Downtown Springfield Redevelopment Opportunity

8-10 Stearns Square Springfield, MA 01103

8-10 Stearns Square , Springfield, MA, 01103
8-10 Stearns Square , Springfield, MA, 01103
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$387,500
Last Verified:
Dec 05, 2024

Daily Email Blast
0 times



Description

Prime Redevelopment Opportunity in the Heart of Springfield's Central Business District!Located at 8-10 Stearns Square, this approximate 7,317 square foot building presents a unique investment opportunity in Springfield’s Dining District, an area undergoing significant revitalization efforts.Situated in a busy downtown location, this property enjoys high foot traffic and proximity to entertainment, retail, and office spaces. With new restaurant announcements forthcoming and ongoing improvements in the area, the Dining District’s growth continues to drive demand for new development and enhanced infrastructure. This property represents a compelling opportunity for forward-thinking investors to contribute to and benefit from Springfield's continued resurgence.

Location: Central Business District, Stearns Square
Surrounding
Improvements: $3,000,000 + renovations to adjacent Duryea Park & Stearns Sq,
Dining District, and street scape improvements.
Residents: Over 10,000 residents in the Downtown
Ideal Uses: Restaurant, Retail, Service
Condition: Being sold "as-is"

The property is located in downtown Springfield's Restaurant and Cultural center.


Year Built: 1900
Building Size: 7317sq ft
Building Class: C
Lot Size: 0.17 acres

Map of 8-10 Stearns Square , Springfield, MA, 01103

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.