Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    234 Russell St Hadley, MA 01035

    • Showrooms
    • 10,904 SF
    • 2.65 lot acres
    For Lease
    View listing
    $615 /Mo
    Last Sale
    May 31, 2023
    $2,520,000
    Value Estimations
    $2,195,000
    Cap Rate Potential
    5%
    Showrooms
    Location Intelligence
    Property ID
    US38-1031833
    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.

    Current Use by Public Records

    • Showrooms

    Property Details for 234 Russell St

    Year built
    1999
    Construction
    FRAME
    Lot size
    2.65 lot acres
    Property size
    10,904 SF
    Zone code
    B
    Property type
    Showrooms
    APN
    HADL M:0005D B:0024 L:0000
    APU
    HADLM0005DB0024L0000

    Description

    This exceptional Class A medical office building, located at 234 Russell St, Hadley, MA 01035, offers multiple suites for lease. Situated on a 2.65-acre lot and conveniently located near Spruce Hill Road, this three-story building boasts 65 parking spaces and passenger elevators for easy accessibility. Built in 1999, the property is zoned for business use and is anchored by Cooley Dickinson Hospital, providing excellent visibility and a strong tenant base. Available spaces range from a minimum of 264 square feet to a maximum contiguous space of 1,057 square feet, catering to a variety of medical practices. The building features multiple office spaces, allowing for flexibility in configuring suites to meet individual needs. Shared amenities include a common waiting area and restrooms, enhancing the overall tenant experience. This prime location in Hampshire County offers a thriving medical community and excellent access to major transportation routes. The property's modern design and convenient amenities make it an ideal location for medical professionals seeking high-quality office space. Inquire today to learn more about available suites and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,095,000
      ML approach
      $2,220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,740,000
      6.5%
      $1,610,000
      7%
      $1,495,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,570,000
      Current use
      OFFICE BUILDING
      $2,085,000
      Change: +33% Conversion: Easy
      RETAIL STORES
      $1,700,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hadley
    County
    Hampshire
    State
    Massachusetts
    Longitude
    -72.5731
    Latitude
    42.3475
    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
    2024
    $20,164
    $437,200
    $1,333,100
    $1,770,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.48 Acres

      Ml Vly Rd

      SHOW ROOM, WAREHOUSE • 3.48 Acres
      Ml Vly Rd, Hadley, MA 01035
      View Details
    • Value Estimation by Request
      320 SF

      222 Russell St

      SHOW ROOM, WAREHOUSE • 320 SF
      222 Russell St, Hadley, MA 01035-9542
      View Details
    • Value Estimation
      $555,000
      5,304 SF

      320 Russell St

      SHOW ROOM, WAREHOUSE • 5,304 SF
      320 Russell St, Hadley, MA 01035-9539
      View Details
    • Value Estimation by Request
      2,288 SF

      325 Rocky Hl Rd

      SHOW ROOM, WAREHOUSE • 2,288 SF
      325 Rocky Hl Rd, Hadley, MA 01035-9488
      View Details
    • Value Estimation by Request
      2,424 SF

      441 Russell St

      SHOW ROOM, WAREHOUSE • 2,424 SF
      441 Russell St, Hadley, MA 01035
      View Details
    • Value Estimation by Request
      2,100 SF

      251 Russell St

      SHOW ROOM, WAREHOUSE • 2,100 SF
      251 Russell St, Hadley, MA 01035-9558
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Hadley, MA Commercial Land Parcel

      Prime Route 9 Commercial Land, 12,197 SF
      13 Russell St, Hadley, MA 01035
      View Details
    • $1,699,999
      4.54 Acres

      Hadley, MA Commercial Land Opportunity

      4.54 Acres, Business Zoning, Prime Location
      328 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing

      Rare Duplex on Wooded Lot

      Well-maintained duplex on 3.3 acres near Northampton.
      151 Pantry Rd, Hatfield, MA 01035
      View Details
    • Contact for pricing
      8,800 SF

      Multi-Unit Property For Sale

      Well-maintained 8,800 SF multi-unit property on 1.02 acres.
      31 Campus Plaza Rd, Hadley, MA 01035
      View Details
    • Contact for pricing

      Commercial Land with High Visibility

      12,197 sq ft lot with former service station.
      13 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing

      Rare Hatfield Duplex on Wooded Acres

      Well-maintained 2-family property on a quiet, wooded lot.
      147 Pantry Rd, Hatfield, MA 01035
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space available near Home Depot and Walmart.
      344 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing
      2,539 SF

      Retail Space Near Hampshire Mall

      Retail space in a high-traffic area near major colleges.
      379 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing
      151,109 SF

      Russell Street Retail Space Available

      Prime Amherst Retail: 5,682 SF Available
      434-454 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing
      4,820 SF

      Hadley Retail Space Available

      Retail property available for lease in Hadley, Massachusetts.
      48 Russell St, Hadley, MA 01035
      View Details
    • Contact for pricing

      Retail Space Near UMass Amherst

      Retail space available near UMass Amherst campus.
      Hadley, MA 01035
      View Details
    • $15 SF/Yr
      17,125 SF

      Hadley Retail/Office Space

      Prime Route 9 location, flexible suites.
      10 Maple St, Hadley, MA 01035
      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.
    234 Russell St
    Hadley, MA 01035
    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

    Google sign-in failed. Please try again or use another login method.