Turnkey Medical Office
For Sale
Contact for pricing
532 Sumner Ave, Springfield, MA 01108
Turnkey medical space with income in place from a long-term tenant, featuring strong frontage and ample parking.
Property Size13,000 SF
Price / SF$153.85
Days on Market607
Property Features for 532 Sumner Ave
General Information
Standard status
Active
Size
13,000 SF
Property subtype
RETAIL
Site & Location
Neighborhood
Forest Park
Listing Agency:
NAI Advisors - Providence
(401) 214-2434
Listed By:
Mitchell Stepien
(401) 648-6292
Source:
Moodyscre
Added: Mar 4, 2025
Changed: Oct 26
Last Checked: Nov 1 at 8:26AM
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 NAI Advisors - Providence
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Investment Insights
Based on property information with market context.
This turnkey medical space is offered For Sale with income in place from a long-term, dependable tenant. The property is configured as a medical space, while the overall presentation and layout are also described as suitable for retail shops, boutique storefronts, service businesses, or specialty dining concepts.
The property is positioned for visibility with excellent frontage and easy accessibility, supported by ample parking. The public remarks also highlight strong daily foot and vehicle traffic to support customer exposure for an owner-occupant or an operating business.
Located at 532 Sumner Ave, Springfield, MA 01108, the property totals 13,000 square feet.
The property is positioned for visibility with excellent frontage and easy accessibility, supported by ample parking. The public remarks also highlight strong daily foot and vehicle traffic to support customer exposure for an owner-occupant or an operating business.
Located at 532 Sumner Ave, Springfield, MA 01108, the property totals 13,000 square feet.
Key Highlights
- Turnkey medical space with income in place from a long‑term tenant.
- Strong frontage in a Springfield commercial district.
- Ample on‑site parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,010
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,580,200
$3.6M
Cap Rate 7%
$2,557,286
$2.6M
Cap Rate 9%
$1,989,000
$2.0M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$280.8K $21.60/SF
− Vacancy
−$42.1K −$3.24/SF
EGI
$238.7K $18.36/SF
− OpEx
−$59.7K −$4.59/SF
NOI
$179.0K $13.77/SF
Area
Springfield, MA
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,580,200
Cap Rate 7%
$2,557,286
Cap Rate 9%
$1,989,000
Alternative Uses
Best Use
Healthcare Medical
$2.64M
$2.31M – $3.09M
NOI $185,141 @ 7.0% cap · market cap 9.26%
Second Best
Office B
$2.56M
$2.24M – $2.98M
NOI $179,010 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,104 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Spruce Hill Veterinary Clinic — 4 Plumtree Rd, Springfield, MA 01118
- Dr. Tom Crosson — 4 Plumtree Rd, Springfield, MA 01118
- Himmelstein Sherry DVM — 4 Plumtree Rd, Springfield, MA 01118
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical space with income in place from a long-term tenant, featuring strong frontage and ample parking.
Where is this medical office space located?
The property is located at 532 Sumner Ave Springfield, MA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Turnkey medical space with income in place from a long‑term tenant.; Strong frontage in a Springfield commercial district.; Ample on‑site parking.
