Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Office Building For Rent Title is generated by Realmo AI

    229 Park Ave, West Springfield, MA 01089

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $9 SF/Yr

    Freestanding office building with high visibility in West Springfield.

    Type:Commercial
    Lot size:
    0.51 Acres
    Added:
    Nov 27, 2025
    Days on Market:
    176
    Last Refresh:
    May 10 at 11:29 pm

    Property Features for 229 Park Ave

    General Information

    Standard status
    Active
    Lot size
    0.51 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    Paul Bongiorni
    Paul Bongiorni

    Listing agent Paul Bongiorni License #9575704

    Listing office Pioneer CRE

    Listing date Nov 27, 2025

    Source Elliman

    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

    HighLights

    • Freestanding office building on corner lot.
    • High visibility location on busy Park Avenue.
    • Many usage possibilities.
    • Close proximity to downtown Springfield.
    • Minutes from Riverdale Street retail/shopping centers.
    • Easy access to area highways.

    Overview

    This freestanding office building is located on the corner of Park Avenue and Western Avenue in West Springfield. The property offers good visibility on busy Park Avenue and is adjacent to the prominent Park Tower. Its location provides convenient access to downtown Springfield, the Riverdale Street retail and shopping centers, and area highways. The property has many usage possibilities.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6221751
    Latitude
    42.1033264

    Nearby Similar for Lease

    • $6,800/Mo
      4,100 SF

      West Springfield Office Suites for Lease

      Office suites available for lease with flexible layouts and convenient access.
      117 Park Ave, West Springfield, MA 01089
      View Details
    • $18 SF/Yr
      11,394 SF

      Route 20 Retail Center Space

      High-visibility retail spaces available on Route 20 in West Springfield.
      1399 Westfield St, West Springfield, MA 01089
      View Details
    • $18 SF/Yr
      3,125 SF

      West Springfield Office Space Available

      Office space for lease with private offices and ample parking.
      27 Capital Drive, West Springfield, MA 01089
      View Details
    • $16 SF/Yr
      11,394 SF

      West Springfield Retail Spaces Available

      High-traffic location with excellent visibility and ample parking.
      1399 Westfield St, West Springfield, MA 01089
      View Details
    • $23 SF/Yr
      10,000 SF

      Renovated Office Space Available

      Move-in ready office space with modern amenities and convenient location.
      200 Hillside Circle, West Springfield, MA 01089
      View Details
    • Contact for pricing
      5,000 SF

      West Springfield Flex Space Available

      5,000 SF flex space for lease in West Springfield.
      77 Myron Street, West Springfield, MA 01089
      View Details
    • $16 SF/Yr

      Office Space in Park Tower

      Second floor office space for lease in high-visibility Park Tower.
      225 Park Ave #2, West Springfield, MA 01089
      View Details
    • $15 SF/Yr
      650 SF

      West Springfield Retail/Office Space

      Retail or office space with high visibility on Main Street.
      436 Main St, West Springfield, MA
      View Details
    • $2,000/Mo
      200 SF

      Memorial Avenue Retail Space

      Retail space on Memorial Ave, West Springfield.
      338-356 Memorial Ave, West Springfield, MA
      View Details
    • $11 SF/Yr
      2,600 SF

      West Springfield Flex Space Available

      Flex space available in West Springfield, totaling approximately 2,600 square feet.
      54 Myron Street, West Springfield, MA, 01089
      View Details
    • $13 SF/Yr
      4,451 SF

      West Springfield Warehouse Space Available

      4,451 SF warehouse space for rent in West Springfield.
      19 Norman St, West Springfield, MA
      View Details
    • $6,800/Mo
      2,600 SF

      West Springfield Office Space Available

      2600 sq ft office space for rent.
      117 Park Ave, West Springfield, MA
      View Details

    FAQs

    What type of property is this?
    Office building - Freestanding office building with high visibility in West Springfield.
    Where is this office building located?
    The property is located at 229 Park Ave West Springfield, MA.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Freestanding office building on corner lot.; High visibility location on busy Park Avenue.; Many usage possibilities.
    (413) 459-0570
    We can help!
    Listing Contact
    Paul Bongiorni
    Paul Bongiorni
    Real Estate License ID: 9575704
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    229 Park Ave, West Springfield, MA 01089
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!