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    1373 Main St Springfield, MA 01103

    For Lease
    $18 SF/Yr

    Prime location, 41,329 sqft office space.

    Lot size:
    41,329 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional four-story, 41,329 square foot building, constructed in 1909, presents a unique investment opportunity in the heart of downtown Springfield. Located within the vibrant Market Place complex at 1373-1383 Main Street, this historically significant property offers unparalleled accessibility. Its strategic position ensures proximity to City Hall, the MassMutual Center, and major area highways, providing convenient access for both tenants and clients. The building's classification as a Traditional Office space, under B3 zoning in Hampden County, allows for a variety of uses. The single building comprises multiple tenancies, making it ideal for a diverse portfolio of businesses or a single large-scale operation. Its rich history and prime location combine to create a compelling investment prospect with significant potential for growth and return. The building's 41,329 square feet are spread across four stories, offering ample space for various configurations to suit diverse business needs. This property represents a rare chance to acquire a landmark building in a thriving downtown area. Its established location and flexible zoning make it an attractive option for a wide range of commercial enterprises.

    Property Features for 1373 Main St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    41,329 SF
    Total Rate
    61993.5

    Building Details

    Year Built
    1909
    Buildings
    1
    Stories
    4

    Unit(s) available at that property

    Space
    rear
    Size
    1,056 SF
    Rate per SF
    $18

    HighLights

    • Historic four‑story, 41,329 square foot building.
    • Multiple tenancy office building.
    • Located in downtown Springfield, MA within the Market Place complex.
    • Convenient access to City Hall, MassMutual Center, and area highways.
    • B3 zoning in Hampden County.
    • Year built: 1909.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Las Kangris Restaurant ... Family Restaurant

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Law Firm Food Market 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
    -72.5896019
    Latitude
    42.1023917

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    FAQs

    What type of property is this?
    Restaurant - Prime location, 41,329 sqft office space.
    Where is this restaurant located?
    The property is located at 1373 Main St Springfield, MA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Historic four-story, 41,329 square foot building.; Multiple tenancy office building.; Located in downtown Springfield, MA within the Market Place complex.
    Request Owner's contact information
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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
    1373 Main St Springfield, MA 01103
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