1500 Main StSpringfield, MA 01115

Property Details for 1500 Main St

Year built

1970

Lot size

3.99 AC

Property size (Sq ft)

426,795 SF

Zone code

B3

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

SPRI S:08130 P:0132

APU

SPRIS08130P0132

Description

This Hampden County, Massachusetts property, located at 1500 Main St, Springfield, 01115, offers a diverse range of office solutions. The space caters to various business needs, from traditional office setups to executive suites, coworking areas, medical offices, and creative workspaces. Tenancy is multiple, allowing for flexibility in space requirements. The building provides customizable options, ranging from single-person offices to large-scale spaces accommodating 100+ desks. Services include fully furnished and equipped private offices, adaptable to specific business needs, including serviced, custom, disaster recovery, and day offices. Coworking options are available, offering shared office or open-plan areas with hot-desking capabilities. Meeting rooms are also available, ranging from informal spaces with Wi-Fi to larger venues suitable for presentations, training, or conferences. Virtual office options are provided, including business addresses, mail handling, and virtual assistant services, with varying levels of access to physical office space. Flexible working plans offer access to a global network of workspaces, providing options for private offices or coworking spaces with varying day-per-month access. The property's location in Springfield, MA offers convenient access to local amenities and transportation. While the total building square footage is not currently available, the space offers a wide array of options to suit various business sizes and preferences.

• CAP approach

  CAP return

  Valuation

  6%

  $70,561,960

  6.5%

  $65,134,120

  7%

  $60,481,680

• Comparable approach

  Method

  Valuation

  Relative Method

  $55,765,036

  Geo Method

  $55,765,036

• Alternative Use

  Use

  Valuation

  Residential

  $80,766,304

  Hospitality

  $73,981,504

  Educational

  $61,551,744

  Medical

  $63,668,600

  Retail

  $95,747,152

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1024

Longitude

-72.5919

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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