Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    51 Park Ave West Springfield, MA 01089-3386

    • Office buildings
    • 10,032 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2020
    $425,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1513357
    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

    • Lincare / Production Facility
    • Franco Joseph A / Law Firm
    • Kathleen L. Varner, MSW / Foster Care Service / Social Service Agency
    • Louis A. Gentile, PHD / Physician / Medical Clinic
    • Affiliated Psychotherapists / Doctor / Psychotherapist

    Property Details for 51 Park Ave

    Year built
    1971
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.31 lot acres
    Property size
    10,032 SF
    Property type
    Office buildings
    APN
    WSPR M:00422 B:00200 L:00027
    APU
    WSPRM00422B00200L00027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6168
    Latitude
    42.1064
    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
    $14,733
    $110,400
    $384,000
    $494,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $735,000
      9,000 SF

      69 Capital Dr

      OFFICE BUILDING • 9,000 SF
      69 Capital Dr, West Springfield, MA 01089-1344
      View Details
    • Value Estimation
      $1,210,000
      16,200 SF

      1 Interstate Dr

      OFFICE BUILDING • 16,200 SF
      1 Interstate Dr, West Springfield, MA 01089-4531
      View Details
    • Value Estimation
      $800,000
      12,512 SF

      1275 Elm St

      OFFICE BUILDING • 12,512 SF
      1275 Elm St, West Springfield, MA 01089-1820
      View Details
    • Value Estimation
      $1,465,000
      22,800 SF

      59 Interstate Dr

      OFFICE BUILDING • 22,800 SF
      59 Interstate Dr, West Springfield, MA 01089-5100
      View Details
    • Value Estimation
      $815,000
      12,600 SF

      63 Myron St

      OFFICE BUILDING • 12,600 SF
      63 Myron St, West Springfield, MA 01089-1582
      View Details
    • Value Estimation by Request
      2,646 SF

      389 Park St

      OFFICE BUILDING • 2,646 SF
      389 Park St, West Springfield, MA 01089-3348
      View Details

    Similar Nearby for Sale

    • $850,000
      8,217 SF

      West Springfield Office Building For Sale

      Office building with on-site parking and highway access.
      71 Park Ave, West Springfield, MA 01089
      View Details
    • Contact for pricing
      23,554 SF

      West Springfield Commercial Investment Opportunity

      Prime commercial real estate package with leaseback and redevelopment potential.
      225 Park Ave, West Springfield, MA 01089
      View Details
    • Contact for pricing
      17,424 SF

      West Springfield Executive Office Building

      17,424 SF office building with 105 parking spaces.
      150 Capital Dr, West Springfield, MA 01089
      View Details
    • $2,100,000
      23,554 SF

      Park Avenue Office Space Available

      Fifth floor office space for lease on Park Avenue.
      225 Park St, W Springfield, MA 01089
      View Details
    • $330,000
      1,064 SF

      Retail or Office Building For Sale

      Flexible building on a large lot, suitable for various uses.
      148 River St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      Pending

      Condominium Adjacent to Springfield CC

      Meticulously maintained 2BR, 2.5BA condo with nearly 2200sqft living space.
      36 Shady Brk, West Springfield, MA 01089
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      5,884 SF

      Freestanding Office Building For Rent

      Single tenant office/retail building with high visibility available for lease.
      229 Park St, W Springfield, MA 01089
      View Details
    • Contact for pricing
      1,863 SF

      West Springfield Office Space Available

      Professional office suite in a centrally located building.
      201 Park Ave, West Springfield, MA 01089
      View Details
    • Contact for pricing

      West Springfield Warehouse with Rail

      Sub-dividable warehouse with CSX rail access and high power.
      26 Sears Way, West Springfield, MA 01089
      View Details
    • Contact for pricing
      2,600 SF

      West Springfield Office Space Available

      2600 sq ft office space for rent.
      117 Park Ave, West Springfield, MA 01089
      View Details
    • Contact for pricing
      1,550 SF

      West Springfield Retail/Office Space

      Retail or office space with high visibility on Main Street.
      436 Main St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      25,000 SF

      High-End Office, Flex, Life Science

      Executive suites with flexible buildout options and scenic views.
      11 Interstate Dr, West Springfield, MA 01089
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    51 Park Ave
    West Springfield, MA 01089-3386
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!