of 01107.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2013
Total area
48,222 SF
Lot
2.59 ac (112,864 SF)
Zoning code
I2
APN
SPRI S:12030 P:0066
UPID
US38-2145515
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pioneer Valley Information Exchange (PVIX) Physician
-
Commonwealth Care Alliance Charitable Organization Social Service Agency
-
Fallon Health Geriatric Care Provider
-
Laurinda Bilyeu Physician
-
Pioneer Valley Accountable Care, LLC Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.95M
Owner & transaction history
101 Wason Avenue LLC · 8 yrs held
101 Wason Avenue LLC
since 2017
2 recorded transactions
Zoning & alternative use
I2 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.9M
+34.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,175,000
Current use
RETAIL STORES
$2,925,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.75M – $2.14M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$40 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$373,522
Tax year 2023
Assessed value
$10,261,600
Assessed 2023
Previous assessed
$10,261,600
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$769,400
Assessed improvement
$9,492,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2013
Heating
FORCED AIR
Buildings
1
Stories
3
Total area
48,222 SF
Lot
2.59 ac (112,864 SF)
Zoning code
I2
APN
SPRI S:12030 P:0066
UPID
US38-2145515
Jurisdiction
SPRINGFIELD
Zoning & alternative use
I2 · Springfield, MA
Zoning I2 · permitted uses
I2 · Springfield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Springfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RETAIL STORES
Est. value
$2.9M
MEDICAL BUILDING Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Heating
FORCED AIR
Stories
3
Buildings
1
Lot
2.59 ac
Current owner
From public records · entity-resolved
101 Wason Avenue LLC
Entity
Mailing address
800 KELLY WAY, HOLYOKE, MA 01040-9616
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2017
$12,387,500
101 Wason Avenue LLC
Yukon Group LLC
Quit Claim Deed
$8,671,250 · Florence Bank
Jul 14, 2008
$200,000
Yukon Group LLC
Dill,b John
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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