Technical
Financial
Distress signals
Property profile

1033 Thorndike St 1059 Palmer, MA 01069

OFF-MARKET
Super regional malls
Property ID
US38-1060093
23,480 SF 2.06 ac lot Built 1967
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail opportunity is located in the highly visible Palmer Plaza, a well-maintained property boasting over 10,209 cars passing daily. The space totals 4,307 square feet and is available as a sublease, offering flexible options from a minimum of 1,200 contiguous square feet up to a maximum of 3,107 contiguous square feet. A significant portion (1,211 square feet) is already attractively built out, while the remaining 1,900 square feet provides raw space with existing plumbing and electrical, ready for customization. The landlord is willing to complete a build-out for a suitable tenant. This single-story building features modern health and safety systems, including sprinklers. The space includes a small back room and a private bathroom, and boasts ample plumbing throughout. A beer and wine license is included with the lease. The property's prime corner location ensures maximum visibility and accessibility, making it ideal for a variety of retail businesses. The zoning is business. This is a rare opportunity to secure a well-positioned retail space in a high-traffic area with a responsive landlord.

Property profile

Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1967
Construction STEEL FRAME
Total area 23,480 SF
Lot 2.06 ac (89,734 SF)
Zoning code VC1
APN PALM M:58 B:44
UPID US38-1060093

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

1033 Thorndike St, Unit 1059 Palmer, MA 01069-1504
Palmer metro Census 810100 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$3.22M
CAP Approach CAP
$4.67M
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.48M

Owner & transaction history

since 2021
Last sale
$3.6M
3 recorded transactions
2021
$3.6M
2013
Price N/A
2001
$2.0M

Zoning & alternative use

VC1 · Palmer, MA
Zoning description

It is the purpose of this bylaw to allow for the orderly and planned development of Palmer downtown area.

General category PLANNED_DEVELOPMENT
Top alternative use upside
Restaurant $2.5M +279.2%
Retail stores $2.4M +267.7%
Commercial (general) $2.3M +255.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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