Corner Office Tower with
For Sale
$2,100,000
217-241 Park Avenue, West Springfield, MA 01089
5-story office tower plus adjacent single-story office building, each on separate parcels with a partial leaseback.
Property Size23,554 SF
Price / SF$89.16
Days on Market951
Property Features for 217-241 Park Avenue
General Information
Standard status
Active
Size
23,554 SF
Property subtype
Commercial
Building Details
Year Built
1974
Stories
5
Tenancy
Multi
Listing Agency:
Pioneer CRE
Listed By:
Paul Bongiorni
(413) 768-9848
Source:
Wandamooney
Added: Jan 28, 2024
Changed: Sep 4
Last Checked: Sep 4 at 9:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pioneer CRE
Investment Insights
Based on property information with market context.
Park Tower includes a prominent five-story office tower and an adjacent single-story office building on four parcels. The tower provides multiple floors of office space and includes a two-lane drive-through/ATM. KeyBank has a partial leaseback, covering the renovated first-floor branch and a small portion of the third floor.
A fourth-floor space is recently leased to the local chapter of a national trade organization. The adjacent building is vacant and single-story, totaling approximately 5,884 square feet, and could be suitable for a variety of uses.
The property is described as a corner lot with visibility in downtown West Springfield, with access to nearby retail along the Riverdale St./Rt. 5 corridor, the Big E, and area highways.
A fourth-floor space is recently leased to the local chapter of a national trade organization. The adjacent building is vacant and single-story, totaling approximately 5,884 square feet, and could be suitable for a variety of uses.
The property is described as a corner lot with visibility in downtown West Springfield, with access to nearby retail along the Riverdale St./Rt. 5 corridor, the Big E, and area highways.
Key Highlights
- Park Tower at 225 Park Ave: 5‑story office tower (+/- 17,670 net SF) built in 1974
- Partial leaseback: KeyBank leases back its recently renovated first‑floor branch and a small portion of the 3rd floor
- 4th floor recently leased to the local chapter of a national trade organization
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 5-story office tower plus adjacent single-story office building, each on separate parcels with a partial leaseback.
Where is this office building located?
The property is located at 217-241 Park Avenue 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: Park Tower at 225 Park Ave: 5‑story office tower (+/- 17,670 net SF) built in 1974; Partial leaseback: KeyBank leases back its recently renovated first‑floor branch and a small portion of the 3rd floor; 4th floor recently leased to the local chapter of a national trade organization
