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    1 Allen St Springfield, MA 01108

    Sponsored
    For Sale
    $2,950,000

    Historic Mill Building, Huge Potential

    Property size:
    171,898 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional Springfield, MA industrial property presents a compelling investment opportunity. Located at 1 Allen Street, this historic mill building complex boasts 171,898 square feet of rentable space, situated on a 4.62-acre lot. The property, zoned Industrial A, offers a diverse range of possibilities, including warehouse, manufacturing, and even retail or office space. Built in phases between 1857 and 1941, with subsequent renovations, the structure features a mix of masonry, brick, stone, wood, and steel framing, with brick and masonry block exterior. The building's interior includes wood floors and wood decking ceilings ranging from 10 to 14 feet in height. Heating is provided by gas and forced warm air. A dry sprinkler system is in place for fire safety. Ample paved parking is available. This property is ideally located for convenient access to downtown Springfield and major interstates. Approved for federal and state historic tax credits and situated in an opportunity zone, this complex presents significant potential for development and redevelopment. The assessor's records indicate a total building size of 193,205 square feet. The roof is a combination of gable shingle and flat membrane.

    Property Features for 1 Allen St

    General Information

    Property type
    Manufacturing properties
    Square Feet
    171,898 SF
    Lot Size
    201,247 SF

    Building Details

    Year Built
    1857
    Stories
    3

    HighLights

    • Potential development opportunity.
    • Approved for federal and state historic tax credits.
    • Located in an Opportunity Zone.
    • Historic mill building complex, 1 Allen Street, Springfield, MA.
    • 171,898 SF rentable space; 193,205 SF total building area (assessor).
    • Mixed‑use potential: warehouse, manufacturing, retail, office.
    Property Profile Location Intelligence

    Current Use by Public Records

    M & E Mechanical ... Mechanical Contractor Aero-Bond Corporation Aircraft Supply Store Bio-Catalytic Enterprises Inc Biotechnology Company L&G Signs & Designs ... Sign Shop Mainline Industries Inc Medical Supply Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5468368
    Latitude
    42.0924141

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    FAQs

    What type of property is this?
    Manufacturing property - Historic Mill Building, Huge Potential
    Where is this manufacturing property located?
    The property is located at 1 Allen St Springfield, MA.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Potential development opportunity.; Approved for federal and state historic tax credits.; Located in an Opportunity Zone.
    Request Owner's contact information
    1 Allen St 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
    1 Allen St Springfield, MA 01108
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