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Property profile & analytics
FOR LEASE
Retail properties & Spaces
650 Memorial Dr Chicopee, MA 01020
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US38-1324025
For Lease
1 / 2
$18 SF/Yr
650 Memorial Dr, Chicopee, MA 01020
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Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
105,780 SF
Lot
11.3 ac (492,228 SF)
Zoning code
111A
APN
CHIC M:0396 P:00001
UPID
US38-1324025
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
-
Big Y Floral (Bike/Boat/Book/etc) Store Florist
-
BJ's Wholesale Club Big Box & Wholesale Store Grocery & Convenience Store
-
Big Y Butcher Take-out & Catering Butcher
-
Coinstar Currency Exchange Service Atm
-
BJ's Optical Ophthalmologist (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.36M
Blend (final)
Blend
$5.34M
Owner & transaction history
Oreo Farm LP · 23 yrs held
Oreo Farm LP
since 2003
6 recorded transactions
Zoning & alternative use
111A · Chicopee, 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 Chicopee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicopee 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.34M
Range $4.81M – $5.87M · ±10%
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
$50 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$219,476
Tax year 2024
Assessed value
$6,906,100
Assessed 2024
Previous assessed
$6,906,100
+0.0% YoY
Effective rate
3.18%
On assessed value
Assessed land
$2,730,400
Assessed improvement
$4,175,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
105,780 SF
Lot
11.3 ac (492,228 SF)
Zoning code
111A
APN
CHIC M:0396 P:00001
UPID
US38-1324025
Jurisdiction
CHICOPEE
Zoning & alternative use
111A · Chicopee, MA
Zoning 111A · permitted uses
111A · Chicopee, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chicopee. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
11.3 ac
Current owner
From public records · entity-resolved
Oreo Farm LP
Entity
Mailing address
25 RESEARCH DR, WESTBOROUGH, MA 01581-3680
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2003
—
David J Topor
—
Deed Of Trust
related
$990,000 · Bay Colony Dev Corp
Mar 17, 2003
$1
Oreo Farm LP
Oreo Farm LP
Grant Deed
related
—
Aug 22, 2000
$415,000
Raymond J Lapointe
Sheese,ralph
Grant Deed
—
Apr 29, 1999
$500,000
Ralph Sheese
Ri Hillcroft INC
Grant Deed
—
Jun 21, 1991
—
Ralph Sheese
—
Deed Of Trust
related
$3,750,000 · Monumental Life Ins
Nov 6, 1990
$5,050,000
Eugene M Setel
Chicopee Corp
Grant Deed
$3,900,000 · Zuckerman Family Nomi
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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