388 Palmer RdWare, MA 01082

Property Details for 388 Palmer Rd

Year built

1977

Construction

FRAME

Lot size

2.86 AC

Property size (Sq ft)

1,200 SF

Zone code

CI

Property type

Retail space

APN

WARE M:00009 B:00000 L:00171

APU

WAREM00009B00000L00171

Description

This unique mixed-use property in Ware, MA, presents a compelling investment or owner-occupant opportunity. Situated on a high-traffic section of Route 32, near the Palmer town line, this property boasts excellent visibility and convenient access. The offering includes two buildings: a +/- 1,200 square foot retail/office building and a +/- 861 square foot warehouse featuring an overhead door and loading platform. The combined buildings sit on approximately 2.86 acres of land, providing ample space for expansion or future development. Its strategic location offers proximity to key amenities, including Gibbs Crossing, a large shopping center anchored by Walmart and Lowe's, located just a quarter-mile away. Furthermore, the property enjoys convenient access to major transportation arteries, being only 5.5 miles from the Palmer, MA Pike interchange and 2.8 miles from downtown Ware. Adding to its appeal is its proximity to the Ware Mass Central Rail Trail entrance, part of a planned 104-mile recreational trail extending from Boston to Northampton. This presents a unique opportunity for redevelopment, owner-occupancy, or investment in a thriving commercial corridor. The property's versatility and prime location make it an attractive proposition for a wide range of potential uses.

• CAP approach

  CAP return

  Valuation

  6%

  $291,642

  6.5%

  $269,208

  7%

  $249,979

• Comparable approach

  Method

  Valuation

  Relative Method

  $395,116

  Geo Method

  $395,116

• Alternative Use

  Use

  Valuation

  Residential

  $227,087

  Hospitality

  $208,010

  Educational

  $173,062

  Medical

  $179,014

  Retail

  $269,208

Location Insight

City

Ware

County

Hampshire

State

Massachusetts

Latitude

42.238

Longitude

-72.2862

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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