1365 Main StSpringfield, MA 01103

Property Details for 1365 Main St

Year built

1860

Lot size

0.23 AC

Property size (Sq ft)

34,496 SF

Zone code

B3

Property type

Office buildings

APN

SPRI S:08130 P:0551

APU

SPRIS08130P0551

Description

Market Place, located at 1365 Main Street in Springfield, MA, 01103, presents a unique opportunity for businesses seeking prime downtown office space. This historic four-story building, constructed in 1860, boasts a total of 27,608 square feet and offers a variety of office configurations suitable for traditional, executive, creative, or medical practices. The building features a single structure with elevators, and is zoned B3. Its multiple tenancy allows for flexibility in lease terms and space requirements. The property's strategic location in the heart of Springfield's downtown area places it just one block from the MassMutual Center and City Hall, ensuring high visibility and convenient access. The building is part of a vibrant hub that includes retail, dining, and professional services, creating a dynamic and convenient environment for tenants. A connecting atrium links Main Street to Market Street's attractive brick walkway, which hosts events and features the popular Nosh Cafe. The building's prominent position across from Monarch Place provides excellent exposure and reinforces its status as a key location in the city. Market Place offers an exceptional opportunity to establish, grow, or relocate a business in Western Massachusetts, benefiting from strong foot and vehicle traffic.

• CAP approach

  CAP return

  Valuation

  6%

  $5,703,219

  6.5%

  $5,264,510

  7%

  $4,888,474

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,507,248

  Geo Method

  $4,507,248

• Alternative Use

  Use

  Valuation

  Residential

  $6,527,992

  Hospitality

  $5,979,606

  Educational

  $4,974,962

  Medical

  $5,146,058

  Retail

  $7,738,830

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1024

Longitude

-72.5893

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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