Prime Redevelopment Opportunity in Downtown Holyoke

378 Maple St Holyoke, MA 01040

378 Maple St, Holyoke, MA, 01040
378 Maple St, Holyoke, MA, 01040
FOR SALE
Property Type:
Schools/Education
Amount:
$835,000
Last Verified:
Aug 29, 2024

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Description

Prime Redevelopment Opportunity: This former synagogue, situated in the heart of downtown, spans 0.85 acres across five parcels, occupying an entire city block bordered by High St., Cabot St., Maple St., and Worcester Place. With traffic signals at two corners, this property offers excellent visibility and accessibility. The 18,345 square foot building features two sanctuaries, offices, classrooms, large community rooms, a spacious kitchen, and an elevator. Its existing layout is ideal for educational purposes, making it a strong candidate for revitalization as a school or community center. Alternatively, the site holds significant potential for redevelopment, offering the opportunity to repurpose the property for various commercial or residential projects.

The property is located in the heart of Holyoke, spanning a block between Main and Maple Streets.


Year Built: 1949
Building Size: 18345sq ft
Lot Size: 0.85 acres

Map of 378 Maple St, Holyoke, MA, 01040

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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.