645 Belmont AveSpringfield, MA 01108

Property Details for 645 Belmont Ave

Year built

1905

Lot size

0.14 AC

Property size (Sq ft)

2,820 SF

Zone code

C1

Property type

Office buildings

APN

SPRI S:01235 P:0238

APU

SPRIS01235P0238

Description

This exceptional Springfield, Massachusetts warehouse at 645 Belmont Ave presents a unique investment opportunity. The property boasts a substantial 220,800 square feet of total building space, with 3,000 square feet currently vacant and available for lease. Built in 1905, this three-story structure sits on a 0.14-acre lot and is zoned C1, offering considerable flexibility for a variety of commercial uses. The building features ten total parking spaces, providing ample convenience for tenants and visitors. The property's location in Hampden County, with its high traffic count and excellent visibility, makes it ideal for businesses seeking strong exposure. The existing infrastructure includes two full bathrooms, gas heat, and central air conditioning, ensuring a comfortable and functional workspace. The building is exceptionally well-maintained and suitable for a wide range of businesses, including professional offices, medical practices, service providers, retail outlets, social services, and educational institutions. The vacant space is currently available for lease at a competitive rate. The property's Assessed Parcel Number (APN) is S:01235 P:0238. This is a single-tenant building offering a rare opportunity to acquire a well-located, established warehouse in a thriving commercial area. Don't miss this chance to secure a valuable asset in a prime Springfield location.

• CAP approach

  CAP return

  Valuation

  6%

  $466,230

  6.5%

  $430,366

  7%

  $399,626

• Comparable approach

  Method

  Valuation

  Relative Method

  $368,461

  Geo Method

  $368,461

• Alternative Use

  Use

  Valuation

  Residential

  $533,654

  Hospitality

  $488,824

  Educational

  $406,696

  Medical

  $420,683

  Retail

  $632,639

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.0858

Longitude

-72.5544

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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