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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Retail properties & Spaces
246 Cottage St Springfield, MA 01104-3540
Entity Owned
3-yr Hold
Free & Clear
Property ID
US38-2399904
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1968
Total area
13,815 SF
Lot
1.68 ac (72,993 SF)
Zoning code
I2
APN
SPRI S:03310 P:0038
UPID
US38-2399904
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
-
Pride Office/Bakery Corporate Office Business Park
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.79M
CAP Approach
CAP
$2.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Pride Operating LLC · 3 yrs held
Pride Operating LLC
since 2022
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
I2 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+138.9%
Auto repair, garage
$1.8M
+90.7%
Commercial (general)
$1.5M
+63.4%
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
$1,850,000
ML approach
$1,790,000
CAP Approach
CAP Return
Estimation
6%
$2,670,000
6.5%
$2,465,000
7%
$2,290,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,245,000
Change: +139% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,790,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,535,000
Change: +63% · Conversion: Easy
RESTAURANT
$1,185,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±10% · vs last sale $1.93M (Dec 13 2022)
Last sale anchor
$1.93M
Dec 13 2022
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
$136 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$22,102
Tax year 2023
Assessed value
$607,200
Assessed 2023
Previous assessed
$607,200
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$144,900
Assessed improvement
$462,300
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
6
Bathrooms
1
Total area
13,815 SF
Lot
1.68 ac (72,993 SF)
Zoning code
I2
APN
SPRI S:03310 P:0038
UPID
US38-2399904
Jurisdiction
SPRINGFIELD
Zoning & alternative use
I2 · Springfield, MA
Zoning I2 · permitted uses
I2 · 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
OFFICE BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
1968
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
6
Bathrooms
1
Lot
1.68 ac
Current owner
From public records · entity-resolved
Pride Operating LLC
Entity
Free & Clear · 3 yrs held
Mailing address
246 COTTAGE ST, SPRINGFIELD, MA 01104-3540
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2022
—
Pride Operating LLC
Pride Real Estate LLC
Quit Claim Deed
related
—
Jun 29, 2022
—
Pride Real Estate LLC
—
Deed
related
$125,000,000 · Wells Fargo Bank NA
Jan 14, 2022
$1,934,400
Pride Real Estate LLC
Pride Plazas INC
Quit Claim Arm's Length For Ne States
—
Nov 1, 2013
—
Pride Plazas INC
—
Deed Of Trust
related
$25,500,000 · Peoples Bank
Mar 25, 1992
$395,731
Pride Plazas INC
Cantalini,paul J
Grant Deed
related
$900,000 · Citizens Trust Co
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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