Price Reduction
Address
217-241 Park Ave, West Springfield, MA
Price
$ 2,450,000
Property Attributes
- MLS#73197300
- TypeCommercial
- CountyHAMPDEN
- CityWest Springfield
- Zip01089
- StyleCommercial
- Year Built1974
- Taxes$ 78759
- Price$ 2,450,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage23554
- Lot Size1.29 Acres
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description
Unique investment opportunity in downtown West Springfield. The Park Tower site is a prime commercial real estate package available for sale, with a leaseback of approximately 14% of the building area to KeyBank. The sale includes a prominent 5-story office tower and a single-story office building, spread across four parcels. Park Tower (225 Park Ave.) features multiple floors of readily available and luxurious office space, including a boardroom and several kitchens, along with a two-lane drive-through/ATM. The tower is +/- 17,670 net SF. KeyBank will lease back their existing first floor branch, which was recently renovated, as well as a small portion of the 3rd floor. Adjacent to the tower is a vacant, single-story +/- 5,884 SF commercial building (229 Park Ave.) which could be suitable for a variety of uses. Located minutes from downtown Springfield, the Riverdale St./Rt. 5 retail corridor, the Big E, and area highways. Corner lot with great traffic counts and visibility.
| Price History | |
|---|---|
| 1/29/2024 | Listed $2,600,000 |
| 5/3/2024 | 6% - $2,450,000 |
General Features
| Zoning | BA-1 |
|---|---|
| Year Built | 1974 |
| Tax Year | 2023 |
| Business Type | Commercial |
| County | Hampden |
| Property Type | Commercial Sale |
| HOA / Comm Assn | No |
| Status | Active |
| Directions | GPS |
| City | West Springfield |
| Disclosures | All measurements/number of parking spaces approximate. Buyer to verify all information,zoning,use. Sale/leaseback terms subject to change. Buyer to pay lease commission/no leasing fee due to buyer's |
| Senior Community Y/N | No |
| Zoning Description | Legal Conforming |
| Lot Size Square Feet | 56192 |
| Waterfront Y/N | No |
| Street Name | Park Ave |
| Tax Annual Amount | 78759 |
| Home Warranty Y/N | No |
| Building Area Units | Square Feet |
| Standard Status | Active |
Exterior Features
| Total Parking | 71 |
|---|---|
| Lot Size Area | 1.29 |
| Building Area Total | 23554 |
| Lot Size Acres | 1.29 |
| Lot Size Units | Acres |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 01089
Price
Taxes
Visits
Year Built
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