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    534 Sumner Ave Springfield, MA 01108

    Sponsored
    For Sale
    $2,000,000

    Prime Springfield office, 100% occupied.

    Property size:
    9,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fee-simple, stabilized investment property located at 534 Sumner Ave, Springfield, MA 01108, offers a compelling opportunity. The single-story, 9,300 square foot traditional office building, built in 1942, sits on a 23,087 square foot lot and boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $108,816. The asking price is $2,000,000, representing a 5.44% cap rate and a price per square foot of $215.05. The property is zoned Sc1B1 and benefits from its convenient location near Route 91 and the Julia B. Buxton Bridge, providing excellent access to major transportation routes. The building is surrounded by various neighborhood retail amenities and is served by several bus lines (G1, G5, T1, T2, & T92), enhancing its accessibility. This multi-tenant property operates under a gross lease structure. The property's strong performance and strategic location make it an attractive investment opportunity. The property's APN is SPRI-011280-000000-000103.

    Property Features for 534 Sumner Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    9,300 SF

    Building Details

    Year Built
    1942
    Buildings
    1
    Stories
    1

    HighLights

    • Fee‑simple office building for sale in Springfield, MA.
    • Excellent location near Route 91 and the Julia B. Buxton Bridge.
    • Surrounded by neighborhood retail amenities and served by multiple bus lines (G1, G5, T1, T2, & T92).
    • 9,300 SF single‑story building on a 23,087 SF lot, 100% occupied, generating $108,816 NOI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.557114436921
    Latitude
    42.086416913903

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Springfield office, 100% occupied.
    Where is this office property / space located?
    The property is located at 534 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: Fee-simple office building for sale in Springfield, MA.; Excellent location near Route 91 and the Julia B. Buxton Bridge.; Surrounded by neighborhood retail amenities and served by multiple bus lines (G1, G5, T1, T2, & T92).
    Request Owner's contact information
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    Springfield, MA 01108
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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
    534 Sumner Ave Springfield, MA 01108
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