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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Super regional malls
2460 Main St Springfield, MA 01107-1925
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-0512903
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1995
Total area
17,671 SF
Lot
0.33 ac (14,462 SF)
Zoning code
B1
APN
SPRI S:08130 P:0230
UPID
US38-0512903
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
-
Arce Furniture repair Renovation Specialist Hardware & Home Improvement
-
Blessings Nutrition (Bike/Boat/Book/etc) Store Cosmetic Store
-
Imperio Musical (Bike/Boat/Book/etc) Store
-
Arce Tax Service Tax Preparation
-
La Cocina del Mero Mero Pinchos Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$810k
Owner & transaction history
Isla Associates 1 LLC · 4 yrs held
Isla Associates 1 LLC
since 2021
Last sale
$800,000
3 recorded transactions
Zoning & alternative use
B1 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+116.4%
Medical building
$795,000
+60.9%
Industrial (general)
$605,000
+21.7%
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
$825,000
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$495,000
Current use
RETAIL STORES
$1,070,000
Change: +116% · Conversion: Easy
MEDICAL BUILDING
$795,000
Change: +61% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$605,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $800k (Dec 3 2021)
Last sale anchor
$800k
Dec 3 2021
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
$46 / 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
$38,941
Tax year 2023
Assessed value
$1,069,800
Assessed 2023
Previous assessed
$1,069,800
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$80,600
Assessed improvement
$989,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1995
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
15
Bathrooms
3
Total area
17,671 SF
Lot
0.33 ac (14,462 SF)
Zoning code
B1
APN
SPRI S:08130 P:0230
UPID
US38-0512903
Jurisdiction
SPRINGFIELD
Zoning & alternative use
B1 · Springfield, MA
Zoning B1 · permitted uses
B1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$495,000
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$795,000
INDUSTRIAL (GENERAL)
Est. value
$605,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (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
1995
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
15
Bathrooms
3
Lot
0.33 ac
Current owner
From public records · entity-resolved
Isla Associates 1 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2460 MAIN ST STE #112, SPRINGFIELD, MA 01107-1925
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2021
$800,000
Isla Associates 1 LLC
Brightwood Dev Corp
Quit Claim Arm's Length For Ne States
—
Jan 8, 2008
—
Brightwood Dev Corp
—
Deed Of Trust
related
$424,000 · Banknorth NA
Nov 6, 1991
$16,000
Brightwood Dev Corp
City Of Springfield
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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