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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Investment properties
685 State St Springfield, MA 01109-4118
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0320348
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1895
Total area
20,487 SF
Lot
0.17 ac (7,532 SF)
Zoning code
B1
APN
SPRI S:11110 P:0516
UPID
US38-0320348
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$1.41M
Owner & transaction history
Lima & Co LLC · 1 yrs held
Lima & Co LLC
since 2024
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
B1 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+8.7%
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
$1,410,000
ML approach
$1,410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,615,000
Current use
RESTAURANT
$1,760,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$1,395,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±10% · vs last sale $1.41M (Oct 28 2024)
Last sale anchor
$1.41M
Oct 28 2024
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
$69 / 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
Assessed value
$867,300
Assessed 2023
Previous assessed
$867,300
+0.0% YoY
Assessed land
$136,500
Assessed improvement
$730,800
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1895
Heating
STEAM
Buildings
1
Stories
4
Units
15
Bathrooms
3
Total area
20,487 SF
Lot
0.17 ac (7,532 SF)
Zoning code
B1
APN
SPRI S:11110 P:0516
UPID
US38-0320348
Jurisdiction
SPRINGFIELD
Zoning & alternative use
B1 · Springfield, MA
Zoning B1 · permitted uses
B1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
RESTAURANT
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1895
Heating
STEAM
Stories
4
Buildings
1
Units
15
Bathrooms
3
Lot
0.17 ac
Current owner
From public records · entity-resolved
Lima & Co LLC
Entity
Mailing address
268 COLD SPG AVEB, WEST SPRINGFIELD, MA 01089-3465
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2024
$1,410,000
Lima & Co LLC
Nolava LLC
Deed
$1,128,000 · Liberty Bay Credit Union
Oct 27, 2023
$6,250,000
Nolava LLC
Sprfield Gdns Spk Owner L
Quit Claim Arm's Length For Ne States
$5,240,000 · Chelsea Groton Bank
Sep 15, 2021
—
Sprfield Gdns Spk Owner
Sprfield Portfolio Hldg
Quit Claim Deed
related
$5,346,000 · Corevest American Finance
Aug 31, 2020
$1,700,000
Belmont State LLC
Jasnia Realty LLC
Quit Claim Arm's Length For Ne States
$1,550,000 · Ymk Investments LLC
Aug 17, 2017
$500,000
Jasnia Realty LLC
Springfield Homes LLC
Quit Claim Arm's Length For Ne States
$908,000 · Greenfield Cp Bk
Feb 21, 2012
$320,000
Springfield Homes LLC
Western Mass Funding Corp
Grant Deed
—
Aug 23, 2011
$247,500
Western Mass Funding Corp
Kaveh Realty Co INC
Grant Deed
—
Mar 17, 2004
$560,000
Kaveh Realty Co INC
683 State Street RT
Grant Deed
$420,000 · Bank Of Western Massachusetts
Nov 1, 2002
$190,000
683 State RT
Shenas,william J
Grant Deed
$152,000 · Monson Savings Bank
May 13, 1994
—
William J Shenas
—
Deed Of Trust
related
$90,000 · Springfield City (oh)
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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