222 Carew StSpringfield, MA 01104

Property Details for 222 Carew St

Year built

1911

Lot size

1.21 AC

Property size (Sq ft)

29,325 SF

Zone code

SR3O1

Property type

Medical offices

Property subtype

Medical centers

APN

SPRI S:02360 P:0038

APU

SPRIS02360P0038

Description

This 20,000-square-foot medical office building in Springfield, Massachusetts, offers a 5,000-square-foot lease opportunity on the third floor. The renovated space features approximately 26 rooms, including six spacious offices and four bathrooms. A welcoming reception area showcases exposed brick walls. The building boasts ample fenced parking with handicap-accessible entry and two elevators. Located at 222 Carew St, Springfield, MA 01104, in Hampden County, this property is conveniently situated near Mercy and Baystate Hospitals. The space is zoned SR3O1 and offers approximately 5,000 square feet at a net lease rate of $14.43 per square foot. The building has a total of 41 parking spaces. This is a single-tenant occupancy property.

• CAP approach

  CAP return

  Valuation

  6%

  $4,848,298

  6.5%

  $4,475,352

  7%

  $4,155,684

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,831,604

  Geo Method

  $3,831,604

• Alternative Use

  Use

  Valuation

  Residential

  $5,549,437

  Hospitality

  $5,083,254

  Educational

  $4,229,208

  Medical

  $4,374,657

  Retail

  $6,578,768

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1146

Longitude

-72.5964

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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