534 Sumner AveSpringfield, MA 01108

Property Details for 534 Sumner Ave

Year built

1942

Lot size

0.53 AC

Property size (Sq ft)

9,300 SF

Zone code

SC1B1

Property type

Healthcare properties

Property subtype

Medical offices

APN

SPRI S:11280 P:0103

APU

SPRIS11280P0103

Description

This fee-simple, stabilized investment property located at 534 Sumner Ave, Springfield, MA 01108, offers a compelling opportunity. The single-story, 9,300 square foot traditional office building, built in 1942, sits on a 23,087 square foot lot and boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $108,816. The asking price is $2,000,000, representing a 5.44% cap rate and a price per square foot of $215.05. The property is zoned Sc1B1 and benefits from its convenient location near Route 91 and the Julia B. Buxton Bridge, providing excellent access to major transportation routes. The building is surrounded by various neighborhood retail amenities and is served by several bus lines (G1, G5, T1, T2, & T92), enhancing its accessibility. This multi-tenant property operates under a gross lease structure. The property's strong performance and strategic location make it an attractive investment opportunity. The property's APN is SPRI-011280-000000-000103.

• CAP approach

  CAP return

  Valuation

  6%

  $1,537,568

  6.5%

  $1,419,293

  7%

  $1,317,915

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,215,138

  Geo Method

  $1,215,138

• Alternative Use

  Use

  Valuation

  Residential

  $1,759,924

  Hospitality

  $1,612,081

  Educational

  $1,341,232

  Medical

  $1,387,359

  Retail

  $2,086,361

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.0868

Longitude

-72.5572

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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