New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,435,000
Investment properties
1490 Allen St 1504, Springfield, MA 01118-1817
Entity Owned
5-yr Hold
Free & Clear
Property ID
US38-1001906
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1965
Total area
40,468 SF
Lot
6.05 ac (263,538 SF)
Zoning code
SR1B1
APN
SPRI S:00280 P:0438
UPID
US38-1001906
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
-
Sabores Authentic Mexican Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$2.44M
Owner & transaction history
Bicentennial Plaza LLC · 5 yrs held
Bicentennial Plaza LLC
since 2021
4 recorded transactions
Zoning & alternative use
SR1B1 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+8.7%
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
COMMERCIAL (GENERAL)
$3,195,000
Current use
RESTAURANT
$3,470,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$2,750,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±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
$60 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$66,993
Tax year 2020
Assessed value
$3,111,900
Assessed 2023
Previous assessed
$3,111,900
+0.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$756,600
Assessed improvement
$2,355,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
40,468 SF
Lot
6.05 ac (263,538 SF)
Zoning code
SR1B1
APN
SPRI S:00280 P:0438
UPID
US38-1001906
Jurisdiction
SPRINGFIELD
Zoning & alternative use
SR1B1 · Springfield, MA
Zoning SR1B1 · permitted uses
SR1B1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
RESTAURANT
Est. value
$3.5M
RETAIL STORES
Est. value
$2.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1965
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
6.05 ac
Current owner
From public records · entity-resolved
Bicentennial Plaza LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1506 ALLEN ST, SPRINGFIELD, MA 01118-1817
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2021
—
Bicentennial Plaza LLC
Joseph S Bonavita
Quit Claim Deed
related
—
Jun 15, 2001
—
Joseph S Bonavita
—
Deed Of Trust
related
$225,000 · Westfield Bank Fsb
Dec 15, 1997
—
Joseph Bonavita
—
Deed Of Trust
related
$125,000 · Westfield Bank Fsb
Oct 16, 1996
—
Joseph S Bonavita
—
Deed Of Trust
related
$1,000,000 · Westfield Bank Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1490 Allen St, Unit 1504?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
