1458 Riverdale StWest Springfield, MA 01089

Property Details for 1458 Riverdale St

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.72 AC

Property size (Sq ft)

13,320 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

WSPR M:00226 B:09700 L:000J3

APU

WSPRM00226B09700L000J3

Description

This exceptional 10,150 square foot, single-story retail building, constructed in 2003 and renovated in 2020, is situated on a 1.55-acre lot at 1458-1464-1472 Riverdale Street in West Springfield, MA, 01089. The property boasts a prime location on a major commercial thoroughfare (Route 5), experiencing over 24,000 vehicles daily. It features 180 shared parking spaces and is conveniently located one minute from Interstate 91 and the Mass Turnpike. Currently, there are two suites available, with a minimum divisible space of 3,400 square feet and a maximum contiguous space of 10,150 square feet. One 3,400 square foot suite is built out as office space, complete with reception/waiting areas, private offices, conference rooms, a cubicle area, kitchenette, and two ADA-compliant bathrooms. This space benefits from abundant natural light due to ribbon windows on two sides. The remaining space is configured as wide-open retail stores with stockrooms. The property is zoned Business A and enjoys excellent co-tenancy with national retailers such as Costco, Home Depot, Stop & Shop, and many others. A bus stop is conveniently located in front of the plaza. Custom build-outs are available for qualified tenants. This property presents a unique opportunity for medical, dental, or retail businesses seeking high visibility and accessibility in a thriving commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,237,225

  6.5%

  $2,988,208

  7%

  $2,774,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,385,786

  Geo Method

  $4,385,786

• Alternative Use

  Use

  Valuation

  Residential

  $2,520,665

  Hospitality

  $2,308,916

  Educational

  $1,920,991

  Medical

  $1,987,056

  Retail

  $2,988,208

Location Insight

City

West Springfield

County

Hampden

State

Massachusetts

Latitude

42.1434

Longitude

-72.6289

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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