Page Blvd Springfield, MA 01104
- Commercial real estate
- 0.67 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for Page Blvd
- Year built
- 1953
- Lot size
- 0.67 lot acres
- Property type
- Commercial real estate
Description
This exceptional commercial property, situated on Page Blvd in Springfield, MA, presents a unique investment opportunity. Spanning over half an acre (0.67 acres) and boasting 3278 square feet of A-zoned space, this property currently houses two restaurants and two ministries, all operating under short-term leases. Tenants are responsible for all utilities and renovations, minimizing owner responsibilities. The property's versatility allows for a wide range of uses, including but not limited to, a bank, chain store, or restaurant. Its previous tenant, a bank, left behind a significant asset: two large, two-lane concrete drive-thru lanes. This, combined with a substantial parking lot, eliminates parking concerns. The property's strategic location on Route 20 ensures high visibility and accessibility, with excellent proximity to major roadways including I-291, I-91, and the Massachusetts Turnpike. The existing infrastructure, including the drive-thru lanes, suggests potential for alternative uses such as a car wash or gas station, subject to obtaining the necessary permits. This property offers a compelling blend of existing income, prime location, and significant redevelopment potential, making it an attractive investment for discerning buyers. The asking price is $950,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.5661
- Latitude
- 42.1285