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Property profile & analytics
FOR LEASE
Medical Office Space
354 Birnie Ave, Springfield, MA 01107
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US38-0815923
For Lease
1 / 2
$13 SF/Yr
354 Birnie Ave, Springfield, MA 01107
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1920
Total area
31,040 SF
Lot
1.49 ac (64,948 SF)
Zoning code
I2
APN
SPRI S:01480 P:0102
UPID
US38-0815923
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
-
Sherri L. Ross, PA Physician
-
Dr. Neetu Kaur, MD Physician
-
Ruth Miller Physician
-
Qayyum Asimah S MD Physician
-
Bowers April E MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$855k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$935k
Owner & transaction history
Klondike Inv Grp · 20 yrs held
Klondike Inv Grp
since 2005
1 recorded transaction
Zoning & alternative use
I2 · Springfield, MA
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 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
by Request
ML approach
$855,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,400,000
Current use
Blend value · Realmo final
$935k
Range $842k – $1.03M · ±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
$30 / 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
$94,767
Tax year 2023
Assessed value
$2,603,500
Assessed 2023
Previous assessed
$2,603,500
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$445,900
Assessed improvement
$2,157,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1920
Heating
FORCED AIR
Buildings
1
Stories
4
Rooms
6
Bathrooms
1
Total area
31,040 SF
Lot
1.49 ac (64,948 SF)
Zoning code
I2
APN
SPRI S:01480 P:0102
UPID
US38-0815923
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
MEDICAL BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING Current
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
1920
Heating
FORCED AIR
Stories
4
Buildings
1
Rooms
6
Bathrooms
1
Lot
1.49 ac
Current owner
From public records · entity-resolved
Klondike Inv Grp
Individual
Mailing address
1441 MAIN ST, SPRINGFIELD, MA 01103-1406
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2005
$3,700,000
Klondike Inv Grp
Northernedge RT
Deed
$1,600,000 · Td Banknorth Mtg Grp
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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