181-187 Chestnut St, Springfield MA 01103
Springfield, MA 01103
$1,980,000
Est. $11,963/month
Estimate assumptions
20% down, a 30-year loan at 6.5%, and $200/month estimated insurance.
Includes the supplied property-tax and HOA inputs; missing inputs contribute $0. HOA fees with an unspecified frequency are treated as monthly. PMI and closing costs are excluded.
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About this home
Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield’s downtown Business Improvement District. The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic brick building has undergone significant renovation and offers an attractive combination of residential and commercial income. The building is fully sprinklered, with separate utilities, beautifully maintained common areas, high ceilings, oversized windows and excellent Chestnut Street visibility. The location continues to strengthen. The Commonwealth has selected nearby 125 Liberty Street for the new Roderick L. Ireland Regional Justice Center, a major long-term investment in this section of downtown Springfield. The courthouse site is only several blocks from the property and is visible from the building, creating a compelling opportunity for an investor to own income-producing real estate in the path of significant public investment. The property is also convenient to Union Station, downtown employers, restaurants, entertainment and major regional transportation routes. With a diversified rent roll consisting of eight residential units and three established commercial tenants, 181–187 Chestnut offers investors an opportunity to acquire a stabilized mixed-use asset with strong current income and a location positioned to benefit from continued downtown investment.11 Units | 3 Commercial + 8 Residential | $183,000 potential Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.
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Property History
Property Timeline
Listed for Sale
Sep 17, 2026
$1,980,000
Original listing
Agent: Anthony Ardolino
Office: Berkshire Hathaway HomeServices Realty Professionals
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/17/2026 | 🏠 Listed for Sale | $1,980,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $21,013 | — |
Financial Details
Annual Property Tax
$21,013
Tax Year 2026
Facts & Features
Home Facts
Type
Commercial Sale
Year Built
1875
Lot Size
0.12 acres
Investment Metrics
Gross Income
$183,000
Net Operating Income
$144,038
Operating Expenses
$38,963
Cap Rate
7.27%
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
None
Architecture
None
Roof
None
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
None
Water
None
Sewer
None
Gas
None
Other
Public Water, Public Sewer
Financial
Annual Tax
$21,013
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
All Financials Are As Per Owner. Buyer And Buyers Agent To Verify All Information. Seller Intends To Complete A 1031 Tax-deferred Exchange. Buyer To Cooperate With Seller’s 1031 Exchange
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Documents
None
County
Hampden
Property Overview
Listing Type
For Sale
Year Built
1875
Floor Layout
Interactive room guide
Floor Layout
Display Options
Room Markers
OOffice (1)
KKitchen (1)
BRBedroom (5)
BABathroom (4)
DDining (1)
LLiving (2)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1875
Structure Type:
Exterior Materials:
Roof:
Foundation:
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Springfield School District local
D
Where Graduates Go
Class of 2021
36%
attend college
20%
4-Year
16%
2-Year
3%
Out of State
3%
Working
School Safety
2024-25
5.9%
Above Average
5.1%
Suspensions
1.4%
In-School
0.8%
Emergency
0.4% above state avg
Elementary Schools
10 schools
Your Educational Success Academy
0.5 mi
Grades K-12
A
Alfred G. Zanetti Montessori Magnet School
1.0 mi
|
#3 of 16
|
Score: 47.5
Improved 137 spots from last year
-10.7 below state avg
436 students
Diverse
Rising School
Grades PK-08
B
Veritas Preparatory Charter School
1.1 mi
|
#12 of 25
|
Score: 34.5
Improved 339 spots from last year
-23.8 below state avg
769 students
Moderate
Early College Program
Rising School
Grades 05-12
D
The Springfield Virtual School
1.8 mi
|
#326 of 346
|
Score: 30.7
Improved 11 spots from last year
-27.5 below state avg
201 students
Moderate
College Ready Curriculum
Grades PK-12
Academy Hill School
2.0 mi
Grades PK-08
St. Michael's Academy
2.7 mi
Grades PK-08
Grace Academy
3.0 mi
Grades K-12
A+
Springfield Preparatory Charter School
3.1 mi
|
#2 of 16
|
Score: 48.5
Improved 94 spots from last year
-9.8 below state avg
485 students
Moderate
Rising School
Strong Attendance
Grades K-08
Pioneer Valley Christian Academy
3.8 mi
Grades PK-12
Pioneer Valley Montessori School
4.8 mi
Grades PK-06
Middle Schools
10 schools
C
John J. Duggan Middle School
3.3 mi
