Springfield, MA
Commercial Real Estate Market Trends & Data

$137 Avg asking sale price
$731 Avg asking lease rate
19,709 SF Avg unit lease size
24,017 SF Avg building size for sale
9.63% Average cap rate

Springfield's Demographic Profile

Springfield has 57,402 households and a median income of $44,475, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 152,138
# Households 57,402
Median age 35
Median household income $44,475
Avg household size 3.0
Renter-occupied housing units 30,213
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Springfield, MA

↻ Updated Monthly

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Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Springfield $93 39,729 SF 7.18%
Chicopee $113 53,023 SF 20.00%
West Springfield $77 46,017 SF 7.18%
Nearby Retail Markets Avg Cost/SF Typical Size
Springfield $201 22,636 SF
Indian Orchard $155 14,363 SF
Chicopee $98 14,847 SF
East Longmeadow $185 8,078 SF
Longmeadow $184 4,253 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Springfield $66 4,257 SF 13.30%
Longmeadow $246 61,334 SF 6.44%
West Springfield $66 6,026 SF 13.30%
Holyoke $145 33,576 SF 10.00%

Commercial Properties For Sale in Springfield

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Main Street

Indian Orchard, MA

  • Retail Building
  • $2,100,000
For Sale

0 Apple Blossom Lane

East Longmeadow, MA 01028

  • 29.12 AC Lot
  • 1 Commercial Lot
  • $699,900
For Sale

1151-1159 State St

Springfield, MA 01109

  • 12,250 SF Flex Building
  • $550,000
For Sale

2 Weston St

Wilbraham, MA 01095

  • 2,600 SF Retail Building
  • $300,000
For Sale

Valentine Mansion

Springfield, MA 01105

  • 11,102 SF Hospitality
  • $1,150,000
For Sale

732 Elm St

West Springfield, MA 01089

  • 7,987 SF Retail Building
  • $699,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Springfield pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Springfield $137 24,017 SF
Indian Orchard $136 20,615 SF
Chicopee $115 28,709 SF
East Longmeadow $177 5,739 SF
Longmeadow $149 86,877 SF

Regional Demographic Comparison

This comparison places Springfield alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Springfield or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Springfield 152,138 57,402 35 $44,475 3 30,213 -2%
Indian Orchard 8,913 3,402 35 $48,421 3 1,967 -2%
Chicopee 53,673 23,279 41 $58,192 2 10,051 -2%
East Longmeadow 16,687 6,231 45 $96,163 3 890 -1%
Longmeadow 15,595 5,659 45 $140,160 3 626 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Springfield, MA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Springfield

View All Commercial Real Estate For Sale in Springfield
Is Springfield a good market for a first-time commercial real estate investor?

Springfield offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Springfield?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Springfield. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Springfield?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Springfield. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Springfield compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Springfield. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Springfield acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Springfield, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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