14 Chestnut Pl Ludlow, MA 01056

The property at 14 Chestnut Place is a 77,000 +/- SF rehabilitation hospital. It is offered in conjunction with a .37 acre parking lot at 58 Sewall Street, improved with a 2,400 SF garage. The property presents an opportunity for medical providers seeking to maximize operational value in the central and western Massachusetts markets, and for re-use as a senior human and health services facility. Potential uses include multifamily housing, senior housing, memory care, assisted living, or a boutique hotel. The building consists of 3 stories and 5 floors. Interior renovations totaling over $1M were completed in 2016-2017. A new 11,400 SF lease has been signed for the third floor. The property has 155 surface parking spaces available and a walkability score of 82, indicating it is very walkable. It is located 6.5 miles east of Springfield, which is home to the Baystate Medical Center’s new $296 Million, 641,000 SF clinical facility. The property is located 70 miles west of Boston, MA, 36 miles north of Hartford, CT, 90 miles east of Albany, NY, .88 miles from the MassPike (90), and 7.2 miles from the I-91/90 interchange. Other potential uses include acute care, substance abuse treatment, and behavioral health services.