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    70 Bond St Springfield, MA 01104

    For Sale
    Contact for pricing

    High-NOI, renovated office building, 100% occupied.

    Property size:
    20,292 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fully occupied, single-tenant office building located at 70 Bond St, Springfield, MA 01104. The property, a 20,208 square foot, single-story building constructed in 2005 and extensively renovated in 2022, boasts a strong Net Operating Income (NOI) of $558,563. The building is currently 100% occupied by the Social Security Administration and the General Services Administration (GSA) under a modified lease with a firm 5-year term and a second 5-year option with 120 days' notice. Recent renovations included a complete overhaul of the HVAC system, installation of new security and CCTV systems, updated flooring and paint throughout, a renovated break room, and new parking lot lighting. The new layout prioritizes enhanced security and improved customer flow. The property features a new rooftop HVAC system and control system. This institutional-grade investment offers exceptional stability and strong returns, backed by a credit-rated tenant with a long-term lease. The building's modern amenities and prime location in Hampden County make it an attractive and secure investment. The property consists of one building with a total square footage of 20,292.

    Property Features for 70 Bond St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    20,292 SF

    Building Details

    Year Built/Renovated
    2005/2022
    Buildings
    1
    Stories
    1

    HighLights

    • Investment‑grade, single‑tenant office building occupied by the Social Security Administration and GSA.
    • 20,208 square feet of net rentable space in a 20,292 square foot building.
    • 100% occupancy with a 5‑year lease, plus a 5‑year option.
    • Strong NOI of $558,563.
    • Recently renovated in 2022, including a new HVAC system, security system, flooring, paint, and parking lot lighting.
    • Located at 70 Bond St, Springfield, MA 01104.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Social Security Administration Social Security Office Carew Street Development ... Real Estate Developer

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.600182623316
    Latitude
    42.111079249163

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    FAQs

    What type of property is this?
    Office Property / Space - High-NOI, renovated office building, 100% occupied.
    Where is this office property / space located?
    The property is located at 70 Bond St Springfield, MA.
    What are key features of this property?
    This property features: Investment-grade, single-tenant office building occupied by the Social Security Administration and GSA.; 20,208 square feet of net rentable space in a 20,292 square foot building.; 100% occupancy with a 5-year lease, plus a 5-year option.
    Request Owner's contact information
    70 Bond St Springfield, MA 01104
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    Springfield, MA 01104
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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
    70 Bond St Springfield, MA 01104
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