811 Union StWest Springfield, MA 01089

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

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.

• 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

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

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