Property summary
This exceptional commercial property at 624 Worthington Street in the heart of Springfield, MA, presents a unique investment opportunity. Situated on a 0.11-acre lot, this stand-alone building boasts a prime downtown location, just minutes from the casino, the MassMutual Center, and the Basketball Hall of Fame. The property features a newly installed private, partially paved driveway providing ample parking for patrons and employees. Large storefront windows offer excellent visibility for advertising, attracting potential customers. Inside, the building offers a versatile layout, including a dedicated office area, a conference room/break room, and a spacious open function hall in the rear. This expansive hall is ideal for small indoor and outdoor gatherings, currently utilized successfully as a dance studio and multi-purpose function hall. Recent upgrades include the installation of new hardwood flooring, updated lighting, and efficient mini-split heating and air conditioning systems. A convenient kitchen area is also included. The property currently generates a monthly rental income of $1500. The seller is motivated and may consider financing with a suitable offer. The property can be delivered vacant at closing, providing flexibility for the new owner. This is a rare opportunity to acquire a well-maintained, high-visibility commercial building in a thriving downtown area.
Property profile
VerifiedCap rate & NOI
Current use
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Training Center
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Real Estate Agency
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
B1 · Springfield, MAZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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The district profile from the municipal source: what is on file for B1 in Springfield, MA.
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Find the owner behind the property.
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