65 Springfield RdWestfield, MA 01085

Property Details for 65 Springfield Rd

Year built

1996

Construction

STEEL FRAME

Lot size

2.94 AC

Property size (Sq ft)

21,072 SF

Property type

Showrooms

APN

WFLD M:113 L:3

APU

WFLDM113L3

Description

This exceptional two-story, Class B office building, totaling 22,419 square feet, presents a unique investment opportunity in Westfield, Massachusetts. Located at 65 Springfield Road, this property boasts a convenient location on Route 20, providing easy access to major highways I-90 and I-91. The building features three suites, with 3,600 square feet currently available for lease. Individual suites range from a minimum of 1,000 square feet to a maximum contiguous space of 2,600 square feet, catering to a variety of business needs. The property sits on 2.94 acres of land and offers ample on-site parking with a total of 50 spaces. Built in 1996, the well-maintained building includes convenient amenities such as a conference room and an elevator, enhancing its appeal to potential tenants. The property's versatile layout is suitable for various office uses, including medical, traditional, and executive office spaces. Its strategic location and comprehensive amenities make this a highly desirable property for businesses seeking a comfortable and efficient workspace in a thriving community. The property is zoned for office use and is situated in Hampden County, offering easy access to a diverse range of local amenities and services. This is an excellent opportunity to acquire a well-maintained, strategically located office building with significant potential for growth and return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $5,121,232

  6.5%

  $4,727,290

  7%

  $4,389,627

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,938,234

  Geo Method

  $6,938,234

• Alternative Use

  Use

  Valuation

  Residential

  $3,987,646

  Hospitality

  $3,652,663

  Educational

  $3,038,972

  Medical

  $3,143,488

  Retail

  $4,727,290

Location Insight

City

Westfield

County

Hampden

State

Massachusetts

Latitude

42.1115

Longitude

-72.7129

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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