1522 Boston RdSpringfield, MA 01129

Property Details for 1522 Boston Rd

Year built

1970

Lot size

3.82 AC

Property size (Sq ft)

73,292 SF

Zone code

B1

Property type

Retail properties

Property subtype

Super regional malls

APN

SPRI S:01655 P:0296

APU

SPRIS01655P0296

Description

This exceptional retail property, Lowe's Plaza, located at 1522 Boston Road in Springfield, Massachusetts, presents a unique opportunity for a single tenant to occupy the entire 25,207 square foot space. Situated in Hampden County, this property is categorized as a regional mall shopping center, offering significant visibility and accessibility. The entire building is currently vacant, providing a blank canvas for a new business to establish a strong presence in the Springfield market. The property's address is easily accessible, offering convenient access for customers and employees alike. The expansive square footage allows for a wide range of retail configurations, from large-format stores to multi-use spaces. This is an ideal location for businesses seeking high visibility and ample space to showcase their products and services. The property's location within a regional mall setting provides inherent advantages, including potential synergy with existing businesses and access to a large customer base. This presents a rare chance to secure a substantial retail footprint in a desirable Springfield location. The property is ready for immediate occupancy, allowing for a swift and efficient launch of operations. Interested parties are encouraged to inquire for further details and to explore the possibilities this exceptional retail space offers.

• CAP approach

  CAP return

  Valuation

  6%

  $17,812,514

  6.5%

  $16,442,321

  7%

  $15,267,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,132,358

  Geo Method

  $24,132,358

• Alternative Use

  Use

  Valuation

  Residential

  $13,869,713

  Hospitality

  $12,704,583

  Educational

  $10,570,064

  Medical

  $10,933,584

  Retail

  $16,442,321

Location Insight

City

Springfield

County

Hampden

State

Massachusetts

Latitude

42.1427

Longitude

-72.492

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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