Property summary
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
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
SR2B1 · Springfield, MAZoning
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Zoning designation
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The district profile from the municipal source: what is on file for SR2B1 in Springfield, MA.
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