Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1216 Parker St Springfield, MA 01129
    Back to Search
    Property profile & analytics

    1216 Parker St, Springfield, MA 01129

    View on Map
    • Investment properties
    • 8,638 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Dec 1, 2022
    $375,000
    Property ID
    US38-1718987
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 1216 Parker St

    Year built
    1933
    Lot size
    0.25 lot acres
    Zone code
    B1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    SPRI S:09510 P:0005
    APU
    SPRIS09510P0005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 25, 2024 — Sareen Holdings LLC — Deed · related $280k · Alden Credit Union
    Dec 1, 2022 $375,000 Sareen Holdings LLC Barbara Bates Quit Claim Arm's Length For Ne States —
    Dec 1, 2022 — Barbara Bates Hard Times Realty LLC Quit Claim Deed · related —
    Feb 23, 2010 $1 Hard Times Realty LLC Bates,barbara Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.4876
    Latitude
    42.1555
    CBSA code
    44140
    CBSA name
    SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $55,800
    $216,900
    $272,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $570,000
      2,184 SF

      107 Laconia St

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

      199 Laconia St

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

      21 Drury St

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

      73 Verge St

      OFFICE/RESIDENTIAL (MIXED USE)
      73 Verge St, Springfield, MA 01129-1120
      View Details
    • Value Estimation by Request
      1,952 SF

      337 Parker St

      OFFICE/RESIDENTIAL (MIXED USE)
      337 Parker St, Springfield, MA 01129-1071
      View Details
    • Value Estimation by Request
      1,536 SF

      256-260 Laconia St

      OFFICE/RESIDENTIAL (MIXED USE)
      256-260 Laconia St, Springfield, MA 01129
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,375 SF

      Retail Space on Boston Road

      Prime retail space for lease in Springfield, Massachusetts.
      1771-1777 Boston Post Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      2,488 SF

      Multi-Family House on Cul-de-Sac

      Multi-family house ideal for multi-generational living or income.
      19-21 Wedgewood Cir, Springfield, MA 01129
      View Details
    • Contact for pricing

      Three-Tenant Springfield Commercial Property

      2.52-acre property with bank, restaurant, and cell tower.
      1349-1355 Springfield St, Springfield, MA 01129
      View Details
    • Contact for pricing
      2,304 SF

      Springfield Retail Property For Sale

      2,304 SF retail property in Springfield, MA for sale.
      1930 Wilbraham Rd, Springfield, MA 01129
      View Details
    • New
      $399,000
      2,488 SF

      Multi-Family Home on Cul-de-Sac

      Multi-family home ideal for multi-generational living or income.
      19-21 Wedgewood Cir, Springfield, MA 01129
      View Details
    • Contact for pricing
      9,000 SF

      2.52 Acre Commercial Property

      Commercial property with bank, restaurant, and cell tower leases.
      1349 Boston Rd, Springfield, MA 01129
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Versatile Flex Space Available

      12,000 SF flex space for lease in Springfield, MA.
      105 Verge St, Springfield, MA 01129
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, ranging from 24,274 to 25,207 SqFt.
      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
    • Contact for pricing
      10,000 SF

      Retail Spaces on Boston Road

      Retail spaces available in Springfield with high traffic and density.
      1655 Boston Rd, Springfield, MA 01129
      View Details
    • 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

      Retail Space Available For Rent

      Retail space available for rent, approximately 10,000 square feet.
      1655 Boston Rd, Springfield, MA 01129
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1216 Parker St
    Springfield, MA 01129
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1216 Parker St, Springfield, MA, 01129
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!