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    1021 Main St Springfield, MA 01103

    Sponsored
    For Sale
    $750,000

    Retail & Restaurant Space, High Traffic Area

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional downtown Springfield property at 1021 Main Street presents a compelling investment opportunity. The 0.16-acre lot houses a building featuring a currently leased retail space, generating immediate income potential, and a vacant restaurant space ready for a new tenant or owner-operator. The building underwent significant updates in 2013, ensuring modern functionality and appeal. Its prime location on Main Street places it within easy reach of a multitude of attractions and amenities, including the MGM Casino, MassMutual Center, Basketball Hall of Fame, various museums, and convenient highway access. This high-traffic location ensures excellent visibility and accessibility for any business. The property is available for purchase as a standalone investment or as part of a combined package with 982 Main Street (MLS #73323713), offering buyers flexibility to tailor their investment strategy. The asking price for this standalone property is $750,000. This presents a rare chance to acquire a well-maintained, income-producing property in a thriving urban center, ideal for investors seeking immediate returns or entrepreneurs looking to establish a presence in a high-demand location. The existing retail tenant provides a stable income stream, while the vacant restaurant space offers significant upside potential for future growth and revenue generation. The property's proximity to major attractions and transportation routes further enhances its investment value.

    Property Features for 1021 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    6,970 SF

    Building Details

    Year Built
    1958
    Property Profile Location Intelligence

    Current Use by Public Records

    MexiRico Restaurant Latin American Restaurant Potco Cannabis Store BonjourKissy Shipping Company

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.58436
    Latitude
    42.09935

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    FAQs

    What type of property is this?
    Commercial real estate - Retail & Restaurant Space, High Traffic Area
    Where is this commercial real estate located?
    The property is located at 1021 Main St Springfield, MA.
    What is the asking price?
    The asking price for this property is $750,000.
    (413) 568-2405
    Request Owner's contact information
    1021 Main St Springfield, MA 01103
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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
    1021 Main St Springfield, MA 01103
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