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Property profile & analytics
OFF-MARKET
Estimated value
$1,285,000
Retail properties & Spaces
274 Westfield St West Springfield, MA 01089-2572
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1464851
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1991
Construction
FRAME
Total area
6,552 SF
Lot
1.36 ac (59,185 SF)
APN
WSPR M:00394 B:07050 L:00046
UPID
US38-1464851
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
-
Northeast Laser Medical Clinic Ophthalmologist
-
John Frangie, M.D Ophthalmologist
-
MetLife Home Loans Loan Service Bank
-
West Side Optical Ophthalmologist (Bike/Boat/Book/etc) Store
-
Thomas & Wickenheiser, LLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.29M
Owner & transaction history
Omni Landholders LLC · 5 yrs held
Omni Landholders LLC
since 2020
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 West Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,795,000
6.5%
$1,655,000
7%
$1,540,000
Alternative Use
Use
Estimation
RETAIL STORES
$880,000
Current use
RESTAURANT
$880,000
Change: 0% · Conversion: Easy
COMMERCIAL (GENERAL)
$840,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$820,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±10%
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
$196 / 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
$36,162
Tax year 2024
Assessed value
$1,213,500
Assessed 2024
Previous assessed
$1,104,500
+9.9% YoY
Effective rate
2.98%
On assessed value
Assessed land
$128,200
Assessed improvement
$1,085,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1991
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Bathrooms
2
Total area
6,552 SF
Lot
1.36 ac (59,185 SF)
APN
WSPR M:00394 B:07050 L:00046
UPID
US38-1464851
Jurisdiction
WEST SPRINGFIELD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$880,000
RESTAURANT
Est. value
$880,000
COMMERCIAL (GENERAL)
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$820,000
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1991
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
2
Lot
1.36 ac
Current owner
From public records · entity-resolved
Omni Landholders LLC
Entity
Mailing address
274 WESTFIELD ST, WEST SPRINGFIELD, MA 01089-2572
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Sep 25, 2020
—
Omni Landholders LLC
Westfield Street 274
Correction Deed
related
$475,000 · Monson Savings Bank
Sep 27, 2019
—
Omni Landowners LLC
274 Westfield Street
Quit Claim Deed
related
—
Mar 6, 2014
$975,000
274 Westfield Street L
3 Diamond Realty Corp
Quit Claim Arm's Length For Ne States
$780,000 · Peoples United Bank
Apr 22, 1997
—
Three Diamond Rlty
—
Deed Of Trust
related
$250,000 · Westfield Bank Fsb
Jun 21, 1991
$150,000
Osama S Jalal
Pride Convenience INC
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.
Try Rey
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