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    225 Park Ave West Springfield, MA 01089

    Sponsored
    For Sale
    $2,450,000

    Prime location, KeyBank leaseback, high potential.

    Property size:
    23,554 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a mixed-use property in West Springfield, MA, encompassing two buildings on four parcels totaling 23,554 square feet. The property features a prominent five-story office tower and a single-story building, offering flexibility for various business operations. The main building boasts luxurious office space, including a boardroom and multiple kitchens, and a two-lane drive-through/ATM. KeyBank, a national tenant, has a leaseback agreement for their recently renovated first-floor branch and a portion of the third floor, ensuring a stable income stream. The adjacent single-story building is currently vacant, presenting an opportunity for additional leasing or redevelopment. Located on a corner lot at a signalized intersection, the property enjoys high visibility and accessibility, situated minutes from downtown Springfield, major retail corridors, the Eastern States Exposition, and area highways. The property includes 71 parking spaces and an elevator in the tower. The sale includes four separate parcels (217, 225, 229, and 241 Park Ave.), offering diversification and potential for future development. Built in 1974, the property is zoned BA-1 and offers a compelling value-add investment opportunity with a current occupancy of 14%. The asking price is $2,450,000, with a price per square foot of $104.02. The lease type is NNN, and the investment type is a sale/leaseback.

    Property Features for 225 Park Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    23,554 SF
    Lot Size
    56,192 SF

    Building Details

    Year Built
    1974
    Buildings
    2
    Stories
    5

    HighLights

    • Four separate parcels included (217, 225, 229, and 241 Park Ave.).
    • Corner lot at a signalized intersection with high visibility.
    • Excellent location near downtown Springfield, major highways, and the Eastern States Exposition.
    • Ample parking with 71 spaces.
    • Sale/leaseback opportunity with KeyBank, a national tenant.
    • Elevator in the five‑story office tower.
    Property Profile Location Intelligence

    Current Use by Public Records

    KeyBank Bank KeyBank ATM Atm

    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
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6221853
    Latitude
    42.1036622

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    FAQs

    What type of property is this?
    Individual retail property - Prime location, KeyBank leaseback, high potential.
    Where is this individual retail property located?
    The property is located at 225 Park Ave West Springfield, MA.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: Four separate parcels included (217, 225, 229, and 241 Park Ave.).; Corner lot at a signalized intersection with high visibility.; Excellent location near downtown Springfield, major highways, and the Eastern States Exposition.
    Request Owner's contact information
    225 Park Ave West Springfield, MA 01089
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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
    225 Park Ave West Springfield, MA 01089
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