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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Manufacturing properties
40 Albany St, Springfield, MA 01105-1002
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1811056
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1934
Total area
18,851 SF
Lot
0.5 ac (21,915 SF)
Zoning code
I2
APN
SPRI S:00160 P:0014
UPID
US38-1811056
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
-
Eastern Vehicle Recycling Auto Parts Store Waste Management Facility
-
Joseph Freedman Co Inc Recycling Center Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$310k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$603k
Blend (final)
Blend
$515k
Owner & transaction history
Joseph Freedman Co INC · 4 yrs held
Joseph Freedman Co INC
since 2021
2 recorded transactions
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
$310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$27 / 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
$13,723
Tax year 2023
Assessed value
$377,000
Assessed 2023
Previous assessed
$377,000
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$47,600
Assessed improvement
$329,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1934
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
12
Bathrooms
2
Total area
18,851 SF
Lot
0.5 ac (21,915 SF)
Zoning code
I2
APN
SPRI S:00160 P:0014
UPID
US38-1811056
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.
Building & site characteristics
From public records
Year built
1934
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
12
Bathrooms
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Joseph Freedman Co INC
Entity
Mailing address
115 STEVENS ST, SPRINGFIELD, MA 01104-3120
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2021
—
Joseph Freedman Co INC
—
Deed
related
$27,500,000 · Key Bank NA
Jun 14, 2010
—
Joseph Freedman Co INC
—
Deed Of Trust
related
$1,500,000 · Chicopee Savings Bank
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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