The radiation impedance of a piston transducer mounted in a rigid baffle has been widely addressed in the literature. The real and imaginary parts of the impedance are described by the first order Bessel and Struve functions, respectively. Although there are power series expansions for both functions, the analytic formulation of a lumped circuit is not trivial. In this paper, we present an empirical approach to the derivation of a lumped-circuit model for the radiation impedance expression, based on observations on the near-field behavior of stored kinetic and elastic energy. The field analysis is carried out using a finite element method model of the piston and surrounding fluid medium. We show that fluctuations in the real and imaginary components of the impedance can be modeled by series and shunt tank circuits, each of which shape a certain section of the impedance curve. Because the model is composed of lumped-circuit elements, it can be used in circuit simulators. Consequently, the proposed model is useful for the analysis of transducer front-end circuits.