Property profile

1522 Boston Rd Springfield, MA 01129

FOR LEASE
Super regional malls
Property ID
US38-0578176
73,292 SF 3.82 ac lot Built 1970
Trust Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1970
Total area 73,292 SF
Lot 3.82 ac (166,421 SF)
Zoning code B1
APN SPRI S:01655 P:0296
UPID US38-0578176

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Wine and Liquor Store
  • Party Supply Store (Bike/Boat/Book/etc) Store

Location

1522 Boston Rd Springfield, MA 01129
Springfield metro Census 801503 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$9.52M
CAP Approach CAP
$15.10M
Comparable Approach Comparable
by Request
Blend (final) Blend
$11.12M

Owner & transaction history

since 2020
Last sale
$11.4M
2 recorded transactions
2020
Price N/A
2001
$11.4M

Zoning & alternative use

B1 · Springfield, MA
Top alternative use upside
Commercial (general) $8.0M +291.7%
Restaurant $7.8M +279.9%
Office building $7.2M +251.1%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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