Current Use by Public Records
- Retail properties & Spaces
Property Details for 924-934 Main St
- Year built
- 1951
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents a two-story, multi-unit office building totaling 5,658 square feet situated on a prominent 8,891 square foot lot in Springfield, Massachusetts. Located just blocks from the MGM casino, this high-visibility property boasts four units, two on each floor. Two larger units (approximately 1,829 square feet each) and two smaller units (approximately 1,000 square feet each) provide flexibility for various tenants. The first-floor units benefit from access to a partially finished basement, offering additional usable space. Each unit features separate gas and electric meters for efficient utility management. The property includes a fenced, paved parking lot accommodating 20 vehicles. Significant improvements have been made, including roof and window replacements (approximately 10 years ago), installation of high-efficiency LED lighting, and a recent HVAC unit replacement (less than two years ago). The building is zoned B2 and offers a pro-forma NOI of $37,242 and a pro-forma cap rate of 7.23%. The asking price is $515,000. All information is provided as per owner. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location with strong potential for future growth.
Value Estimations
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AI approach
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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
- -72.5833
- Latitude
- 42.0983
