104 Lauzier TerChicopee, MA 01020

Property Details for 104 Lauzier Ter

Year built

1949

Lot size

0.40 AC

Property size (Sq ft)

1,671 SF

Zone code

7

Property type

Investment properties

Property subtype

Live-work space

APN

CHIC M:0425 P:00002

APU

CHICM0425P00002

Description

This exceptional mixed-use property at 104 Lauzier Ter, Chicopee, MA, is offered at $499,900. Situated on a 0.4-acre lot, its prime location offers high visibility, being just off Memorial Drive, behind a Wendy's restaurant, and approximately 150 feet from Route 33. The property currently features a residential unit and commercial space. The residential unit is currently leased, providing immediate rental income until April 2025. The commercial space, previously a hair salon, will be vacant upon closing, presenting a blank canvas for a new business venture. The property is zoned Business A, allowing for a diverse range of commercial uses. Furthermore, a special permit allows for the conversion of the existing structure into a total of four residential units, combined with retail space, significantly increasing the property's potential return on investment. This presents a unique opportunity for an investor seeking a blend of residential and commercial income streams in a high-traffic area with significant development potential. The property's strategic location and flexible zoning make it an attractive investment for both seasoned and emerging entrepreneurs.

• CAP approach

  CAP return

  Valuation

  6%

  $276,266

  6.5%

  $255,015

  7%

  $236,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $218,333

  Geo Method

  $218,333

• Alternative Use

  Use

  Valuation

  Residential

  $316,219

  Hospitality

  $289,654

  Educational

  $240,989

  Medical

  $249,277

  Retail

  $374,872

Location Insight

City

Chicopee

County

Hampden

State

Massachusetts

Latitude

42.1792

Longitude

-72.5782

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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