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674-678 Dickinson St 3,075 SF 100% Leased Retail Building Springfield, MA 01108 $475,000 ($154.47/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully Leased
- 9.5% Cap Rate
EXECUTIVE SUMMARY
Four-unit, fully leased retail commercial property
Tenants:
• Unit 1: Insurance (250 sqft, $810/month)
• Unit 2: Property Management (780 sqft, $1,350/month)
• Unit 3: Restaurant (1,296 sqft, $1,645/month)
• Unit 4: Nail Salon (780 sqft, $1,175/month)
Completely renovated within past 15 years:
• Gutted from floors to ceiling
• New electric, plumbing, insulation, sheetrock, walls, and floors
• Each unit with individual electric and gas meters
Unit 3 features full commercial kitchen:
• Includes sinks, venting, oil traps, and Ansul system
• Equipment purchased and professionally installed 12-15 years ago, included in sale
Tenants:
• Unit 1: Insurance (250 sqft, $810/month)
• Unit 2: Property Management (780 sqft, $1,350/month)
• Unit 3: Restaurant (1,296 sqft, $1,645/month)
• Unit 4: Nail Salon (780 sqft, $1,175/month)
Completely renovated within past 15 years:
• Gutted from floors to ceiling
• New electric, plumbing, insulation, sheetrock, walls, and floors
• Each unit with individual electric and gas meters
Unit 3 features full commercial kitchen:
• Includes sinks, venting, oil traps, and Ansul system
• Equipment purchased and professionally installed 12-15 years ago, included in sale
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$59,760
|
$19.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$59,760
|
$19.43
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$14,478
|
$4.71
|
| Net Operating Income |
$45,282
|
$14.73
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $59,760 |
| Annual Per SF | $19.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $59,760 |
| Annual Per SF | $19.43 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $14,478 |
| Annual Per SF | $4.71 |
| Net Operating Income | |
|---|---|
| Annual | $45,282 |
| Annual Per SF | $14.73 |
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,075 SF
Building Class
C
Year Built/Renovated
1920/2006
Price
$475,000
Price Per SF
$154.47
Cap Rate
9.50%
NOI
$45,125
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.47
Lot Size
0.15 AC
Zoning
B1
Frontage
93’ on Dickinson St
AMENITIES
- Bus Line
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Avellino Pizzaria
- Accommodation and Food Services
- -
- -
- -
- Presto Digital Transfer
- Information
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Avellino Pizzaria | Accommodation and Food Services | - | - | - | ||
| Presto Digital Transfer | Information | - | - | - |
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | SPRI-003910-000000-000178 | Improvements Assessment | $212,400 (2025) |
| Land Assessment | $63,800 (2025) | Total Assessment | $276,200 (2025) |
PROPERTY TAXES
Parcel Number
SPRI-003910-000000-000178
Land Assessment
$63,800 (2025)
Improvements Assessment
$212,400 (2025)
Total Assessment
$276,200 (2025)
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674-678 Dickinson St
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