Springfield Multi-Tenanted Commercial Investment

133-141 State Street Springfield, MA 01103

133-141 State Street, Springfield, MA, 01103
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FOR SALE
Property Type:
Multi Tenant Office
Amount:
$1,300,000
Last Verified:
May 10, 2024

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Description

Unlock an outstanding investment opportunity with this two-story building in the dynamic center of Springfield's Central Business District. Located directly opposite the Mass Mutual Center and just steps away from the MGM Casino, this location boasts exceptional visibility and accessibility, ensuring high foot traffic. The ground floor is alive with a mix of retail venues including Cana + Cafe, Juguitos, Suite Up Springfield, Avertest, and the Sun & Moon Spa. These establishments draw a varied crowd, adding to the property’s allure.On the second floor, a collection of office spaces is occupied by tenants such as HomeCare Hands, Dennis Cell Co, SR Commercial, and the Blue Sox, creating a professional atmosphere. Recent enhancements across the suites, along with a new heating system installed in 2021, highlight the building’s ongoing upgrades. For convenience, there’s a small parking area behind the building for approximately 5-6 cars, with additional on-street parking on State Street and several nearby monthly parking lots. This property represents a significant investment opportunity in downtown Springfield, perfect for investors looking for a mix of solid income and growth potential.

The property is located in the Central Business District in downtown Springfield.


Year Built: 1955
Building Size: 16116sq ft
Building Class: B
Lot Size: 0.23 acres

Map of 133-141 State Street, Springfield, MA, 01103

Presented by:
Jennings Real Estate Services, Inc.

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Kevin Jennings


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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.