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    217-241 Park Ave West Springfield, MA 01089

    For Sale
    $2,100,000

    Prime commercial real estate package with leaseback in downtown.

    Lot size:
    1.29 Acres

    Property Features for 217-241 Park Ave

    General Information

    Lot size
    1.29 Acres

    Building Details

    Year built
    1974

    Source: Pioneer CRE Agent Paul Bongiorni

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    West Springfield Office Investment Opportunity

    This commercial real estate package in downtown West Springfield presents a unique investment opportunity. The sale includes a five-story office tower and a single-story office building, situated across four parcels. The Park Tower at 225 Park Ave. offers approximately 17,670 net square feet of office space across multiple floors. Features include a boardroom, several kitchens, and a two-lane drive-through ATM. KeyBank will lease back their existing first-floor branch, which was recently renovated, and a small portion of the third floor. Adjacent to the tower is a vacant, single-story commercial building at 229 Park Ave., offering approximately 5,884 square feet. This building could be suitable for a variety of uses. The property is located minutes from downtown Springfield, the Riverdale St./Rt. 5 retail corridor, the Big E, and area highways. The corner lot benefits from high traffic counts and visibility.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6217903
    Latitude
    42.1037159

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    FAQs

    What type of property is this?
    Office building - Prime commercial real estate package with leaseback in downtown.
    Where is this office building located?
    The property is located at 217-241 Park Ave West Springfield, MA.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: - Prime commercial real estate package in downtown West Springfield.; - Leaseback opportunity with KeyBank for approximately 14% of the building area.; - Includes a **5-story office tower with readily available, luxurious office space**.
    (413) 459-0570
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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
    217-241 Park Ave West Springfield, MA 01089
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