$849,900
About this home
Rare Licensed 12-Room Lodging House + Renovated Tavern/RestaurantUnique opportunity to acquire an established mixed-use income-producing property consisting of a 12-room licensed lodging house and first-floor operating tavern/restaurant.The property currently has approximately $9,700 per month in scheduled base rent, or $116,400 annually, before additional expense reimbursements from the Tavern.A particularly important feature is the property's existing lodging-house license. Ownership considers this license to be an unusually scarce asset in Springfield and believes the licensed use may carry meaningful strategic value in addition to the property's current income stream. Prospective purchasers should independently verify license status, renewal requirements, transferability/change-of-control requirements and any required municipal approvals.The lodging operation also benefits from an established relationship with a local social service organization. The organization regularly places participating clients into available rooms. Caseworkers assist with resident issues, while the organization administers participating residents' funds and handles rent payments on their behalf. Ownership reports that this relationship has historically resulted in very limited vacancy and rapid refill of rooms when they become available.The first-floor Tavern is leased at $1,500 per month base rent, with the tenant also responsible for 50% of real estate taxes and 50% of the property's water expense.Ownership completed a substantial renovation of the restaurant in 2023, investing approximately $300,000 into the space. The interior was substantially renewed, with essentially everything inside new at completion.
Property details
- MLS
- MLS Property Information Network
- MLS #
- 73589901
- Property type
- 5+ Family - Rooming House
- Subdivision
- N/A
- Status
- Active
- Days on market
- 3
- On market date
- October 13, 2026
- Stories
- 2
- Total bathrooms
- 4.5
- Garage spaces
- N/A
- Parking spaces
- 25
- Lot size
- 0.12 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 210
- Student:teacher ratio
- 8.1:1
- District
- Springfield
- Enrollment
- 45
- Student:teacher ratio
- 9.0:1
- District
- Springfield
- Enrollment
- 456
- Student:teacher ratio
- 8.6:1
- District
- Baystate Academy Charter Public School (District)
Walkability
Blended score for Springfield's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Springfield, from live MLS data.
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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated 2 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.