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    123 Interstate Dr West Springfield, MA 01089-4533
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    Property profile & analytics

    123 Interstate Dr West Springfield, MA 01089-4533

    View on Map
    • Specialty properties
    • 19,986 SF
    • 3.98 lot acres
    Off-Market
    Property ID
    US38-1629818
    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
    $1,420,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • USI Insurance Service / Insurance Agency
    • Viability / Special Education Facility

    Property Details for 123 Interstate Dr

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.98 lot acres
    Property size
    19,986 SF
    Property type
    Specialty properties
    APN
    WSPR M:00324 B:00125 L:000IP
    APU
    WSPRM00324B00125L000IP

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,323,000
      Market price range: $741k - $2.91M
      AI Estimate
      $1,516,000
      Market price range: $1.20M - $3.01M

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $1,735,000
      Current use
      OFFICE BUILDING
      $1,835,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6508
    Latitude
    42.1584
    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
    2020
    $68,601
    $268,800
    $2,376,400
    $2,645,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,601 SF

      168 Greystone Ave

      CHARITABLE ORGANIZATION • 2,601 SF
      168 Greystone Ave, West Springfield, MA 01089-1908
      View Details
    • Value Estimation
      $1,445,000
      26,552 SF

      593 Main St, Unit 657

      CHARITABLE ORGANIZATION • 26,552 SF
      593 Main St, West Springfield, MA 01089-3923
      View Details
    • Value Estimation
      $1,120,000
      12,380 SF

      1305 Memorial Ave

      CHARITABLE ORGANIZATION • 12,380 SF
      1305 Memorial Ave, West Springfield, MA 01089-3578
      View Details
    • Value Estimation
      $1,235,000
      33,288 SF

      1305 Memorial Ave

      CHARITABLE ORGANIZATION • 33,288 SF
      1305 Memorial Ave, West Springfield, MA 01089-3578
      View Details
    • Value Estimation by Request
      2,289 SF

      70 Park St

      CHARITABLE ORGANIZATION • 2,289 SF
      70 Park St, West Springfield, MA 01089-3318
      View Details
    • Value Estimation by Request
      2,637 SF

      58 Chapin St

      CHARITABLE ORGANIZATION • 2,637 SF
      58 Chapin St, West Springfield, MA 01089-3932
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fully Rented Commercial Property

      Well-maintained commercial property with existing leases in place.
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      Condominium Adjacent to Springfield CC

      Meticulously maintained 2BR, 2.5BA condo with nearly 2200sqft living space.
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    • $850,000
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      West Springfield Office Building For Sale

      Office building with on-site parking and highway access.
      71 Park Ave, West Springfield, MA 01089
      View Details
    • Contact for pricing

      West Springfield Office Building For Sale

      Well-maintained office building with excellent rental history and convenient location.
      1233A Westfield St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      Pending

      Updated Two-Family Home with Yard

      Two-family home with updates, fenced yard, and income potential.
      1996 Westfield St, West Springfield, MA 01089
      View Details
    • $699,900
      Pending

      Renovated Three-Family Turnkey Property

      Newly renovated, fully vacant three-family property with modern amenities.
      20 Cottage St, West Springfield, MA 01089
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    Similar Nearby for Lease

    • $23 SF/Yr

      Renovated Office Space Available

      Move-in ready office space with modern amenities and convenient location.
      200 Hillside Cir, West Springfield, MA 01089
      View Details
    • $6,800 /Mo

      West Springfield Office Suites for Lease

      Office suites available for lease with flexible layouts and convenient access.
      117 Park Ave, West Springfield, MA 01089
      View Details
    • $18 SF/Yr

      Route 20 Retail Center Space

      High-visibility retail spaces available on Route 20 in West Springfield.
      1399 Westfield St, West Springfield, MA 01089
      View Details
    • $2,100 /Mo
      1,700 SF

      Warehouse Office Combination For Rent

      Warehouse with office space available for rent, close to highways.
      163 Doty Cir, West Springfield, MA 01089
      View Details
    • $900 /Mo
      620 SF

      West Springfield Commercial Space Available

      Adaptable 620 sq ft mixed-use unit in high-traffic area.
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      View Details
    • Contact for pricing
      1,863 SF

      West Springfield Office Space Available

      Professional office suite in a centrally located building.
      201 Park Ave, West Springfield, MA 01089
      View Details
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    123 Interstate Dr
    West Springfield, MA 01089-4533
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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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