Property profile

1030 State St Springfield, MA 01109

OFF-MARKET
Turn key restaurants
Property ID
US38-1250272
2,147 SF 0.4 ac lot Built 1970
Individually Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional restaurant property at 1030 State Street in Springfield, Massachusetts, presents a compelling investment opportunity. The 2,147 square foot building, constructed in 1970, is situated on a sizable 0.4-acre lot (17,472 square feet). Its strategic location near the American International College campus, MassMutual, and downtown Springfield ensures high visibility and foot traffic. A key advantage is the inclusion of a drive-thru window, a feature granted via a special permit (verification with the City of Springfield Planning Department is recommended). The property is legally conforming to zoning regulations. The asking price is $550,000, translating to $256.17 per square foot. The sale does not include the existing business name. All provided information is subject to buyer verification. This single-story building offers significant potential for a variety of restaurant or quick-service restaurant (QSR) concepts. Its established location and convenient drive-thru access make it an attractive proposition for both established and emerging businesses in the thriving Springfield market. The property's size and location offer ample opportunity for expansion or modification to suit a buyer's specific needs. Serious inquiries are encouraged to explore this remarkable commercial real estate offering.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1970
Total area 2,147 SF
Lot 0.4 ac (17,472 SF)
Zoning code SR2B1
APN SPRI S:11110 P:0201
UPID US38-1250272

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1030 State St Springfield, MA 01109-3132
Springfield metro Census 801401 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$270k

Owner & transaction history

since 2024
Last sale
$485,000
4 recorded transactions
2024
$485,000
2004
Price N/A
1993
$185,000
1987
$160,000

Zoning & alternative use

SR2B1 · Springfield, MA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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