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235 Chestnut Street, Springfield, MA

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235 Chestnut Street

Springfield, MA 01103-1100 - Hampden County Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1961
Stories:3 Typical Floor:8,266 SF Building Size:24,800 SF
For Sale Price:$1,195,000 Price/SF:$48.19
Cap Rate:13.37 %
Parking:Free Surface spaces are available; Ratio of 3.08/1,000 SF Amenities:Bus Line

Sale Notes:
10+ Cap! 27,000 +/- sf office bldng nr 91&Registry

NOW with TWO FLOORS LEASED as of Jan 2017! Incredible opportunity for user or investor - 27,000 +/- sf building with approximately 8,000 sf top floor rented through middle of 2018 and providing strong income AND now approx 8,000 sf of first floor space leased for 3-5 years, plus 10,000+ sf available to use or lease (approx 8,000 sf on 2nd floor and 3,000 sf on lower level). Beautiful building with open spaces, private offices, conference rooms, kitchenettes, and approx. 70 car onsite parking! Desirable location next to the Registry of Motor Vehicles, near bus routes and easy access to Route 91. Don't miss out. Use for yourself, or fill the vacant space to generate a 12++ Cap return. (Note current cap is over 4 with the space on the first floor, second floor and lower level vacant - at below market rent projects to 15+ cap).

Super easy access to Route 91, bus routes, and adjacent to the Registry of Motor Vehicles. 70 car parking.

Marcus & Millichap Inc
Evan Griffith
(781) 373-7100

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