INVESTMENT PROPERTY

Office for Sale
Catylist Listing ID: 30043339
Property Subtypes: Office Building
Building Size (RSF): 9,400 SF
Gross Land Area: 23,435 SF
Sale Price: $650,000
Unit Price: $69.15 PSF
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: 7.4%
Last Updated: 11/16/2017

Overview / Comments

Site is improved with one-story masonry industrial bldg that was converted into offices about 1991. Interior has 2'x4' ceiling tiles w/fluorescent lighting combination of carpeting & tiles w/central air conditioning. Both front & back entrances have ADA ramps & also has little outside patio. There are 3 private offices, conference room, large full kitchen, 4 or 5 restrooms and 5 / 6 large therapy & treatment rooms which are 15'x20' / 20'x20'. There is about 1,500 to 2,000sf of unfinished space that could be renovated and leased to another tenant.
BAROCO Corp. leases 6,400sf of office space and has been leasing since 1990's and current lease expires 10/31/20 & they have one 5-year option with 5% increase. BAROCO Corp. operates about 9 facilities in MA & CT. This facility is used for Rehab & Offices.

Site located in mixed commercial, industrial & residential area with convenient access to Agawam, West Springfield & Springfield. Site has good I-91 access.
120' frontage on Roanoke Ave & 193' frontage on Cold Spring Ave. There are two curb cuts with about 30 parking spaces in front and back.

Attachments & Media

Additional Details

Nearest MSA: Springfield
County: Hampden
Tax ID/APN: WSPR-000457-014250-00000
Zoning: COMMERCIAL / INDUSTRIAL
Property Visibility: Excellent
Site Description: About 1996 owner installed a HVAC system. Flat roof / age unknown but owner says no problem. Built 1946 but effective age is estimated to be +/-1996. Tenant pays own utilities, HVAC, water & sewer and trash removal. Owner pays maint of HVAC, roof, landscaping & snow plowing, etc.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1946
Year Renovated: 1996
Roof Type: Flat
Parking Type: Surface
Parking Description: There is about 30 parking spaces in front and back.
Total Parking Spaces: 30
Heat Type: Natural Gas
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,859 101,944 218,888
Median Age: 36.34 36.48 36.77
Households: 5,568 40,995 84,796

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