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.
This listing has been viewed 63 times in the past 208 days
Last Updated: May 10th, 2024 at 10:02pm
General Information for 217-241 Park Ave, West Springfield, Massachusetts 01089
Property TypeCommercial Sale
Price$2,450,000
MLS #73197300
List Date2024-01-29
Special Listing Conditions
StateMassachusetts
Street NamePark Ave
Unit
CityWest Springfield
Zip Code01089
CountyHampden
MLS Status
AssociationNo
Heat Zones
Sold Date
Building Area Total23554
Building Area Units0
Close Date
Close Price$0
Listing Service
UnparsedAddress217-241 Park Ave, West Springfield MA 01089
Zoning
Zoning DescriptionLegal Conforming
Business TypeCommercial
Interior Features for 217-241 Park Ave, West Springfield, Massachusetts 01089
* Approx. Living Area Total23,554 sq ft
MLS Area (Major)
OffMarketDate
Exterior Features for 217-241 Park Ave, West Springfield, Massachusetts 01089
* Parking Spaces71
* Year Built1974
Year Built Details
Year Built Source
Construction Materials
Approx. Street Frontage
Utilities
Disclosures for 217-241 Park Ave, West Springfield, Massachusetts 01089
Buyer Agent Compensation2%
Contingency
Financing
Disclosures
Documents Available
MLSPIN_COMP_BASED_ON
MLSPIN_COOP_COMP
MLSPIN_DISCLOSURE
Lead PaintUnknown
Facilitator Compensation0
TransactionBrokerCompensationType
BuyerAgencyCompensationType%
Financial Information for 217-241 Park Ave, West Springfield, Massachusetts 01089
Association Fee$0
Association Fee Frequency
Associaton Fee Includes
AssociationNo
Assessed Value
Real Estate Tax$0
Tax Year
Existing Lease Type
OriginalListPrice$2,600,000
Lifestyle Information for 217-241 Park Ave, West Springfield, Massachusetts 01089
Association Amenities
Frontage Type
GarageYNNo
Location information for 217-241 Park Ave, West Springfield, Massachusetts 01089
Marketing History for 217-241 Park Ave, West Springfield, Massachusetts 01089
MLSPIN_MARKET_TIME_BROKER
MLSPIN_MARKET_TIME_PROPERTY
PurchaseContractDate
Agent Information for 217-241 Park Ave, West Springfield, Massachusetts 01089