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    1470 Allen St Springfield, MA 01118

    Sponsored
    For Sale
    $1,050,000

    High-traffic 3.45-acre lot, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.45-acre commercial and residential development opportunity is located in a prime Springfield, Massachusetts location at 1470 Allen Street, zip code 01118. Situated at the signalized intersection of Allen Street and Bicentennial Highway, this parcel boasts exceptional visibility and accessibility, with over 30,000 vehicles passing daily. The property's SR1B1 zoning permits a variety of uses, making it attractive for a range of developers. Its strategic location within a thriving neighborhood offers significant advantages. Neighboring businesses include a fully leased retail plaza (Bicentennial Plaza), McDonald's, Wendy's, Florence Bank, and several medical facilities, ensuring high foot and vehicle traffic. The site's proximity to the regional retail hub, Five Town Plaza, further enhances its appeal. The property also benefits from a dedicated right-of-way to the traffic signal, improving ingress and egress. This high-traffic location, combined with the flexible zoning and existing infrastructure, presents a compelling investment opportunity for developers seeking to capitalize on Springfield's robust commercial market. The asking price for this exceptional parcel is $1,050,000. Don't miss this chance to acquire a highly visible and strategically located property in a rapidly growing area.

    Property Features for 1470 Allen St

    General Information

    Property type
    Land
    Lot Size
    150,282 SF

    HighLights

    • 3.45‑acre commercial and residential development site in Springfield, MA (01118).
    • High visibility at the signalized intersection of Allen Street and Bicentennial Highway, with over 30,000 vehicles daily.
    • SR1B1 zoning allows diverse development options.
    • Excellent location near retail (Bicentennial Plaza, Five Town Plaza), restaurants (McDonald's, Wendy's), a bank, and medical facilities.
    • Dedicated right‑of‑way to traffic signal for easy access.
    • Asking price: $1,050,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -72.512298
    Latitude
    42.0948646

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    FAQs

    What type of property is this?
    Land - High-traffic 3.45-acre lot, ideal for development.
    Where is this land located?
    The property is located at 1470 Allen St Springfield, MA.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: 3.45-acre commercial and residential development site in Springfield, MA (01118).; High visibility at the signalized intersection of Allen Street and Bicentennial Highway, with over 30,000 vehicles daily.; SR1B1 zoning allows diverse development options.
    Request Owner's contact information
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    Springfield, MA 01118
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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
    1470 Allen St Springfield, MA 01118
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