1150 Hall of Fame Ave - Health Club FOR SALE


Springfield, MA 01105
$14,965,000 USD
332-345-4222
1150 Hall of Fame Ave, Springfield, MA for Sale
$14,965,000 USD
Health Club - FOR SALE
1/2
null | 6.5% Cap Rate

1150 Hall of Fame Ave
Springfield, MA 01105


HIGHLIGHTS

  • LA Fitness Showing Strong Commitment to the Site
  • Located at the Basketball Hall of Fame Entertainment Complex on the Connecticut Riverfront
  • Under Market Rent for the Law Firm
  • LA Fitness is an Individual Unit as Part of a Larger Condominium Complex Subject to a Ground Lease

OVERVIEW

NNN Pro is pleased to present the exclusive listing for the property leased to Fitness International, LLC, Pellegrini, Seeley, Ryan & Blakesley, P.C, (PSRB, P.C.) and Professional Physical Therapy located at 1150 Hall of Fame Avenue, Springfield, MA 01105. The site consists of roughly 74,978 rentable square feet of building space on an estimated 3.56-acre parcel of land. The LA Fitness is subject to a 15- year NN lease extension, which was extended as of 9/1/2023, while the law firm and physical therapist have 4.5 years and roughly 1 year remaining on their leases. The upcoming NOI of the subject property is $972,667. The subject property is a condominium unit within the "Springfield Riverfront Condominium" complex. The entire complex is subject to a ground lease held by the Springfield Riverfront Development Corporation, with the remaining term lasting Seventy- Five (75) years, expiring in 2099.

FOR SALE DETAILS

PRICE

$14,965,000 USD

PRICE/SF

$163 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LA Fitness

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

3.56 AC

LAND SF

155,074 SF

ZONING

WC

APN/PARCEL ID

SPRI-012168-000000-000066,SPRI-012168-000000-000076,SPRI-012168-000000-000086,SPRI-012168-000000-000096,SPRI-012168-000000-000099

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.