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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Retail space
232 Chestnut St 240 Springfield, MA 01103-1108
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-1546072
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1910
Total area
13,262 SF
Lot
0.19 ac (8,455 SF)
Zoning code
B2
APN
SPRI S:02750 P:0073
UPID
US38-1546072
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
-
Olympic Deli Restaurant Restaurant
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$535k
Blend (final)
Blend
$680k
Owner & transaction history
B & B Seed Associates LLC · 2 yrs held
B & B Seed Associates LLC
since 2023
Last sale
$825,000
6 recorded transactions
Zoning & alternative use
B2 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+16.1%
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
$705,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$900,000
Current use
COMMERCIAL (GENERAL)
$1,045,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±10% · vs last sale $825k (Nov 29 2023)
Last sale anchor
$825k
Nov 29 2023
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
$51 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$15,000
Tax year 2024
Assessed value
$423,600
Assessed 2024
Previous assessed
$423,600
+0.0% YoY
Effective rate
3.54%
On assessed value
Assessed land
$57,700
Assessed improvement
$365,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1910
Heating
STEAM
Buildings
1
Stories
1
Total area
13,262 SF
Lot
0.19 ac (8,455 SF)
Zoning code
B2
APN
SPRI S:02750 P:0073
UPID
US38-1546072
Jurisdiction
SPRINGFIELD
Zoning & alternative use
B2 · Springfield, MA
Zoning B2 · permitted uses
B2 · 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
RETAIL STORES Current
Est. value
$900,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1910
Heating
STEAM
Stories
1
Buildings
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
B & B Seed Associates LLC
Entity
Free & Clear · 2 yrs held
Mailing address
234 CHESTNUT ST, SPRINGFIELD, MA 01103-1108
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2023
—
B & B Seed Associates LLC
621-625 Center Street RT
Quit Claim Deed
related
—
Nov 7, 2023
—
621-625 Center Street RT
B & B Seed Associates LLC
Quit Claim Deed
related
—
Sep 15, 2022
$825,000
B&b Seed Associates LLC
Frank B Murray LLC
Quit Claim Arm's Length For Ne States
$600,000 · Ronald G Eckman
Feb 4, 1997
—
Ronald G Eckman
—
Deed Of Trust
related
$250,000 · Hampden Savings Bank
Dec 1, 1995
—
Ronald G Eckman
—
Deed Of Trust
related
$50,000 · Springfield Bus Dev
Jan 14, 1994
$104,512
Ronald G Eckman
Bank Of New England
Grant Deed
—
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.
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