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$2,450,000
Est. payment /mo
23,554 SqFt
UPDATED:
05/07/2024 07:05 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 23,554 sqft
Price per Sqft $104
MLS Listing ID 73197300
HOA Y/N false
Year Built 1974
Annual Tax Amount $78,759
Tax Year 2023
Lot Size 1.290 Acres
Acres 1.29
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.
Location
State MA
County Hampden
Zoning BA-1
Direction GPS
Exterior
Total Parking Spaces 71
Others
Senior Community false
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Listed by SR Commercial Realty