534 Sumner Ave Springfield, MA 01108
- Medical offices
- 9,300 SF
- 0.53 lot acres
Current Use by Public Records
- Medical offices
Property Details for 534 Sumner Ave
- Year built
- 1942
- Lot size
- 0.53 lot acres
- Property size
- 9,300 SF
- Zone code
- SC1B1
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- SPRI S:11280 P:0103
- APU
- SPRIS11280P0103
Description
This fee-simple, stabilized investment property located at 534 Sumner Ave, Springfield, MA 01108, offers a compelling opportunity. The single-story, 9,300 square foot traditional office building, built in 1942, sits on a 23,087 square foot lot and boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $108,816. The asking price is $2,000,000, representing a 5.44% cap rate and a price per square foot of $215.05. The property is zoned Sc1B1 and benefits from its convenient location near Route 91 and the Julia B. Buxton Bridge, providing excellent access to major transportation routes. The building is surrounded by various neighborhood retail amenities and is served by several bus lines (G1, G5, T1, T2, & T92), enhancing its accessibility. This multi-tenant property operates under a gross lease structure. The property's strong performance and strategic location make it an attractive investment opportunity. The property's APN is SPRI-011280-000000-000103.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.5572
- Latitude
- 42.0868
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
