The Birnie Building, located in the Historic Apremont Triangle District between the Springfield downtown core and the former Springfield Arory (now Springfield Technical Community College) is equidistant from the Union Railroad Station redevelopment and the newly completed Federal Court House. Built in 1920 for the cutting edge technology of the day, the automobile, the Birnie Building. With a simply carved limestone faade, the 37,800 total square footage of the Birnie Building consists of 12,100 square ft of ground level retail stores, 12,900 sq. feet of 2nd floor office space and 12,800 sq-ft of first level formerly shop space with high bays surrounding an interior ct. yard.Given its location in a federally designated historic district, the Birnie Building is eligible for historic rehabilitation tax credits, 20% federal and 10% state. The property is also eligible for the Federal New Markets Tax Credits of 39%. MassDevelopment has offered tax-exempt bond financing with the possibility of loan guarantees and limited recourse.The owners are experienced Real Estate Investors who will consider owner financing, Joint Ventures, or equity exchanges for the right properties. There is a...
lso tremendous upside in renovating and renting the vacant space currently in the building. Current rent roll produces about $6,500 per month while being only 50% occupied.This Springfield, MA owner financing home is a commercial property with , beds and baths. To learn more about this owner financing home or other owner financing homes, make sure to click on the tabs above.
This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.