1349 Boston Rd - Restaurant FOR SALE


Springfield, MA 01119
$3,990,000 USD
413-233-6066
1349 Boston Rd, Springfield, MA for Sale
$3,990,000 USD
Restaurant - FOR SALE
1/6
null | 6.97% Cap Rate

1349 Boston Rd
Springfield, MA 01119


OVERVIEW

Jennings Real Estate Services, Inc.- The offering includes three ground leases on a 2.52 acre parcel that is improved with a free standing bank building, a free standing restaurant and a cell tower. The M&T bank consists of 3,116 square feet which was built in 2006 with a recent significant renovation. The restaurant is a corporate Applebee's lease and is a 4,884 square foot building built in 2007. The cell tower at the rear of the property is leased to Verizon. The property is located on the busy commercial corridor of Boston Road in Springfield that sees over 23,000 vehicle trips per day. PROPERTY HIGHLIGHTS M&T BANK GROUND LEASE IMPROVED WITH A 3,116 SQUARE BANK BANCH WITH DRIVE THRU APPLEBEES GROUND LEASE IMPROVED WITH A 4,884 SQUARE FOOT RESTAURANT VERIZON WIRELESS GROUND LEASE IMPROVED BY A MULTI CARRIER CELL TOWER

FOR SALE DETAILS

PRICE

$3,990,000 USD

PRICE/SF

$897 USD /SF

CAP RATE

6.97%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2.52 Acre Retail w/ 3 Corporate Ground Leases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1924

SPRINKLERS

-

PARKING SPACES

83

LAND DETAILS

LAND ACRES

2.52 AC

LAND SF

109,771 SF

ZONING

Business A

APN/PARCEL ID

SPRI-001655-000000-000472

ASK ABOUT THIS PROPERTY

Jonathan LittleJennings Real Estate Services, Inc.More Info
413-233-6066

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Jonathan LittleJennings Real Estate Services, Inc.More Info
413-233-6066

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