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    Property profile & analytics

    505 Grattan St Chicopee, MA 01020-1548

    • Investment properties
    • 2,734 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Jan 15, 2020
    $280,000
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1336547
    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

    • D&N Nail Salon / Nail Salon

    Property Details for 505 Grattan St

    Year built
    1923
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    2,734 SF
    Zone code
    106
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    CHIC M:0336 P:00043
    APU
    CHICM0336P00043

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $275,000
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $233,000
      Market price range: $142k - $325k
      AI Estimate
      $235,000
      Market price range: $114k - $325k

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5955
    Latitude
    42.1695
    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
    $105,900
    $171,900
    $277,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $270,000
      7,330 SF

      13 Dl St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,330 SF
      13 Dl St, Chicopee, MA 01020-1232
      View Details
    • Value Estimation
      $305,000
      0.44 Acres

      55 Fuller Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 0.44 Acres
      55 Fuller Rd, Chicopee, MA 01020-3701
      View Details
    • Value Estimation
      $270,000
      0.36 Acres

      155 Ee St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.36 Acres
      155 Ee St, Chicopee, MA 01020-3447
      View Details
    • Value Estimation
      $330,000
      5,176 SF

      159 Broadway St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,176 SF
      159 Broadway St, Chicopee, MA 01020-2618
      View Details
    • Value Estimation
      $265,000
      1,905 SF

      554 Grattan St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,905 SF
      554 Grattan St, Chicopee, MA 01020-1545
      View Details
    • Value Estimation
      $260,000
      2,473 SF

      543 Grattan St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,473 SF
      543 Grattan St, Chicopee, MA 01020-1561
      View Details

    Similar Nearby for Sale

    • $475,000

      Mixed-Use Property with Apartments

      Multi-use property featuring apartments above a popular variety store.
      438 Front St, Chicopee, MA 01020
      View Details
    • $675,000
      2.40 Acres

      Chicopee Commercial Land - Great Highway Access

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    • $650,000
      0.32 Acres

      Thriving Chicopee Barber Shop Business

      Established Salon, High Traffic Area, Includes Business
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    • $290,000

      Mixed-Use Property in Cuenca, Ecuador

      Mixed-use property with commercial spaces and apartments in Cuenca, Ecuador.
      9 Cuenca Ecuador, Chicopee, MA 01020
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    • $3,300,000
      55,080 SF

      Warehouse with Renovated Office Space

      50,080 SF warehouse/distribution facility near Springfield, Massachusetts.
      755 New Ludlow Rd, Chicopee, MA 01020
      View Details
    • $2,000,000
      9,923 SF

      Commercial Property with Income Potential

      9,923 SF commercial property for sale with income-generating tenants.
      1329 Memorial Dr, Chicopee, MA 01020
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      45,334 SF

      Chicopee Industrial Space Available

      Versatile flex space, warehouse, & cold storage.
      30 Buckley Blvd, 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
      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
      3,654 SF

      Former Restaurant Space Available

      Restaurant space for lease with high traffic visibility.
      467 Memorial Dr, Chicopee, MA 01020
      View Details
    • Contact for pricing
      15,000 SF

      New Construction Industrial Flex-Space

      New construction industrial flex-space available for lease in Spring 2026.
      821 E Main St, Chicopee, MA 01020
      View Details
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    505 Grattan St
    Chicopee, MA 01020-1548
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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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