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    333 Columbus Ave Springfield, MA 01105
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    Property profile & analytics

    333 Columbus Ave Springfield, MA 01105

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    • Office buildings
    • 28,458 SF
    • 1.53 lot acres
    For Sale
    $1,000,000
    View Listing →
    Springfield Industrial Portfolio For Sale
    $1,000,000

    Springfield Industrial Portfolio

    Two Buildings, 33,266 SF, 1.53 Acres

    333 Columbus Ave, Springfield, MA 01105
    View Listing
    Property ID
    US38-1156075
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • IMAGEFLOORS LLC / General Contractor / Renovation Specialist
    • Gandara Mental Health / Crisis Center / Medical Clinic
    • ALL POWER MINISTRIES / Church / Mosque
    • Morthern Construction / Construction Company / General Contractor
    • Labadorf Associates Inc / Business Management Consultant

    Property Details for 333 Columbus Ave

    Year built
    1960
    Lot size
    1.53 lot acres
    Property size
    28,458 SF
    Zone code
    B1
    Property type
    Office buildings
    APN
    SPRI S:04303 P:0647
    APU
    SPRIS04303P0647

    Description

    This exceptional investment opportunity presents two strategically located industrial buildings totaling 33,266 square feet of usable space situated on a sizable 1.53-acre lot in Springfield, Massachusetts. The property comprises two distinct structures: Building 1 offers 28,458 square feet, while Building 2 provides an additional 4,808 square feet. This combined space presents a versatile canvas for a variety of commercial uses, benefiting from its excellent highway accessibility and high visibility. The expansive lot size allows for ample parking, potential expansion, or outdoor storage. The property's prime location ensures convenient access to major transportation routes, streamlining logistics and distribution. This is an ideal acquisition for businesses seeking a substantial footprint in a thriving commercial area. The asking price of $1,000,000 reflects the significant value and potential return on investment this property offers. Detailed property surveys and building plans are available upon request. This is a rare opportunity to acquire a substantial industrial property in a desirable location, offering immediate occupancy and significant long-term potential. Don't miss this chance to secure a valuable asset in a competitive market. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,478,000
      Market price range: $1.12M - $9.14M
      AI Estimate
      $1,385,000
      Market price range: $1.23M - $7.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.579
    Latitude
    42.0848
    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
    2023
    $20,781
    $299,200
    $271,700
    $570,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      57 School St

      OFFICE BUILDING • 9,819 SF
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    • Value Estimation by Request
      1,056 SF

      43 Winthrop St

      OFFICE BUILDING • 1,056 SF
      43 Winthrop St, Springfield, MA 01105-2003
      View Details
    • Value Estimation
      $920,000
      7,177 SF

      33 Mulberry St

      OFFICE BUILDING • 7,177 SF
      33 Mulberry St, Springfield, MA 01105-1406
      View Details
    • Value Estimation
      $1,075,000
      9,195 SF

      529 Main St, Unit 535

      OFFICE BUILDING • 9,195 SF
      529 Main St, Springfield, MA 01105-2411
      View Details
    • Value Estimation
      $2,155,000
      39,972 SF

      110 Maple St

      OFFICE BUILDING • 39,972 SF
      110 Maple St, Springfield, MA 01105-1864
      View Details

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    • $499,000

      Mixed-Use Property in Commercial Corridor

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      155 Maple St, Springfield, MA 01105
      View Details
    • $4,500,000
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      Prime Springfield Office Space

      First-class office space with highway access and on-site parking.
      505-585 E Columbus Ave, Springfield, MA 01105
      View Details

    Similar Nearby for Lease

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      Gated Office Campus For Rent

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    • $14 SF/Yr
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      Springfield Professional/Medical Office Space

      Professional and medical office space for lease in Springfield, MA.
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      Pending

      Springfield Office Space For Rent

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      View Details
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      4,367 SF

      Commercial Building Near Interstate 91

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      View Details
    View Listing
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    Springfield, MA 01105
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    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
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