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

    510 Parker St Springfield, MA 01129-1069

    • Super regional malls
    • 51,369 SF
    • 4.93 lot acres
    OFF-MARKET
    Value Estimations
    $1,020,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0720049
    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

    • Dollar Tree / Craft Store / Dollar Store
    • AutoZone Auto Parts / Car Battery Store / Tool Rental Service
    • Springfield Center / Gym
    • Planet Fitness / Gym / Tanning Salon
    • DOLLAR TREE / Toy Store / Craft Store

    Property Details for 510 Parker St

    Year built
    1973
    Lot size
    4.93 lot acres
    Property size
    51,369 SF
    Zone code
    B1
    Property type
    Super regional malls
    APN
    SPRI S:09510 P:0220
    APU
    SPRIS09510P0220

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,204,000
      Market price range: $761k - $2.55M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,440,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.4969
    Latitude
    42.1399
    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
    2023
    $119,599
    $1,859,600
    $1,426,100
    $3,285,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $895,000
      50,427 SF

      1690 Boston Rd, Unit 1706

      REGIONAL SHOPPING CENTER, MALL • 50,427 SF
      1690 Boston Rd, Springfield, MA 01129-1153
      View Details
    • Value Estimation by Request
      8,360 SF

      1760 Boston Rd

      REGIONAL SHOPPING CENTER, MALL • 8,360 SF
      1760 Boston Rd, Springfield, MA 01129-1160
      View Details
    • Value Estimation
      $2,475,000
      139,292 SF

      1560 Boston Rd

      REGIONAL SHOPPING CENTER, MALL • 139,292 SF
      1560 Boston Rd, Springfield, MA 01129-1140
      View Details
    • Value Estimation
      $850,000
      31,099 SF

      1941 Wilbraham Rd, Unit 1951

      REGIONAL SHOPPING CENTER, MALL • 31,099 SF
      1941 Wilbraham Rd, Springfield, MA 01129-1822
      View Details
    • Value Estimation
      $10,850,000
      73,292 SF

      1522 Boston Rd, Unit 1530

      REGIONAL SHOPPING CENTER, MALL • 73,292 SF
      1522 Boston Rd, Springfield, MA 01129-1140
      View Details
    • Value Estimation
      $770,000
      17,691 SF

      288 Verge St

      SHOW ROOM, WAREHOUSE • 17,691 SF
      288 Verge St, Springfield, MA 01129-1123
      View Details

    Similar Nearby for Sale

    • $5,500,000

      Established Restaurant Business and Property

      Profitable Golden Corral franchise with real estate for sale.
      436 Parker St, Springfield, MA 01129
      View Details
    • $3,990,000
      9,000 SF

      Springfield Retail Portfolio: Triple Net Lease

      High-Yield Retail Investment in Springfield, MA
      1349 Boston Rd, Springfield, MA 01129
      View Details
    • $1,200,000
      2,304 SF

      Springfield Retail Property For Sale

      2,304 SF retail property in Sixteen Acres neighborhood.
      1930 Wilbraham Rd, Springfield, MA 01129
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      366,417 SF

      Springfield Crossing Retail Center

      Massive Retail Space Available in Springfield, MA
      1655 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      25,207 SF

      Lowe's Plaza: Springfield Retail Space

      Prime Springfield Retail Opportunity: 25,207 SF Available
      1522 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing

      Retail Space in Springfield Plaza

      Retail space available in a busy shopping center.
      1522 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      15,292 SF

      Freestanding Building in Prime Location

      15,292 SF freestanding building available for lease or ground lease.
      1440 Boston Rd, Springfield, MA 01129
      View Details
    • Contact for pricing
      2,652 SF

      Freestanding Building With Drive-Thru

      Freestanding building with drive-thru, multiple uses allowed.
      1780 Boston Rd, Springfield, MA 01129
      View Details

    Property Visit Statistics

    • Visits by month
      33.8k
    • Visitors by month
      22.7k
    • Avg Time on site
      19 min
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    510 Parker St
    Springfield, MA 01129-1069
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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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