• Broker Jonathan Little 4132336066
  • Broker Kevin Jennings 4132651219

2.52 Acre Retail w/ 3 Corporate Ground Leases 1349 Boston Rd 4,114 SF Retail Building Springfield, MA 01119 $3,990,000 ($969.86/SF) 6.97% Cap Rate

View Photo

EXECUTIVE SUMMARY

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

ATTACHMENTS

1349-1355 Boston Road - Property Brochure 2025

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,114 SF
Building Class
C
Year Built
1924
Price
$3,990,000
Price Per SF
$969.86
Cap Rate
6.97%
NOI
$278,045
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
2.52 AC
Zoning
Business A
Parking
83 Spaces (20.18 Spaces per 1,000 SF Leased)
Frontage
300’ on Boston Road

LINKS

  • Western Massachusetts Commercial and Industrial Real Estate

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
Boston Rd Parker St, E 27,660 2018 0.04 mi
Boston Rd Lucerne Rd, W 20,145 2018 0.08 mi
Boston Rd Lucerne Rd, E 21,324 2018 0.12 mi
Parker St Boston Rd, N 29,147 2025 0.13 mi
Parker Street - 26,429 2025 0.14 mi
PARKER STREET Boston Rd, N 27,732 2025 0.14 mi
Parker St Boston Rd, SW 18,607 2024 0.16 mi
Parker Street Boston Rd, S 26,558 2023 0.17 mi
MA 21;MA 141 Boston Rd, S 27,336 2025 0.17 mi
Boston Rd Pasco Rd, E 20,961 2025 0.17 mi
Walk Score®
Very Walkable (72)

NEARBY MAJOR RETAILERS

Planet Fitness
Applebee's
Golden Corral Buffet & Grill
Starbucks
Stop & Shop
Bank of America
TD Bank
Friendly's Ice Cream Shop

PROPERTY TAXES

Parcel Number SPRI-001655-000000-000472 Improvements Assessment $1,214,700
Land Assessment $1,493,000 Total Assessment $2,707,700

MAP

ADDITIONAL PHOTOS

View Photo 1349-1355 Boston
View Photo 8-web-or-mls-1349_1355_Boston_0013
View Photo 10-web-or-mls-1349_1355_Boston_0015
View Photo 18-web-or-mls-1349_1355_Boston_0998
View Photo 1349-1355SitePlan
  • Listing ID: 30131989

  • Date on Market: 11/20/2023

  • Last Updated: 5/28/2025

  • Address: 1349 Boston Rd, Springfield, MA 01119

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