287 Elm StWestfield, MA 01085

Property Details for 287 Elm St

Year built

1960

Construction

FRAME

Lot size

0.65 AC

Property size (Sq ft)

2,181 SF

Property type

Turn key restaurants

APN

WFLD M:230 L:1

APU

WFLDM230L1

Description

This exceptional opportunity presents the acquisition of "The Whip," a well-established bar and restaurant located at 287 N Elm St, Westfield, MA. Established in 2000, this turn-key operation boasts a prime location on Route 202, ensuring phenomenal visibility and easy access to major roadways. The property itself sits on a 0.65-acre lot and includes a comprehensive array of features designed to maximize operational efficiency and customer experience. Recent upgrades include updated bathrooms (2021) and a new roof (2023), demonstrating a commitment to ongoing maintenance and improvement. The interior features a dance floor, DJ booth, and two coin-operated maple pool tables, catering to diverse entertainment needs. Outdoor amenities include an expansive deck equipped with a TV projector and heater, ideal for hosting events and extending the entertainment space. The fully equipped kitchen includes a walk-in food cooler, walk-in freezer, and a walk-in beer cooler. Further enhancing operational capabilities are a state-of-the-art 12-line tap system and an up-to-date sprinkler system. Additional features include an ATM and an iTunes Touch system. This established business, with its loyal customer base, presents a unique investment opportunity with immediate returns and significant potential for future growth. The asking price for this exceptional property and business is $749,900.

• CAP approach

  CAP return

  Valuation

  6%

  $530,059

  6.5%

  $489,285

  7%

  $454,336

• Comparable approach

  Method

  Valuation

  Relative Method

  $718,123

  Geo Method

  $718,123

• Alternative Use

  Use

  Valuation

  Residential

  $412,730

  Hospitality

  $378,059

  Educational

  $314,541

  Medical

  $325,358

  Retail

  $489,285

Location Insight

City

Westfield

County

Hampden

State

Massachusetts

Latitude

42.1371

Longitude

-72.7387

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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