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    Loring St Springfield, MA 01105

    Sponsored
    For Sale
    $400,000

    Artist Studio, Warehouse, Development Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This unique Springfield, MA property offers a compelling investment opportunity. Priced at $400,000, it features a spacious warehouse/studio building perfect for a variety of uses. Currently configured as an artist's residence, the building boasts 12-foot ceilings, a concrete floor, a secure vault room, and a sizable loft area. The open layout provides ample space for creative endeavors or business operations. The building is set back from Loring Street, a residential one-way street, offering a degree of privacy and quiet. A significant advantage is the inclusion of two additional lots, each zoned for residential use, located on either side of the driveway. These lots previously held multi-family dwellings, presenting a potential for future development and increased income generation. The property sits conveniently close to the Springfield casino. The buyer is responsible for verifying all permitted uses and zoning regulations. This is an exceptional chance to acquire a versatile commercial property with significant upside potential, combining immediate income possibilities with long-term development prospects. The 0.08-acre lot encompasses the building and the two adjacent residential lots.

    Property Features for Loring St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1923
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.58186
    Latitude
    42.09607

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    FAQs

    What type of property is this?
    Commercial real estate - Artist Studio, Warehouse, Development Potential
    Where is this commercial real estate located?
    The property is located at Loring St Springfield, MA.
    What is the asking price?
    The asking price for this property is $400,000.
    (413) 693-2460
    Request Owner's contact information
    Loring St Springfield, MA 01105
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Loring St Springfield, MA 01105
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