201 Westfield StWest Springfield, MA 01089

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 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.

• 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 Income

  $991,613

  Hospitality / Lodging

  $908,312

  Institutional / Educational

  $755,705

  Healthcare / Senior Housing

  $781,695

  Retail / Commercial

  $1,175,541

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

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