153 Main StSpringfield, MA 01151

This exceptional mixed-use property, located at 153 Main Street in Springfield, Massachusetts, presents a compelling investment opportunity for owner-occupiers or value-add investors. The 10,976 square foot building, constructed in 1900 and extensively renovated in 2022, boasts a prime corner location with high visibility. The property features seven units: five commercial/retail spaces on the ground floor and two one-bedroom residential apartments on the second floor. All tenants are on month-to-month leases with below-market rents, providing significant upside potential for the new owner. Recent capital improvements include new doors and windows, a refreshed exterior façade, a new rear parking lot, new roofs, rebuilt chimneys, a new rear staircase, a new front balcony, and a new mini-split HVAC system in the bar. The property sits on a 1.05-acre lot and offers ample on-street parking, along with additional private rear parking. The asking price is $695,000, representing a price per square foot of $63.32 and a 7.43% cap rate, based on a net operating income (NOI) of $51,620. The seller is open to including the bar in the sale, though a non-disclosure agreement is required for pro forma information related to the bar's financials. This Class B property presents a rare opportunity to acquire a well-maintained, income-producing asset with significant value-add potential in a desirable location. The property's APN is spr-008132-000000-000283. The building is two stories and currently enjoys 100% occupancy.