811 Union StWest Springfield, MA 01089

  • Retail properties
  • 6,655 SF
For Sale

Property Details for 811 Union St

Year built
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.26 AC
Property size (Sq ft)
6,655 SF
Property type
Retail properties
Property subtype
Auto shops
APN
WSPR M:00238 B:03500 L:00019
APU
WSPRM00238B03500L00019

Description

This exceptional investment opportunity presents a thriving auto repair and used car business in West Springfield, MA, with a 20-car sales license included. The 6,976 square foot building boasts five oversized bays, a large waiting/showroom area (formerly an auto parts store), two offices, and four bathrooms. The property sits on a 6,976 square foot lot, offering ample parking. Located on a major retail/service strip near major highways (Rt 91, Rt 90, and Rt 291), this property enjoys excellent visibility and accessibility. The building is in good condition with some deferred maintenance, but the roof was replaced in 2011. The property is zoned BB and offers a strong value-add opportunity with an 8.00% cap rate. The current vacancy presents a chance to lease the space or continue the existing successful business. Owner financing is available, making this a rare find for investors seeking a turnkey operation with significant upside potential. The property is conveniently located between Merrick and Russell streets, with Memorial Avenue being the largest nearby street. Nearby airports include Bradley, Westover, and Barnes. The property has a 140-foot lot frontage. Tax ID/APN: 238/3500/19.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,617,397
    6.5%
    $1,492,982
    7%
    $1,386,340
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,191,246
    Geo Method
    $2,191,246
  • Alternative Use

    Use
    Valuation
    Residential
    $1,259,386
    Hospitality
    $1,153,591
    Educational
    $959,774
    Medical
    $992,782
    Retail
    $1,492,982
811 Union St, West Springfield, Massachusetts

Location Insight

City
West Springfield
County
Hampden
State
Massachusetts
Latitude
42.0985
Longitude
-72.6077
CBSA code
44140
CBSA name
SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$8,147
$81,800
$191,600
$273,400
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-
-
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