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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    370 Chicopee St Chicopee, MA 01013-1943

    • Investment properties
    • 2,058 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2021
    $247,500
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    8.6%
    Investment properties
    Location Intelligence
    Property ID
    US38-0835774
    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.

    Current Use by Public Records

    • Investment properties

    Property Details for 370 Chicopee St

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.31 lot acres
    Property size
    2,058 SF
    Zone code
    5
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    CHIC M:0386 P:00002
    APU
    CHICM0386P00002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $240,000
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $242,000
      Market price range: $107k - $242k
      AI Estimate
      $202,000
      Market price range: $94.3k - $202k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $180,000
      Current use
      RETAIL STORES
      $285,000
      Change: +61% Conversion: Easy
      AUTO REPAIR, GARAGE
      $215,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $190,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6239
    Latitude
    42.1717
    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
    2024
    $0.00
    $100,400
    $172,000
    $272,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $235,000
      2,120 SF

      94 Chicopee St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,120 SF
      94 Chicopee St, Chicopee, MA 01013-1719
      View Details
    • Value Estimation
      $1,000,000
      4,832 SF

      698 Chicopee St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,832 SF
      698 Chicopee St, Chicopee, MA 01013-2709
      View Details
    • Value Estimation
      $450,000
      7,870 SF

      732 Chicopee St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,870 SF
      732 Chicopee St, Chicopee, MA 01013-2748
      View Details
    • Value Estimation
      $1,085,000
      4,263 SF

      66 Dwight St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,263 SF
      66 Dwight St, Chicopee, MA 01013-1206
      View Details
    • Value Estimation
      $835,000
      6,780 SF

      214 Exchange St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,780 SF
      214 Exchange St, Chicopee, MA 01013-1241
      View Details
    • Value Estimation
      $265,000
      0.23 Acres

      500 Frnt St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.23 Acres
      500 Frnt St, Chicopee, MA 01013-3110
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Property in Downtown Chicopee

      Historic mixed-use property with theater, retail, and office spaces.
      43 Springfield St, Chicopee, MA 01013
      View Details
    • $1,299,000

      Mixed-Use Building: Investment Opportunity

      Fully occupied 11-unit mixed-use building with strong cash flow.
      89-95 School St, Chicopee, MA 01013
      View Details
    • $790,000

      Mixed-Use Property in Prime Location

      Fully rented mixed-use property with apartments and retail spaces.
      726 Chicopee St, Chicopee, MA 01013
      View Details
    • $599,000

      Renovated Mixed-Use Property For Sale

      Newly renovated mixed-use property with residential and commercial units.
      757-759 Chicopee St, Chicopee, MA 01013
      View Details
    • $489,000
      0.23 Acres

      Chicopee Commercial Building Investment

      Versatile Retail, Warehouse & Garage Space
      1046 Chicopee St, Chicopee, MA 01013
      View Details
    • $690,000
      0.41 Acres

      Chicopee Commercial Building & Lots

      Prime Investment: Store, Apartments, Land
      4 Dale Ct, Chicopee, MA 01013
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,828 SF

      Chicopee Office Space For Lease

      Second floor office space in downtown Chicopee with on-site parking.
      35 Center St, Chicopee, MA 01013
      View Details
    • $1,495 /Mo

      Contractor Shop/Workshop Space Available

      Versatile space for trade professionals, sign shops, and auto detailers.
      257 Hampden St, Chicopee, MA 01013
      View Details
    • $12 SF/Yr
      57,459 SF

      Chicopee School Building For Lease

      Spacious Educational Facility - Prime Location
      134 Springfield St, Chicopee, MA 01013
      View Details
    • $16 SF/Yr

      Retail Space on Chicopee Street

      Former barber shop with large windows available for lease.
      460 Chicopee St, Chicopee, MA 01013
      View Details
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    370 Chicopee St
    Chicopee, MA 01013-1943
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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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