281 Cottage StSpringfield, MA 01104

Property Details for 281 Cottage St

Year built

1983

Lot size

0.82 AC

Property size (Sq ft)

1,983 SF

Zone code

I1

Property type

Office properties

Property subtype

Office buildings

APN

SPRI S:03310 P:0301

APU

SPRIS03310P0301

Description

This renovated 1,515-square-foot standalone building in Springfield, MA, offers versatile office space perfect for various uses, including medical, executive, creative, traditional office, coworking, or industrial needs. Located at 281 Cottage St, this single-tenant property features a large waiting area, three private offices, a kitchenette, and an ADA-compliant restroom. A partial basement provides additional restrooms and storage. The building benefits from excellent visibility and signage at a high-traffic intersection (Cottage St and Robbins Rd), boasting over 15,000 vehicles daily. The property includes extensive paved on-site parking and enjoys convenient proximity to the interstate highway system (less than half a mile). The 36,650-square-foot lot provides ample space and opportunity. This property is situated at the entrance to the Springfield Industrial Park, offering easy access and high visibility. The recent renovations and clinic-ready build-out make this a move-in ready opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $327,849

  6.5%

  $302,630

  7%

  $281,014

• Comparable approach

  Method

  Valuation

  Relative Method

  $259,099

  Geo Method

  $259,099

• Alternative Use

  Use

  Valuation

  Residential

  $375,261

  Hospitality

  $343,737

  Educational

  $285,985

  Medical

  $295,821

  Retail

  $444,866

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1438

Longitude

-72.5427

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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