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Property profile & analytics
OFF-MARKET
Office buildings
38 Berkshire Ave, Springfield, MA 01109-1708
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1539970
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Total area
1,640 SF
Lot
0.26 ac (11,273 SF)
Zoning code
SR1B1
APN
SPRI S:01340 P:0007
UPID
US38-1539970
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
-
Ambassador Professional Painters General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Real Est Invs Northeast L · 1 yrs held
Real Est Invs Northeast L
since 2024
Last sale
$130,000
4 recorded transactions
Zoning & alternative use
SR1B1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,846
Tax year 2024
Assessed value
$165,100
Assessed 2024
Previous assessed
$165,100
+0.0% YoY
Effective rate
3.54%
On assessed value
Assessed land
$46,200
Assessed improvement
$118,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
16
Bathrooms
2
Total area
1,640 SF
Lot
0.26 ac (11,273 SF)
Zoning code
SR1B1
APN
SPRI S:01340 P:0007
UPID
US38-1539970
Jurisdiction
SPRINGFIELD
Zoning & alternative use
SR1B1 · Springfield, MA
Zoning SR1B1 · permitted uses
SR1B1 · 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.
Building & site characteristics
From public records
Year built
1920
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
16
Bathrooms
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Real Est Invs Northeast L
Individual
Mailing address
900 RIVERDALE STSTE15, W SPRINGFIELD, MA 01089-4900
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2024
$130,000
Real Est Invs Northeast L
City Enterprise INC
Quit Claim Arm's Length For Ne States
$130,000 · Ronald C Latorre
Dec 4, 2017
—
Eastern General Contr
Ijn Real Estate Dev & Hldgs
Quit Claim Deed
related
—
Mar 26, 2015
—
Ijn Real Estate Dev & Hldgs
City Ent INC
Quit Claim Deed
related
—
Jan 29, 2004
$90,000
City Enterprise INC
Perry RT
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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