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    2 Medical Center Dr Springfield, MA 01199

    For Sale
    $662,500

    5,300 SF Medical Office, $662,500

    Property size:
    5,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 5,300 square foot medical office condominium in Springfield, Massachusetts, presents a unique owner-user investment opportunity. Located at 2 Medical Center Drive, Suite 410, this property boasts a prime location, directly connected to Baystate Medical Center and in close proximity to Mercy Medical Center and the vibrant Main Street medical corridor. The unit offers convenient access to major transportation arteries, including I-91 and I-291, ensuring seamless commutes for both staff and patients. An on-site parking garage provides ample parking for convenience. The asking price is $662,500, translating to $125 per square foot. This well-situated medical office space is ideal for a variety of healthcare practices seeking a modern, efficient, and strategically located facility. The property is available for occupancy on May 22, 2024. The building is a condominium, offering the benefits of ownership with shared responsibilities. This presents a rare opportunity to acquire a well-positioned medical office space in a thriving healthcare hub. The property's connection to a major medical center and its proximity to other healthcare facilities make it an attractive investment for medical professionals and businesses. The convenient access to major highways further enhances its appeal.

    Property Features for 2 Medical Center Dr

    General Information

    Property type
    Medical offices
    Square Feet
    5,300 SF

    Building Details

    Units
    410

    HighLights

    • $662,500 asking price for this medical office condominium.
    • 5,300 square feet of space.
    • $125 per square foot.
    • Owner/user investment opportunity.
    • Located at 2 Medical Center Drive, Ste 410, Springfield, MA 01199.
    • Available May 22, 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Daniel Maurice Hubbs, ... Surgeon Jonathan Y. Lee, ... Plastic Surgeon Pranay M. Parikh, ... Orthopedic Surgeon John M. Joelson, ... Cardiologist Baystate Plastic & Reconstructive ... Medical Office

    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
    USA
    State
    Massachusetts
    Longitude
    -72.6029199
    Latitude
    42.1208719

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    FAQs

    What type of property is this?
    Medical office - 5,300 SF Medical Office, $662,500
    Where is this medical office located?
    The property is located at 2 Medical Center Dr Springfield, MA.
    What is the asking price?
    The asking price for this property is $662,500.
    What are key features of this property?
    This property features: $662,500 asking price for this medical office condominium.; 5,300 square feet of space.; $125 per square foot.
    Request Owner's contact information
    2 Medical Center Dr Springfield, MA 01199
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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
    2 Medical Center Dr Springfield, MA 01199
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