OFFICE CONDOMINIUM FOR SALE

Office for Sale
Catylist Listing ID: 28551903
Property Subtypes: Office Building
Building Size (RSF): 3,542 SF
Gross Building Area: 17,710 SF
Sale Price: $249,900
Unit Price: $70.55 PSF
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/2/2019

Overview / Comments

Five story elevated office condominium building containing about 17,710 of office/retail space. There are total of five (5) office/retail condominium units. Public transportation available directly in front of the building on State Street. Property has excellent visibility from State Street and is ideal for lawyers needing access to courthouses & Registry of Deeds. Excellent access from I-91. Space can be easily subdivided providing additional income. Great Location - must see!

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Additional Details

Nearest MSA: Springfield
County: Hampden
Tax ID/APN: 0000
Zoning: BUSINESS C
Market Type: Large
Side of Street: South
Road Type: Paved
Property Visibility: Excellent
Transportation: Bus, Highway, Taxi
Site Description: 3,542/sf which consists of reception area, clerical area, kitchen & breakroom, 2 conference rooms, and 11 private offices in two suites, but could be easily reconfigured into one large suite or multiple suites of various sizes. Within past 12-14 years new double hung vinyl windows, roof, and boiler installed. Lobby area also remodeled. All as per owner. Monthly association dues $800, which includes heat, property insurance & maintenance of common areas. Central gas/oil steam boiler. Heat included in condo fee paid by owners. Central electric air-conditioning that are separately metered to each of the five (5) units in the building. There are four (4) on-site dedicated spaces adjacent to building on west side. There is also private parking lot attached to building on south side for additional parking at reasonable rates. The current owners have owned for past 27 years.
Area Description: Property located in the center of Springfield's Central Business District - 2 blocks from State & Main Street. Site directly across from newly renovated Mass Mutual Civic Center & between the Hampden County and the Federal Courthouses. And just opposite new hotel.
Total Number of Buildings: 1
Number of Stories: 5
Typical SF / Floor: 3,542 SF
Year Built: 1917
Year Renovated: 1986
Parking Type: Structure, Surface
Parking Description: There are four (4) on-site dedicated spaces adjacent to building on west side. There is also private parking lot attached to building on south side for additional parking at reasonable rates.
Heat Type: Oil
Zoning Description: Business C

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,551 153,806 268,043
Median Age: 30.01 33.97 36.87
Households: 10,859 58,671 103,726

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