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    938 Chicopee St Chicopee, MA 01013-2756
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    Property profile & analytics

    938 Chicopee St Chicopee, MA 01013-2756

    View on Map
    • Specialty properties
    • 7,088 SF
    • 1.04 lot acres
    Off-Market
    Property ID
    US38-0547397
    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.
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Our Fathers House Ministry Center / Church / Mosque
    • Healing Room of Chicopee / Church / Mosque
    • Food Distribution Center - Our Father's House / Food Bank / Charitable Organization
    • Templo Pentecostal Fuego Inc / Church

    Property Details for 938 Chicopee St

    Year built
    1959
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.04 lot acres
    Property size
    7,088 SF
    Zone code
    113
    Property type
    Specialty properties
    APN
    CHIC M:0604 P:00028
    APU
    CHICM0604P00028

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $538,000
      Market price range: $263k - $1.03M
      AI Estimate
      $619,000
      Market price range: $309k - $1.09M

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $615,000
      Current use
      RESTAURANT
      $950,000
      Change: +54% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $735,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $650,000
      Change: +6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $615,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6031
    Latitude
    42.1908
    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
    2024
    $0.00
    $105,000
    $719,900
    $824,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      57,459 SF

      134 Springfield St

      Schools • 57,459 SF
      134 Springfield St, Chicopee, MA 01013
      View Details
    • Value Estimation by Request
      3,623 SF

      517 Chicopee St

      CHARITABLE ORGANIZATION • 3,623 SF
      517 Chicopee St, Chicopee, MA 01013-2157
      View Details
    • Value Estimation by Request
      2,670 SF

      18 Polaski Ave

      CHARITABLE ORGANIZATION • 2,670 SF
      18 Polaski Ave, Chicopee, MA 01013-1028
      View Details
    • Value Estimation by Request
      2,808 SF

      187 Fairview Ave

      CHARITABLE ORGANIZATION • 2,808 SF
      187 Fairview Ave, Chicopee, MA 01013-2923
      View Details
    • Value Estimation
      $1,710,000
      30,456 SF

      35 Mt Carmel Ave

      CHARITABLE ORGANIZATION • 30,456 SF
      35 Mt Carmel Ave, Chicopee, MA 01013-4113
      View Details
    • Value Estimation by Request
      714 SF

      90 Mckinstry Ave, Unit 206

      CHARITABLE ORGANIZATION • 714 SF
      90 Mckinstry Ave, Chicopee, MA 01013-4813
      View Details

    Similar Nearby for Sale

    • $349,900
      Pending

      Chicopee Two-Family Property

      Well-maintained two-family property with updated first-floor unit.
      621 Chicopee St, Chicopee, MA 01013
      View Details
    • Contact for pricing
      21,706 SF

      Chicopee Office Space Available

      Office property for sale in Chicopee, Massachusetts.
      43-57 Springfield St, Chicopee, MA 01013
      View Details
    • Contact for pricing
      4,483 SF

      Turnkey Three-Family Investment Opportunity

      Renovated three-family property with strong income and owner-occupant potential.
      748 Grattan St, Chicopee, MA 01013
      View Details
    • Contact for pricing
      4,483 SF

      Turnkey Three-Family Investment Opportunity

      Renovated three-family property with strong income and owner-occupant potential.
      748 Grattan St, Chicopee, MA 01013
      View Details
    • Contact for pricing

      Vacant Lot For Sale

      Vacant, flat, cleared 9118 sq. ft. lot.
      School St, Chicopee, MA 01013
      View Details
    • $950,000
      10,301 SF

      Retail Property in Central Business

      Retail property with high visibility in a prime location.
      200 Exchange St, Chicopee, MA 01013
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Educational Facility For Lease

      57,459 SF educational facility near center of Chicopee.
      134 Springfield St, Chicopee, MA 01013
      View Details
    • $9 SF/Yr
      156,000 SF

      New Industrial Build-to-Suit Opportunity

      Proposed 156,000 SF industrial building for lease in Chicopee.
      521 Meadow St, Chicopee, MA 01013
      View Details
    • $16 SF/Yr

      Front Street Office Space Available

      Office space for rent with high-visibility frontage on Front Street.
      328 Front St, Chicopee, MA 01013
      View Details
    • $18 SF/Yr
      1,379 SF

      Chicopee Office Space For Lease

      Second floor office space in downtown Chicopee with on-site parking.
      35 Center St, Chicopee, MA 01013
      View Details
    • $18 SF/Yr

      Downtown Chicopee Office Space Available

      Second floor office space for lease in downtown Chicopee.
      35 Center St, Chicopee, MA 01013
      View Details
    • $16 SF/Yr

      Front Street Office Space Available

      800 SF office space for rent on Front Street.
      328 Front St, Chicopee, MA 01013
      View Details
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    Chicopee, MA 01013-2756
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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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