201 Westfield StWest Springfield, MA 01089
- Office properties
- 5,240 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].