297 Main St Monson, MA 01057-1306
- Office buildings
- 4,808 SF
- 0.66 lot acres
Mar 10, 2021
Current Use by Public Records
- Office buildings
Property Details for 297 Main St
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.66 lot acres
- Property size
- 4,808 SF
- Zone code
- CC
- Property type
- Office buildings
- APN
- MONS M:116 B:050A
- APU
- MONSM116B050A
Description
This unique mixed-use property, situated at 297 Main Street in Monson, Massachusetts, presents a compelling investment opportunity. Located on a 0.66-acre lot at the corner of Main and Bliss Streets, this building enjoys high visibility and convenient access to downtown Monson and Route 32. Formerly a church, the structure offers approximately 2,250 square feet of space, currently configured as commercial space on the first floor, a one-bedroom apartment on the second floor, and a partially finished basement. The property benefits from a sizable parking area, a significant advantage in this location. Previous approvals have been secured for a dental practice, providing a clear path for a specific use, although the property's versatility allows for a range of reconfiguration options to suit various multi-tenant needs. Its proximity to the Connecticut border adds to its strategic appeal. This property is priced at $225,000 and offers significant potential for renovation and redevelopment, making it an attractive proposition for investors seeking a multi-use property in a desirable location. The building's history and existing infrastructure provide a solid foundation for a variety of commercial and residential uses. The large parking area is a key feature, enhancing the property's appeal to potential tenants. This is a rare opportunity to acquire a well-located mixed-use building with significant upside potential.
Value Estimations
-
AI approach
- Estimation
- $65,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $100,000
- 6.5%
- $95,000
- 7%
- $90,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $95,000
- Geo Method
- $75,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $95,000
- Retail
- $105,000
- Mixed-Use
- $105,000
- Hospitality
- $105,000
- Educational
- $80,000
- Residential Income
- $90,000
- Energy
- $85,000
- Income-Based Land
- $80,000
- Food Service
- $85,000
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Location Insight
- Map
- Local Demand
- City
- Monson
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.3117
- Latitude
- 42.0912
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA