225 Park Ave West Springfield, MA 01089

Property Details for 225 Park Ave

Year built

1974

Lot size

1.29 lot acres

Property size

23,554 SF

Property type

Retail properties & Spaces

Property subtype

Office properties & Spaces

Description

This exceptional investment opportunity presents a mixed-use property in West Springfield, MA, encompassing two buildings on four parcels totaling 23,554 square feet. The property features a prominent five-story office tower and a single-story building, offering flexibility for various business operations. The main building boasts luxurious office space, including a boardroom and multiple kitchens, and a two-lane drive-through/ATM. KeyBank, a national tenant, has a leaseback agreement for their recently renovated first-floor branch and a portion of the third floor, ensuring a stable income stream. The adjacent single-story building is currently vacant, presenting an opportunity for additional leasing or redevelopment. Located on a corner lot at a signalized intersection, the property enjoys high visibility and accessibility, situated minutes from downtown Springfield, major retail corridors, the Eastern States Exposition, and area highways. The property includes 71 parking spaces and an elevator in the tower. The sale includes four separate parcels (217, 225, 229, and 241 Park Ave.), offering diversification and potential for future development. Built in 1974, the property is zoned BA-1 and offers a compelling value-add investment opportunity with a current occupancy of 14%. The asking price is $2,450,000, with a price per square foot of $104.02. The lease type is NNN, and the investment type is a sale/leaseback.

Location Insight

City

West Springfield

County

Hampden

State

Massachusetts

Longitude

-72.6222

Latitude

42.1037