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Property profile & analytics
OFF-MARKET
Estimated value
$1,160,000
Office buildings
55 State St, Springfield, MA 01103-2007
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0762171
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1958
Total area
34,112 SF
Lot
0.2 ac (8,777 SF)
Zoning code
B3
APN
SPRI S:11110 P:0658
UPID
US38-0762171
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Venture Lines LLC Travel Agency Tour Operator
-
55 State Lot (Propark) Parking Lot & Garage
-
EcoGen America Solar Energy Company
-
Boston Neurobehavioral Associates Physician
-
Charney Scott J Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.16M
Owner & transaction history
State Street 55 LLC · 3 yrs held
State Street 55 LLC
since 2022
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
B3 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,080,000
ML approach
$1,305,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.16M
Range $1.04M – $1.28M · ±10% · vs last sale $1.13M (Oct 20 2022)
Last sale anchor
$1.13M
Oct 20 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$34 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$33,346
Tax year 2023
Assessed value
$916,100
Assessed 2023
Previous assessed
$916,100
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$171,300
Assessed improvement
$744,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1958
Heating
FORCED AIR
Buildings
1
Stories
3
Rooms
6
Bathrooms
2
Total area
34,112 SF
Lot
0.2 ac (8,777 SF)
Zoning code
B3
APN
SPRI S:11110 P:0658
UPID
US38-0762171
Jurisdiction
SPRINGFIELD
Zoning & alternative use
B3 · Springfield, MA
Zoning B3 · permitted uses
B3 · Springfield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Springfield. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Heating
FORCED AIR
Stories
3
Buildings
1
Rooms
6
Bathrooms
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
State Street 55 LLC
Entity
Mailing address
55 STATE ST, SPRINGFIELD, MA 01103-2007
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2022
$1,130,000
State Street 55 LLC
Briarwood Thirteen LLC
Quit Claim Arm's Length For Ne States
—
Mar 26, 2013
—
Progressive Cmnty Baptist
—
Deed Of Trust
related
$398,338 · Peoples Bank
Mar 7, 2011
$1,130,000
Briarwood 13 LLC
55 State Street LLC
Grant Deed
$847,500 · Holyoke Cu
Jan 16, 2003
$1,000,000
55 State Street LLC
Burack,daniel S
Grant Deed
$750,000 · Country Bank
Oct 18, 1996
—
Cabotville Industrl Pk
—
Deed Of Trust
related
$1,180,000 · Bank Of Western Massachusetts
Mar 4, 1994
$70,000
Cabotville Indstrl Pk
55 State St T
Grant Deed
—
May 24, 1990
—
55 State St T
—
Deed Of Trust
related
$521,000 · Bank Of New Eng, West
Sep 27, 1988
—
55 State St Trust
—
Deed Of Trust
related
$1,000,000 · Bank Of New Eng, West
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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