78 Main StWestfield, MA 01085

Property Details for 78 Main St

Year built

1954

Construction

STEEL FRAME

Lot size

1.43 AC

Property size (Sq ft)

21,292 SF

Property type

Retail properties

APN

WFLD M:10 L:18

APU

WFLDM10L18

Description

This exceptional retail property, located at 78 Main Street in Westfield, Massachusetts, offers 22,180 square feet of space in a single-tenant building. Currently configured as a former pharmacy, the 13,728 square foot space presents a unique opportunity for a variety of retail businesses. The property boasts a highly visible Main Street location within a thriving strip center, enjoying excellent foot traffic and convenient access. Neighboring businesses include Baystate Noble, Pizza Towne, and Sophy’s Nails, creating a synergistic retail environment. The property's strategic location offers proximity to Westfield State University, providing a substantial potential customer base. The building's size and layout offer flexibility for adaptation to suit a range of retail concepts. This is an ideal opportunity for a business seeking high visibility and a strong presence in a well-established commercial area of Westfield, MA. The property is situated in a vibrant commercial corridor, offering significant potential for growth and success. The zip code is 01085. The property's coordinates are latitude 42.1318779 and longitude -72.7570024. This prime retail space is available now.

• CAP approach

  CAP return

  Valuation

  6%

  $4,027,770

  6.5%

  $3,717,940

  7%

  $3,452,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,893,290

  Geo Method

  $2,893,290

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $7,250,340

  Mixed-Use / Specialty

  $3,704,680

  Hospitality / Lodging

  $2,718,010

  Office

  $3,682,670

  Institutional / Educational

  $3,851,380

  Residential Income

  $4,506,110

  Multifamily

  $5,404,390

  Automotive / Energy

  $3,301,180

  Parking / Income-Based Land

  $1,139,200

  Restaurant / Food Service

  $1,926,830

  Healthcare / Senior Housing

  $3,799,080

Location Insight

City

Westfield

County

Hampden

State

Massachusetts

Latitude

42.1207

Longitude

-72.7444

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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