1010 Park StPalmer, MA 01069

Property Details for 1010 Park St

Year built

1976

Construction

FRAME

Lot size

0.80 AC

Property size (Sq ft)

3,572 SF

Zone code

TR

Property type

Banks

APN

PALM M:58 B:30

APU

PALMM58B30

Description

This exceptional 3,395 square foot commercial property, located at 1010 Park Street in Palmer, Massachusetts, presents a unique investment opportunity. The building, classified as Class B, is situated on a sizable 0.8-acre lot and boasts prominent visibility directly on Route 32, ensuring high traffic exposure. Previously used as a bank, this single-tenant building offers a versatile layout suitable for a variety of office uses, including traditional office space and medical practices. The property features a convenient drive-thru, a significant advantage for businesses requiring this functionality. Ample parking is provided with 24 dedicated spaces, ensuring convenient access for employees and clients. The building's location in the heart of Palmer, MA, zip code 01069, offers easy access to local amenities and a strong local market. The property type is listed as Retail and Office, reflecting its adaptability to diverse business needs. This is a rare opportunity to acquire a well-positioned commercial building in a thriving Massachusetts community. The building's size and features make it ideal for a business seeking a substantial and visible presence in the Palmer area.

• CAP approach

  CAP return

  Valuation

  6%

  $868,121

  6.5%

  $801,342

  7%

  $744,103

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,176,128

  Geo Method

  $1,176,128

• Alternative Use

  Use

  Valuation

  Residential

  $675,962

  Hospitality

  $619,178

  Educational

  $515,149

  Medical

  $532,865

  Retail

  $801,342

Location Insight

City

Palmer

County

Hampden

State

Massachusetts

Latitude

42.1595

Longitude

-72.3281

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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