201 Westfield StWest Springfield, MA 01089

  • Office properties
  • 5,240 SF
For Sale
$865,000 View listing

Property Details for 201 Westfield St

Year built
1975
Construction
FRAME
Lot size
0.54 AC
Property size (Sq ft)
5,240 SF
Property type
Office properties
Property subtype
Office buildings
APN
WSPR M:00394 B:06700 L:00042
APU
WSPRM00394B06700L00042

Description

This exceptional multi-tenant retail property, located at 201 Westfield Street in West Springfield, Massachusetts, offers 5,240 square feet of versatile space on a half-acre lot. Built in 1975 and renovated in 2005, the two-story building boasts a unique blend of retail and warehouse space, ideal for a variety of uses. The rear of the building features a clear-span layout with high ceilings and large windows (formerly overhead doors), providing ample natural light. This area is perfect for warehouse or light industrial operations. The front of the building offers two floors of office space, suitable for administrative functions or an owner-occupier seeking a combined retail/office setup. Currently operating at 100% occupancy with three units, this property presents a strong investment opportunity. The building is zoned BA and is conveniently located within walking distance of downtown West Springfield and a short drive to downtown Springfield. The asking price is $865,000, translating to $165.08 per square foot. This property presents a rare opportunity to acquire a well-maintained, multi-use building in a desirable location. The property's flexible layout and prime location make it an attractive option for a variety of businesses. The existing tenancy provides immediate income potential, while the versatile space allows for future expansion or adaptation to changing market demands. This is a unique opportunity to own a substantial commercial property in a thriving area.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $866,328
    6.5%
    $799,688
    7%
    $742,567
  • Comparable approach

    Method
    Valuation
    Relative Method
    $684,658
    Geo Method
    $684,658
  • Alternative Use

    Use
    Valuation
    Residential
    $991,613
    Hospitality
    $908,312
    Educational
    $755,705
    Medical
    $781,695
    Retail
    $1,175,541
201 Westfield St, West Springfield, Massachusetts

Location Insight

City
West Springfield
County
Hampden
State
Massachusetts
Latitude
42.1056
Longitude
-72.6263
CBSA code
44140
CBSA name
SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$9,882
$116,800
$214,800
$331,600
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-
-
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