225 Park Ave West Springfield, MA 01089
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Prime location, KeyBank leaseback, high potential.
Property size:
23,554 SFProperty 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
Listing Agency: SR Commercial Realty Listing Agent: Paul Bongiorni
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Location Intelligence
Current Use by Public Records
KeyBank
Bank
KeyBank ATM
Atm
Location Insight
- Map
- Local Demand
- City
- West Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6221853
- Latitude
- 42.1036622
Nearby Similar for Sale
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.