For Sale
$515,000

924-934 Main StSpringfield, MA 01103

Multi-unit office building, high visibility, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a two-story, multi-unit office building totaling 5,658 square feet situated on a prominent 8,891 square foot lot in Springfield, Massachusetts. Located just blocks from the MGM casino, this high-visibility property boasts four units, two on each floor. Two larger units (approximately 1,829 square feet each) and two smaller units (approximately 1,000 square feet each) provide flexibility for various tenants. The first-floor units benefit from access to a partially finished basement, offering additional usable space. Each unit features separate gas and electric meters for efficient utility management. The property includes a fenced, paved parking lot accommodating 20 vehicles. Significant improvements have been made, including roof and window replacements (approximately 10 years ago), installation of high-efficiency LED lighting, and a recent HVAC unit replacement (less than two years ago). The building is zoned B2 and offers a pro-forma NOI of $37,242 and a pro-forma cap rate of 7.23%. The asking price is $515,000. All information is provided as per owner. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location with strong potential for future growth.

Highlights

  • $515,000 asking price for a multi-tenant office building.
  • 5,658 square feet of leasable space in a Class C building.
  • 7.23% pro-forma cap rate with a $37,242 pro-forma NOI.
  • Four units, two on each floor of a two-story building, built in 1951.
  • Located at 924-934 Main St, Springfield, MA 01103, in a B2 zoned area, with 20 parking spaces on an 8,891 sq ft lot.
  • Broker co-op available.

Property Details for 924-934 Main St

Property type
Retail properties, Office properties
Square Feet
5,658 SF
Class
C
Year Built
1951
Buildings
1
Stories
2
Units
4

Location Insight

City
Springfield
County
Hampden
State
Massachusetts
Latitude
42.098289941674
Longitude
-72.583312458609
924-934 Main St, Springfield, Massachusetts

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924-934 Main St
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