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    Property profile & analytics

    505 Memorial Dr Chicopee, MA 01020-5036

    • Grocery and convenience stores
    • 18,316 SF
    • 3.55 lot acres
    OFF-MARKET
    Value Estimation
    $485,000
    Last Sale
    Apr 15, 2022
    $450,000
    Location Intelligence
    Property ID
    US38-2135615
    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

    • ALDI / Supermarket / Grocery Store

    Property Details for 505 Memorial Dr

    Year built
    2012
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.55 lot acres
    Property size
    18,316 SF
    Zone code
    111A
    Property type
    Grocery and convenience stores
    APN
    CHIC M:0341 P:00004
    APU
    CHICM0341P00004

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $480,000

    • CAP approach

      CAP return
      Estimation
      6%
      $480,000
      6.5%
      $550,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $610,000
      Geo Method
      $550,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $455,000
      Retail
      $480,000
      Mixed-Use
      $455,000
      Hospitality
      $405,000
      Educational
      $490,000
      Residential Income
      $415,000
      Energy
      $465,000
      Income-Based Land
      $450,000
      Food Service
      $405,000

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5755
    Latitude
    42.1712
    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
    $73,199
    $1,127,000
    $1,176,300
    $2,303,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      65,080 SF

      678 Memorial Dr

      GROCERY, SUPERMARKET • 65,080 SF
      678 Memorial Dr, Chicopee, MA 01020
      View Details
    • Value Estimation by Request
      78,505 SF

      650th Memorial Dr

      GROCERY, SUPERMARKET • 78,505 SF
      650th Memorial Dr, Chicopee, MA 01020-5019
      View Details
    • Value Estimation
      $695,000
      2,240 SF

      1976 Memorial Dr

      FINANCIAL BUILDING • 2,240 SF
      1976 Memorial Dr, Chicopee, MA 01020-4306
      View Details
    • Value Estimation
      $305,000
      2,424 SF

      1283 Memorial Dr

      FINANCIAL BUILDING • 2,424 SF
      1283 Memorial Dr, Chicopee, MA 01020-3967
      View Details
    • Value Estimation
      $315,000
      4,800 SF

      460 New Ludlow Rd

      SHOW ROOM, WAREHOUSE • 4,800 SF
      460 New Ludlow Rd, Chicopee, MA 01020-4461
      View Details
    • Value Estimation
      $265,000
      2,340 SF

      643 Prospect St

      RETAIL STORES (PERSONAL SERVICES) • 2,340 SF
      643 Prospect St, Chicopee, MA 01020-3047
      View Details

    Similar Nearby for Sale

    • $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
    • $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
      View Details
    • $450,000

      Commercial Office/Retail Space on Corner

      Two buildings on a busy corner, suitable for multiple businesses.
      1839 &1847 Memorial Dr, 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
    • $300,000

      Commercial Office or Retail Space

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

    Similar Nearby for Lease

    • $24 SF/Yr
      800 SF

      Chicopee Falls Retail/Office Space

      800 SF retail or office space for lease.
      151 East St, Chicopee, MA 01020
      View Details
    • $8,000 /Mo
      4,000 SF

      Retail Space on Memorial Drive

      Retail space available with high traffic and signalized access.
      451-455 Memorial Dr, Chicopee, MA 01020
      View Details
    • $16 SF/Yr

      Versatile Retail Space Available

      1,800 sq ft retail space with high ceilings.
      55 Main St, Chicopee, MA 01020
      View Details
    • $8,000 /Mo

      Retail Space on Memorial Drive

      Retail space available with high traffic and signalized access.
      451 Memorial Dr, 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
      4,200 SF

      Springfield/Chicopee Retail Space Available

      4,200 SF retail space in a 444,000 SF shopping center.
      93 Kirby St, Chicopee, MA 01020
      View Details

    Property Visit Statistics

    • Visits by month
      37.5k
    • Visitors by month
      26.7k
    • Avg Time on site
      24 min
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    Chicopee, MA 01020-5036
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    Realmo Value Estimation

    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.

    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.

    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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