1373 Main StSpringfield, MA 01103

Property Details for 1373 Main St

Year built

1909

Lot size

0.25 AC

Property size (Sq ft)

41,329 SF

Zone code

B3

Property type

Office buildings

APN

SPRI S:08130 P:0550

APU

SPRIS08130P0550

Description

This exceptional four-story, 41,329 square foot building, constructed in 1909, presents a unique investment opportunity in the heart of downtown Springfield. Located within the vibrant Market Place complex at 1373-1383 Main Street, this historically significant property offers unparalleled accessibility. Its strategic position ensures proximity to City Hall, the MassMutual Center, and major area highways, providing convenient access for both tenants and clients. The building's classification as a Traditional Office space, under B3 zoning in Hampden County, allows for a variety of uses. The single building comprises multiple tenancies, making it ideal for a diverse portfolio of businesses or a single large-scale operation. Its rich history and prime location combine to create a compelling investment prospect with significant potential for growth and return. The building's 41,329 square feet are spread across four stories, offering ample space for various configurations to suit diverse business needs. This property represents a rare chance to acquire a landmark building in a thriving downtown area. Its established location and flexible zoning make it an attractive option for a wide range of commercial enterprises.

• CAP approach

  CAP return

  Valuation

  6%

  $6,832,918

  6.5%

  $6,307,309

  7%

  $5,856,787

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,400,047

  Geo Method

  $5,400,047

• Alternative Use

  Use

  Valuation

  Residential

  $7,821,064

  Hospitality

  $7,164,052

  Educational

  $5,960,407

  Medical

  $6,165,394

  Retail

  $9,271,744

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1025

Longitude

-72.5895

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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