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

    501 Memorial Dr Chicopee, MA 01020-5036

    • Turn key restaurants
    • 4,749 SF
    • 1.32 lot acres
    OFF-MARKET
    Value Estimations
    $830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1921191
    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

    • Chick-fil-A / Restaurant / Take-out & Catering

    Property Details for 501 Memorial Dr

    Year built
    2014
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.32 lot acres
    Property size
    4,749 SF
    Zone code
    111A
    Property type
    Turn key restaurants
    APN
    CHIC M:0341 P:0004A
    APU
    CHICM0341P0004A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $864,000
      Market price range: $207k - $1.18M
      AI Estimate
      $792,000
      Market price range: $402k - $793k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $635,000
      Current use
      RETAIL STORES
      $665,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5765
    Latitude
    42.1714
    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
    $38,851
    $419,100
    $803,400
    $1,222,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,325,000
      3,396 SF

      529 Memorial Dr

      RESTAURANT • 3,396 SF
      529 Memorial Dr, Chicopee, MA 01020-5036
      View Details
    • Value Estimation
      $660,000
      3,731 SF

      786 Memorial Dr

      RESTAURANT • 3,731 SF
      786 Memorial Dr, Chicopee, MA 01020-5005
      View Details
    • Value Estimation by Request
      2,746 SF

      350 Burnett Rd

      RESTAURANT • 2,746 SF
      350 Burnett Rd, Chicopee, MA 01020-4628
      View Details
    • Value Estimation by Request
      3,233 SF

      340 Carew St

      RESTAURANT • 3,233 SF
      340 Carew St, Chicopee, MA 01020-3358
      View Details
    • Value Estimation by Request
      3,242 SF

      703 Grattan St

      RESTAURANT • 3,242 SF
      703 Grattan St, Chicopee, MA 01020-1253
      View Details
    • Value Estimation by Request
      6,001 SF

      1625 Memorial Dr

      RESTAURANT • 6,001 SF
      1625 Memorial Dr, Chicopee, MA 01020-3132
      View Details

    Similar Nearby for Sale

    • $159,900

      Turn-Key Bar & Restaurant Opportunity

      Established bar and restaurant with loyal customer base for sale.
      1747 Westover Rd, Chicopee, MA 01020
      View Details
    • $699,900

      Versatile Commercial Property with Elevator

      Commercial property featuring two units, parking, and renovation potential.
      52 Gladdu Ave, Chicopee, MA 01020
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    • $169,000
      6,500 SF

      Thriving Country Restaurant - Chicopee, MA

      Established Restaurant, Turnkey Opportunity, High Occupancy
      769 Burnett Rd, Chicopee, MA 01020
      View Details
    • Contact for pricing

      Versatile Commercial Space in Chicopee

      Commercial space suitable for retail or office use.
      5 Willow St, Chicopee, MA 01020
      View Details
    • Contact for pricing
      6,500 SF

      Retail Property in Chicopee, MA

      Retail property available for sale in Chicopee, Massachusetts.
      769 Burnett Rd, Chicopee, MA 01020
      View Details
    • Contact for pricing

      Commercial Office or Retail Space

      Three-story commercial building with updates, signage, and parking.
      1847 Memorial Dr, Chicopee, MA 01020
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,654 SF

      Former Restaurant Space Available

      Restaurant space for lease with high traffic visibility.
      467 Memorial Dr, Chicopee, MA 01020
      View Details
    • $19 SF/Yr
      19,732 SF

      Retail Space in Busy Center

      Retail spaces available in well-maintained shopping center with ample parking.
      70-90 Main St, Chicopee, MA 01020
      View Details
    • Contact for pricing
      16,200 SF

      Shopping Center Retail Space Available

      444,000 SF shopping center in Springfield/Chicopee market.
      59 Kirby St, Chicopee, MA 01020
      View Details
    • Contact for pricing
      65,340 SF

      Retail Space in Chicopee Center

      Retail opportunity in a busy, anchored shopping center.
      81 Kirby St, Chicopee, MA 01020
      View Details
    • Contact for pricing
      15,922 SF

      Retail Space in Chicopee Center

      Retail space available in a busy Chicopee shopping center.
      591 Memorial Dr, Chicopee, MA 01020
      View Details
    • Contact for pricing
      14,407 SF

      Retail Space Next to Big Y

      End-cap retail space available for sublease near Mass Pike.
      650 Memorial Dr, Chicopee, MA 01020
      View Details

    Property Visit Statistics

    • Visits by month
      103.8k
    • Visitors by month
      76.8k
    • Avg Time on site
      16 min
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    501 Memorial Dr
    Chicopee, MA 01020-5036
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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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