1506 Riverdale St West Springfield, MA 01089-4640
- Turn key restaurants
- 9,874 SF
- 1.29 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1506 Riverdale St
- Year built
- 1829
- Construction
- FRAME
- Lot size
- 1.29 lot acres
- Property size
- 9,874 SF
- Property type
- Turn key restaurants
- APN
- WSPR M:00226 B:10050 L:000J3
- APU
- WSPRM00226B10050L000J3
Description
This exceptional 1.29-acre commercial land parcel presents a remarkable opportunity for retail development in Hampden County. Its prime location offers unparalleled visibility and accessibility, situated near established big-box retailers, ensuring high foot traffic and strong brand recognition. The property is zoned for commercial use and is ideally suited for a variety of retail ventures, from restaurants and shops to service businesses. The single-tenant configuration allows for complete design flexibility and control over the development process. The seller is open to exploring both land lease and build-to-suit options, providing flexibility to accommodate diverse investment strategies and development preferences. This presents a unique chance to secure a highly desirable location for a new retail establishment or to expand an existing business. The property's size and location make it an attractive investment for developers seeking a high-return opportunity in a thriving retail market. Serious inquiries are encouraged to explore the possibilities and secure this exceptional piece of commercial real estate. The seller is motivated and ready to negotiate favorable terms. Don't miss this chance to capitalize on this prime retail location. All necessary utilities are available at the site. The property is easily accessible from major roadways, ensuring convenient access for customers and employees.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $585,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $625,000
- 6.5%
- $615,000
- 7%
- $535,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $515,000
- Geo Method
- $555,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $665,000
- Retail
- $645,000
- Mixed-Use
- $620,000
- Hospitality
- $680,000
- Educational
- $605,000
- Residential Income
- $585,000
- Energy
- $590,000
- Income-Based Land
- $570,000
- Food Service
- $605,000
Location Insight
- Map
- Local Demand
- City
- West Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6292
- Latitude
- 42.1446
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA