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Epsone St Norice

esnrealtor@gmail.com +1(617) 637-8555

$ 1,980,000

Est. payment -/mo

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New

181-187 Chestnut St Springfield, MA 01103

8 Beds

11 Baths

11,628 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,628 sqft

Price per Sqft $170

MLS Listing ID 73578799

Bedrooms 8

Full Baths 11

Year Built 1900

Annual Tax Amount $21,013

Tax Year 2026

Lot Size 5,227 Sqft

Acres 0.12

Property Sub-Type 5-9 Family

Property Description

Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield's downtown Business Improvement District. The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic brick building has undergone significant renovation and offers an attractive combination of residential and commercial income. The building is fully sprinklered, with separate utilities, beautifully maintained common areas, high ceilings, oversized windows and excellent Chestnut Street visibility. The location continues to strengthen. The Commonwealth has selected nearby 125 Liberty Street for the new Roderick L. Ireland Regional Justice Center, a major long-term investment in this section of downtown Springfield. The courthouse site is only several blocks from the property and is visible from the building, creating a compelling opportunity for an investor to own income-producing real estate in the path of significant public investment. The property is also convenient to Union Station, downtown employers, restaurants, entertainment and major regional transportation routes. With a diversified rent roll consisting of eight residential units and three established commercial tenants, 181–187 Chestnut offers investors an opportunity to acquire a stabilized mixed-use asset with strong current income and a location positioned to benefit from continued downtown investment.11 Units | 3 Commercial + 8 Residential | $183,000 potential Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.

Location

State MA

County Hampden

Zoning B3

Direction Chestnut St between Worthington St & Taylor St In the Downtown Springfield near New Court House.

Rooms

Basement Full

Interior

Flooring Tile, Hardwood

Exterior

Community Features Public Transportation, Shopping, Medical Facility, Highway Access, House of Worship, Private School, T-Station, University

Roof Type Rubber

Total Parking Spaces 6

Garage No

Building

Lot Description Corner Lot

Story 3

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by Berkshire Hathaway HomeServices Realty Professionals

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+1(617) 637-8555

esnrealtor@gmail.com

10 Post Office Sq, Boston, MA 02109, USA

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