120 Maple StSpringfield, MA 01105

Property Details for 120 Maple St

Year built

1927

Lot size

2.08 AC

Property size (Sq ft)

41,140 SF

Zone code

SC1B2

Property type

Office properties

Property subtype

Office buildings

APN

SPRI S:08218 P:0037

APU

SPRIS08218P0037

Description

This exceptional medical office building, located at 120 Maple Street in Springfield, Massachusetts, presents a unique investment opportunity. The property, built in 1958, encompasses a total of 41,140 square feet and sits on a 3-acre lot. Currently, there is 5,436 square feet of vacant space available, divisible into units ranging from a minimum of 900 square feet to a maximum contiguous space of 3,500 square feet. The building is zoned as Split Commercial a Business B, catering to a variety of medical and professional uses. Ample parking is provided with 460 spaces on-site, ensuring convenient access for patients and staff. The property benefits from a high-traffic location, situated on the PVTA bus route and offering excellent accessibility to Interstates 91 and 291, as well as close proximity to Springfield's central business district. This multi-tenant building offers secure and well-lit spaces, making it an ideal location for medical practices seeking a prominent and convenient presence in Springfield. The property's size and layout provide flexibility for various medical office configurations, accommodating both small and larger practices. The building's location and amenities make it a highly desirable option for medical professionals seeking a thriving and accessible location in Hampden County. The available space presents a chance to establish or expand a medical practice in a well-established and convenient location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,801,671

  6.5%

  $6,278,466

  7%

  $5,830,004

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,375,352

  Geo Method

  $5,375,352

• Alternative Use

  Use

  Valuation

  Residential

  $7,785,297

  Hospitality

  $7,131,290

  Educational

  $5,933,150

  Medical

  $6,137,200

  Retail

  $9,229,344

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1003

Longitude

-72.5814

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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