For Sale
$2,000,000

534 Sumner AveSpringfield, MA 01108

Prime Springfield office, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
116
This fee-simple, stabilized investment property located at 534 Sumner Ave, Springfield, MA 01108, offers a compelling opportunity. The single-story, 9,300 square foot traditional office building, built in 1942, sits on a 23,087 square foot lot and boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $108,816. The asking price is $2,000,000, representing a 5.44% cap rate and a price per square foot of $215.05. The property is zoned Sc1B1 and benefits from its convenient location near Route 91 and the Julia B. Buxton Bridge, providing excellent access to major transportation routes. The building is surrounded by various neighborhood retail amenities and is served by several bus lines (G1, G5, T1, T2, & T92), enhancing its accessibility. This multi-tenant property operates under a gross lease structure. The property's strong performance and strategic location make it an attractive investment opportunity. The property's APN is SPRI-011280-000000-000103.

Highlights

  • Fee-simple office building for sale in Springfield, MA.
  • Excellent location near Route 91 and the Julia B. Buxton Bridge.
  • Surrounded by neighborhood retail amenities and served by multiple bus lines (G1, G5, T1, T2, & T92).
  • 9,300 SF single-story building on a 23,087 SF lot, 100% occupied, generating $108,816 NOI.

Property Details for 534 Sumner Ave

Property type
Office properties
Square Feet
9,300 SF
Year Built
1942
Buildings
1
Stories
1

Location Insight

City
Springfield
County
Hampden
State
Massachusetts
Latitude
42.086416913903
Longitude
-72.557114436921
534 Sumner Ave, Springfield, Massachusetts

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534 Sumner Ave
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