|
#251 of 346
|
Score: 47.1
Improved 35 spots from last year
-11.1 below state avg
843 students
Diverse
High Graduation Rate
Rising School
College Ready Curriculum
Grades 06-12
F
South End Middle School
0.8 mi
|
#350 of 352
|
Score: 23.0
Improved 12 spots from last year
-35.2 below state avg
176 students
Moderate
Grades 06-08
Springfield Commonwealth Academy
0.9 mi
Grades 06-08
Springfield Middle School
1.2 mi
15 students
Moderate
Grades 06-08
F
Springfield Public Day Middle School
1.2 mi
|
#352 of 352
|
Score: 19.5
Improved 14 spots from last year
-38.7 below state avg
45 students
Diverse
Grades 06-08
D
Springfield Legacy Academy
1.3 mi
|
#16 of 16
|
Score: 18.8
Improved 340 spots from last year
-39.4 below state avg
243 students
Less Diverse
Rising School
Grades 06-08
C
Impact Prep at Chestnut
1.3 mi
|
#13 of 16
|
Score: 23.7
Improved 350 spots from last year
-34.5 below state avg
314 students
Moderate
Rising School
Grades 06-08
B
Chestnut Accelerated Middle School (Talented and Gifted)
1.3 mi
|
#162 of 352
|
Score: 43.2
Dropped 9 spots from last year
-15 below state avg
291 students
Diverse
Strong Attendance
Grades 06-08
F
Forest Park Middle School
2.0 mi
|
#341 of 352
|
Score: 26.3
Improved 18 spots from last year
-31.9 below state avg
460 students
Diverse
Grades 06-08
C-
Van Sickle Prep School
2.0 mi
|
#15 of 16
|
Score: 21.0
Improved 330 spots from last year
-37.2 below state avg
207 students
Moderate
Rising School
Grades 06-08
High Schools
10 schools
C+
Libertas Academy Charter School
< 0.1 mi
|
#238 of 346
|
Score: 48.5
Improved 106 spots from last year
-9.8 below state avg
592 students
Moderate
7 sports
• 134 athletes
Rising School
Grades 06-12
C-
Conservatory of the Arts
0.5 mi
|
#303 of 346
|
Score: 37.6
Improved 2 spots from last year
-20.6 below state avg
292 students
Moderate
High Graduation Rate
College Ready Curriculum
Grades 06-12
C
Emergence Academy
0.7 mi
|
#21 of 25
|
Score: 26.2
Improved 356 spots from last year
-32 below state avg
376 students
Diverse
Rising School
Diverse Student Body
Grades 06-12
C
The Springfield Renaissance School an Expeditionary Learning School
2.0 mi
|
#275 of 346
|
Score: 45.0
Improved 6 spots from last year
-13.2 below state avg
596 students
Diverse
High Graduation Rate
College Ready Curriculum
Grades 06-12
C-
Baystate Academy Charter Public School
3.0 mi
|
#306 of 346
|
Score: 37.1
Improved 37 spots from last year
-21.1 below state avg
344 students
Diverse
Rising School
College Ready Curriculum
Grades 06-12
B+
Gateway to College at Springfield Technical Community College
0.6 mi
|
#123 of 346
|
Score: 74.4
Same rank as last year
30 students
Diverse
College Ready Curriculum
Grades 09-12
C
High School of Commerce
0.7 mi
|
#272 of 346
|
Score: 45.2
Improved 30 spots from last year
-13 below state avg
835 students
Moderate
11 sports
• 554 athletes
Early College Program
Rising School
College Ready Curriculum
Grades 09-12
F
Phoenix Academy Public Charter High School, Springfield
0.8 mi
|
#343 of 346
|
Score: 20.1
Improved 5 spots from last year
-38.1 below state avg
175 students
Moderate
College Ready Curriculum
Grades 09-12
F
Springfield International Academy at Sci-Tech
2.2 mi
|
#340 of 346
|
Score: 20.7
Dropped 40 spots from last year
-37.5 below state avg
52 students
Diverse
Career Tech Programs
College Ready Curriculum
Diverse Student Body
Grades 09-12
C-
Springfield High School of Science and Technology
2.2 mi
|
#311 of 346
|
Score: 36.3
Dropped 1 spots from last year
-21.9 below state avg
1,147 students
Moderate
13 sports
• 870 athletes
Career Tech Programs
College Ready Curriculum
Grades 09-12
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Monthly Payment Calculator
Monthly Payment
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Loan Amount
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Over life of loan
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Including down payment
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Down: $0
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Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$1,751
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
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$0
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Rate Impact
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
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Location
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Neighborhood
181-187 Chestnut St, Springfield MA 01103
Springfield, MA 01103
Listing Information
Listing Agent
Anthony Ardolino
Listing Office
Berkshire Hathaway HomeServices Realty Professionals
Office Phone
413-596-6711
Agent MLS ID
M8000971
Office MLS ID
AN7274
Listing Data Updated
Sep 17, 2026 9:22 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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