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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Retail space
879 Boston Rd Springfield, MA 01119-1318
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-0106337
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Total area
6,116 SF
Lot
0.37 ac (16,026 SF)
Zoning code
B1
APN
SPRI S:01655 P:0597
UPID
US38-0106337
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
-
Wilbraham Appliance Service Home Appliance Store
-
Iglesia C.A.P.E.C. Church Mosque
-
Signarama Springfield, MA (Bike/Boat/Book/etc) Store Printing Service
-
Mr Tint of Springfield - Vinyl Wraps/Paint Protection Film Interior Design Auto Repair Shop
-
M&J Illumination sound center LLC Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$372k
Blend (final)
Blend
$600k
Owner & transaction history
Noorzad Realty LLC · 2 yrs held
Noorzad Realty LLC
since 2024
Last sale
$600,000
6 recorded transactions
Zoning & alternative use
B1 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$995,000
+138.9%
Auto repair, garage
$795,000
+90.7%
Restaurant
$525,000
+26.2%
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
$600,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$415,000
Current use
OFFICE BUILDING
$995,000
Change: +139% · Conversion: Easy
AUTO REPAIR, GARAGE
$795,000
Change: +91% · Conversion: Difficult
RESTAURANT
$525,000
Change: +26% · Conversion: Easy
COMMERCIAL (GENERAL)
$485,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $600k (May 2 2024)
Last sale anchor
$600k
May 2 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
$98 / 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
$18,531
Tax year 2023
Assessed value
$509,100
Assessed 2023
Previous assessed
$509,100
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$161,600
Assessed improvement
$347,500
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1955
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
8
Bathrooms
2
Total area
6,116 SF
Lot
0.37 ac (16,026 SF)
Zoning code
B1
APN
SPRI S:01655 P:0597
UPID
US38-0106337
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
RETAIL STORES Current
Est. value
$415,000
OFFICE BUILDING
Est. value
$995,000
AUTO REPAIR, GARAGE
Est. value
$795,000
RESTAURANT
Est. value
$525,000
COMMERCIAL (GENERAL)
Est. value
$485,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
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
1955
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
8
Bathrooms
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
Noorzad Realty LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1576 STATE ST, SPRINGFIELD, MA 01109-2540
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2024
$600,000
Noorzad Realty LLC
Boston Road Assoc LLC
Deed
—
Sep 19, 2018
$375,000
Boston Road Assoc LLC
Sarrette,kevin A
Quit Claim Deed
$464,400 · Bank Of America
Mar 2, 1992
$25,000
Kevin A Sarrette
Tujague,henry A
Grant Deed
—
Jan 5, 1989
$375,000
Henry A Tujague
Williams,douglas
Grant Deed
$300,000 · Ne Allbank For Svgs
Aug 24, 1988
—
Douglas M Williams
—
Deed Of Trust
related
$12,000 · Heritage/nis Bkforsvg
Nov 20, 1987
—
Douglas M Williams
—
Deed Of Trust
related
$175,000 · Shawmut First Bk & Tr
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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