645 Belmont Ave Springfield, MA 01108-2440
- Office buildings
- 2,820 SF
- 0.14 lot acres
Current Use by Public Records
- Knight Real Estate / Real Estate Agency
Property Details for 645 Belmont Ave
- Year built
- 1905
- Lot size
- 0.14 lot acres
- Property size
- 2,820 SF
- Zone code
- C1
- Property type
- Office buildings
- APN
- SPRI S:01235 P:0238
- APU
- SPRIS01235P0238
Description
This exceptional Springfield, Massachusetts warehouse at 645 Belmont Ave presents a unique investment opportunity. The property boasts a substantial 220,800 square feet of total building space, with 3,000 square feet currently vacant and available for lease. Built in 1905, this three-story structure sits on a 0.14-acre lot and is zoned C1, offering considerable flexibility for a variety of commercial uses. The building features ten total parking spaces, providing ample convenience for tenants and visitors. The property's location in Hampden County, with its high traffic count and excellent visibility, makes it ideal for businesses seeking strong exposure. The existing infrastructure includes two full bathrooms, gas heat, and central air conditioning, ensuring a comfortable and functional workspace. The building is exceptionally well-maintained and suitable for a wide range of businesses, including professional offices, medical practices, service providers, retail outlets, social services, and educational institutions. The vacant space is currently available for lease at a competitive rate. The property's Assessed Parcel Number (APN) is S:01235 P:0238. This is a single-tenant building offering a rare opportunity to acquire a well-located, established warehouse in a thriving commercial area. Don't miss this chance to secure a valuable asset in a prime Springfield location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $320,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $335,000
- 6.5%
- $330,000
- 7%
- $320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $315,000
- Geo Method
- $310,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $295,000
- Retail
- $345,000
- Mixed-Use
- $280,000
- Hospitality
- $295,000
- Educational
- $310,000
- Residential Income
- $315,000
- Energy
- $325,000
- Income-Based Land
- $375,000
- Food Service
- $275,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.5544
- Latitude
- 42.0858
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA