Add Listing
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

    245 Springfield St Agawam, MA 01001-1507

    • Automotive properties
    • 28,760 SF
    • 2.10 lot acres
    OFF-MARKET
    Value Estimations
    $3,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1627750
    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

    • Sarat Ford Commercial Parts and Fleet Service Division / Auto Parts Store / (Bike/Boat/Book/etc) Store
    • Sarat Lincoln / Car Rental Facility
    • Sarat Ford Service / Auto Repair Shop
    • Sarat Ford Parts / Auto Parts Store
    • Sarat Lincoln Parts / Auto Parts Store

    Property Details for 245 Springfield St

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    2.10 lot acres
    Property size
    28,760 SF
    Zone code
    BB
    Property type
    Automotive properties
    APN
    AGAW M:0I15 B:0008 L:14
    APU
    AGAWM0I15B0008L14

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,518,000
      Market price range: $1.35M - $3.52M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,600,000
      Current use
      RESTAURANT
      $3,860,000
      Change: +7% Conversion: Difficult
      RETAIL STORES
      $2,925,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Agawam
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.638
    Latitude
    42.088
    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
    $96,864
    $362,200
    $3,155,000
    $3,517,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      940 SF

      1514 Main St

      VEHICLE SALES, RENTALS • 940 SF
      1514 Main St, Agawam, MA 01001-2511
      View Details
    • Value Estimation by Request
      1,260 SF

      1801 Main St

      VEHICLE SALES, RENTALS • 1,260 SF
      1801 Main St, Agawam, MA 01001-2516
      View Details
    • Value Estimation by Request
      1,202 SF

      207 Main St

      VEHICLE SALES, RENTALS • 1,202 SF
      207 Main St, Agawam, MA 01001-1822
      View Details
    • Value Estimation by Request
      1,400 SF

      521 Riv Rd

      VEHICLE SALES, RENTALS • 1,400 SF
      521 Riv Rd, Agawam, MA 01001-2872
      View Details
    • Value Estimation
      $790,000
      10,400 SF

      250 Springfield St

      VEHICLE SALES, RENTALS • 10,400 SF
      250 Springfield St, Agawam, MA 01001-1508
      View Details
    • Value Estimation by Request

      15 Mansion Woods Dr, Unit G15

      RESIDENTIAL PARKING GARAGE
      15 Mansion Woods Dr, Agawam, MA 01001-2398
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Agawam Industrial Park Opportunity

      17+ acre parcel with retail, office, and warehouse space.
      769 Silver St, Agawam, MA 01001
      View Details
    • Contact for pricing
      47,500 SF

      Agawam Industrial Park Opportunity

      17+ acre industrial park with retail, office, and warehouse space.
      769 Silver St, Agawam, MA 01001
      View Details
    • Contact for pricing
      4,950 SF

      Commercial Building in Business District

      One-story commercial building with parking, suitable for various uses.
      605 Silver St, Agawam, MA 01001
      View Details
    • Contact for pricing
      7,995 SF

      Versatile Retail and Warehouse Building

      8,000 SF retail and warehouse near downtown Agawam.
      351 Walnut Street Ext, Agawam, MA 01001
      View Details
    • Contact for pricing
      69,140 SF

      Agawam Retail Opportunity For Sale

      69,140 SF commercial property on 4.38 acres in Agawam.
      151 Springfield St, Agawam, MA 01001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,181 SF

      Retail Space in Feeding Hills

      Retail space available for lease in Feeding Hills, MA.
      5 N Westfield St, Feeding Hills, MA 01001
      View Details
    • Contact for pricing
      4,600 SF

      Retail/Office Space Near Route 57

      Retail or office space available near Route 57 rotary.
      540-584 Meadow Street Ext, Agawam, MA 01001
      View Details
    • Contact for pricing
      1,300 SF

      Historic Building Office/Retail Space

      Character-rich 1300 sq ft space suitable for office or retail.
      23 Southwick St, Feeding Hills, MA 01001
      View Details
    • $3,500 /Mo
      4,000 SF

      Flex Space with Drive-In Bays

      4000 SF flex space with convenient highway access.
      31 Saint Jacques Ave, Agawam, MA 01001
      View Details
    • Contact for pricing
      39,840 SF

      Agawam Warehouse Space Available

      39,840 square foot warehouse/industrial space for lease in Agawam.
      79 Gen Creighton W Abrams Dr, Agawam, MA 01001
      View Details
    • Contact for pricing

      Professional Office Spaces Available

      Two office units for lease in multi-tenanted building.
      540 Meadow St, Agawam, MA 01001
      View Details

    Property Visit Statistics

    • Visits by month
      4.9k
    • Visitors by month
      3.8k
    • Avg Time on site
      31 min
    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.
    245 Springfield St
    Agawam, MA 01001-1507
    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.
    Sign Up Successful!
    You now have access to more from Realmo!