Flex Space with Office and
For Sale
$2,300,000
79 Mainline Drive, Westfield, MA 01085
19,820 SF flex building combining office and manufacturing space on a 4-acre lot with dedicated parking lots.
Property Size19,820 SF
Lot Size4.00 Acres
Price / SF$116.04
Days on Market809
Property Features for 79 Mainline Drive
General Information
Standard status
Active
Size
19,820 SF
Lot size
4.00 Acres
Property subtype
Commercial
Zoning
BB
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,921,774
Building Details
Building Size
19,820 SF
Year Built
1968
Listing Agency:
Millennium Realty Firm, LLC
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 2, 2024
Changed: Sep 17
Last Checked: Sep 16 at 3:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Millennium Realty Firm, LLC
Investment Insights
Based on property information with market context.
This flex property includes 3,000 SF of office space and 16,820 SF of manufacturing space within a single building, positioned on a 4-acre lot. The site is set up for multi-area operations, with designated parking lots serving the two sections of the property. The building is currently occupied, offering a ready-to-own arrangement for buyers seeking an income-producing asset.
The property is located just off Route 20 and is less than 3 miles from I-90, supporting convenient regional access for employees, suppliers, and customers. Ample on-site parking is available to serve the office and manufacturing components without commingling day-to-day traffic.
With separate office and manufacturing areas, this layout can fit businesses that need administrative space alongside production or light industrial operations. For investors, the combination of flex use and current occupancy provides a straightforward path to ownership, while the dedicated parking configuration helps each portion of the building function efficiently for day-to-day use.
The property is located just off Route 20 and is less than 3 miles from I-90, supporting convenient regional access for employees, suppliers, and customers. Ample on-site parking is available to serve the office and manufacturing components without commingling day-to-day traffic.
With separate office and manufacturing areas, this layout can fit businesses that need administrative space alongside production or light industrial operations. For investors, the combination of flex use and current occupancy provides a straightforward path to ownership, while the dedicated parking configuration helps each portion of the building function efficiently for day-to-day use.
Key Highlights
- 19,820 SF flex building on a 4‑acre lot in Westfield, MA
- Building includes 3,000 SF office space and 16,820 SF manufacturing space
- Designated parking lots serve the two sections of the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,853
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,117,060
$2.1M
Cap Rate 7%
$1,512,186
$1.5M
Cap Rate 9%
$1,176,144
$1.2M
Market Conditions
NOI Build-Up for 19,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$161.7K $8.16/SF
− Vacancy
−$10.5K −$0.53/SF
EGI
$151.2K $7.63/SF
− OpEx
−$45.4K −$2.29/SF
NOI
$105.9K $5.34/SF
Area
Hampden County, MA
Vacancy
6.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,117,060
Cap Rate 7%
$1,512,186
Cap Rate 9%
$1,176,144
Alternative Uses
Best Use
Office B
$8.98M
$7.86M – $10.48M
NOI $628,897 @ 7.0% cap · market cap 27.34%
Second Best
Flex RnD
$3.64M
$3.18M – $4.24M
NOI $254,620 @ 7.0% cap · market cap 11.07%
Theoretical Best
Office A
$12.22M
$10.69M – $14.25M
NOI $855,082 @ 7.0% cap · market cap 37.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - 19,820 SF flex building combining office and manufacturing space on a 4-acre lot with dedicated parking lots.
Where is this flex space located?
The property is located at 79 Mainline Drive Westfield, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 19,820 SF flex building on a 4‑acre lot in Westfield, MA; Building includes 3,000 SF office space and 16,820 SF manufacturing space; Designated parking lots serve the two sections of the building
