Loring St Springfield, MA 01105

Property Details for Loring St

Year built

1923

Lot size

0.08 lot acres

Property type

Commercial real estate

Description

This unique Springfield, MA property offers a compelling investment opportunity. Priced at $400,000, it features a spacious warehouse/studio building perfect for a variety of uses. Currently configured as an artist's residence, the building boasts 12-foot ceilings, a concrete floor, a secure vault room, and a sizable loft area. The open layout provides ample space for creative endeavors or business operations. The building is set back from Loring Street, a residential one-way street, offering a degree of privacy and quiet. A significant advantage is the inclusion of two additional lots, each zoned for residential use, located on either side of the driveway. These lots previously held multi-family dwellings, presenting a potential for future development and increased income generation. The property sits conveniently close to the Springfield casino. The buyer is responsible for verifying all permitted uses and zoning regulations. This is an exceptional chance to acquire a versatile commercial property with significant upside potential, combining immediate income possibilities with long-term development prospects. The 0.08-acre lot encompasses the building and the two adjacent residential lots.

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Longitude

-72.5819

Latitude

42.0961