90 Berkshire AveSpringfield, MA 01109

Property Details for 90 Berkshire Ave

Year built

1968

Lot size

0.68 AC

Property size (Sq ft)

4,620 SF

Zone code

SR1C1

Property type

Medical offices

Property subtype

Medical centers

APN

SPRI S:01340 P:0020

APU

SPRIS01340P0020

Description

This exceptional owner-user opportunity presents a well-maintained, two-story medical office building situated on a spacious 29,712 square foot lot in Springfield, Massachusetts. The property, located at 90 Berkshire Ave, zip code 01109, boasts 4,818 square feet of net rentable space, currently configured as a chiropractic office since 1968. The upper level comprises six exam rooms, two bathrooms, a massage room, a sizable reception area with a file room, a small break room, and a private office. A significant upgrade includes a new 400-amp electrical panel installed in July 2024 for the upper level, supplementing the existing two separate electrical panels and meters serving both levels. The lower level offers an additional 2,343 square feet of finished space, including a full bathroom, a fully applianced kitchen, and a combined break room/dining area. Ample parking is available with paved space for approximately 25+ vehicles. The property benefits from convenient access to local amenities, major roadways, and highways. Heating is provided by natural gas with electric backup. The building is zoned Commercial A, offering flexibility for various medical or related uses. The asking price is $499,000, translating to $103.57 per square foot. Occupancy is available October 1, 2024. This is an ideal investment for a medical professional seeking a turnkey operation or an investor looking for a strong return in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $763,824

  6.5%

  $705,068

  7%

  $654,706

• Comparable approach

  Method

  Valuation

  Relative Method

  $603,649

  Geo Method

  $603,649

• Alternative Use

  Use

  Valuation

  Residential

  $874,285

  Hospitality

  $800,840

  Educational

  $666,290

  Medical

  $689,204

  Retail

  $1,036,450

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1259

Longitude

-72.5379

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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