Financial
Distress signals
Property profile

1351 Main St Springfield, MA 01103

FOR SALE
Office buildings
Property ID
US38-1476282
20,792 SF 0.16 ac lot Built 1907
Last sale Feb 2004 · $1
Individually Owned Owner of record is an individual. 22-yr Hold Held for 22 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

A historic former bank space located in downtown Springfield within the Market Place complex, positioned across from One Financial Plaza and with street visibility along Main Street. The building offers up to approximately 13,500 square feet and is configured with a mostly open first floor plus two upper levels suitable for office use. A finished basement includes two former vault areas that have been converted into conference rooms. The property is set within the Market Place development and provides access to nearby dining and professional amenities.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$24k
Tax billed · 2023
Assessed value$664k
Assessed land$99k
Assessed improvement$565k
Effective rate3.64%

Value estimate

· Sep 2026
$585k
$527k – $644k
CAP approach$4.70M
Submarket $/SF estimate$5.26M
NOI build-up
Gross scheduled income$243k
Vacancy & credit loss−$19k
Operating expenses−$67k
NOI · 920,541.18% cap applied$156k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$245/SF
ZIP average, outlier-cleaned · 24 recorded sales of this use type
Observed band · Q1–Q3$23 – $487

Cap rate analysis

How does the asset earn?
920,541.18%
$156k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
B3
JurisdictionSPRINGFIELD

Location intelligence

Which uses thrive at this corner?
Best fit: Locksmith
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Locksmith9.4
Carpet & Flooring Store9.1
Tailor Shop9.0

Location

1351 Main St Springfield, MA 01103
County assessor Recorded deeds · 7 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1654 Main, Springfield, MA 01103-1214 $725,000 Jan 2026 17,664 SF
127 Lyman, Springfield, MA 01103-1315 $1,100,000 Jul 2025 20,400 SF
133 State, Springfield, MA 01103-2260 $1,200,000 Jul 2024 24,016 SF
315 Brg, Springfield, MA 01103-1411 $1,725,000 Nov 2022 26,700 SF
235 Chestnut, Springfield, MA 01103-1100 $750,000 Sep 2022 28,576 SF
1691 Main, Springfield, MA 01103-1003 $550,000 Jul 2020 23,700 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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