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Property profile & analytics
FOR LEASE
Investment properties

1500 Main St 8th Springfield, MA 01115

426,795 SF 3.99 ac lot Built 1970
Individually Owned 3-yr Hold ~ Est. High Equity
Property ID
US38-0739968
Property summary
AI-generated overview

This Hampden County, Massachusetts property, located at 1500 Main St, Springfield, 01115, offers a diverse range of office solutions. The space caters to various business needs, from traditional office setups to executive suites, coworking areas, medical offices, and creative workspaces. Tenancy is multiple, allowing for flexibility in space requirements. The building provides customizable options, ranging from single-person offices to large-scale spaces accommodating 100+ desks. Services include fully furnished and equipped private offices, adaptable to specific business needs, including serviced, custom, disaster recovery, and day offices. Coworking options are available, offering shared office or open-plan areas with hot-desking capabilities. Meeting rooms are also available, ranging from informal spaces with Wi-Fi to larger venues suitable for presentations, training, or conferences. Virtual office options are provided, including business addresses, mail handling, and virtual assistant services, with varying levels of access to physical office space. Flexible working plans offer access to a global network of workspaces, providing options for private offices or coworking spaces with varying day-per-month access. The property's location in Springfield, MA offers convenient access to local amenities and transportation. While the total building square footage is not currently available, the space offers a wide array of options to suit various business sizes and preferences.

Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1970
Total area 426,795 SF
Lot 3.99 ac (173,804 SF)
Zoning code B3
APN SPRI S:08130 P:0132
UPID US38-0739968
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Tessier Associates Inc Architect
  • White Lion Brewing Company Production Facility Brewery & Distillery
  • Macmillan Group, LLC Real Estate Agency
  • Ironclad Services Construction Company General Contractor
  • Tower Grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$25.89M
Blend (final) Blend
$30.91M
Owner & transaction history
Sprfield Hospitality Hldg · 3 yrs held
Sprfield Hospitality Hldg
since 2023
7 recorded transactions
2023
Price N/A
2022
Price N/A
2020
Price N/A
2020
Price N/A
2019
Price N/A
2019
Price N/A
2018
$6.9M
Zoning & alternative use
B3 · Springfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $36.6M +8.7%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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