1030 State StSpringfield, MA 01109

Property Details for 1030 State St

Year built

1970

Lot size

0.40 AC

Property size (Sq ft)

2,147 SF

Zone code

SR2B1

Property type

Turn key restaurants

APN

SPRI S:11110 P:0201

APU

SPRIS11110P0201

Description

This exceptional restaurant property at 1030 State Street in Springfield, Massachusetts, presents a compelling investment opportunity. The 2,147 square foot building, constructed in 1970, is situated on a sizable 0.4-acre lot (17,472 square feet). Its strategic location near the American International College campus, MassMutual, and downtown Springfield ensures high visibility and foot traffic. A key advantage is the inclusion of a drive-thru window, a feature granted via a special permit (verification with the City of Springfield Planning Department is recommended). The property is legally conforming to zoning regulations. The asking price is $550,000, translating to $256.17 per square foot. The sale does not include the existing business name. All provided information is subject to buyer verification. This single-story building offers significant potential for a variety of restaurant or quick-service restaurant (QSR) concepts. Its established location and convenient drive-thru access make it an attractive proposition for both established and emerging businesses in the thriving Springfield market. The property's size and location offer ample opportunity for expansion or modification to suit a buyer's specific needs. Serious inquiries are encouraged to explore this remarkable commercial real estate offering.

• CAP approach

  CAP return

  Valuation

  6%

  $521,796

  6.5%

  $481,658

  7%

  $447,254

• Comparable approach

  Method

  Valuation

  Relative Method

  $706,928

  Geo Method

  $706,928

• Alternative Use

  Use

  Valuation

  Residential

  $406,296

  Hospitality

  $372,165

  Educational

  $309,637

  Medical

  $320,286

  Retail

  $481,658

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1141

Longitude

-72.5568

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].