Medical Office
For Sale
Contact for pricing
Pending
29 Broad Street, Westfield, MA 01085
Healthcare real estate portfolio comprising specialized dental condominiums and a standalone building in Western Massachusetts.
Property Size22,669 SF
Days on Market177
Property Features for 29 Broad Street
General Information
Standard status
Pending
Size
22,669 SF
Property subtype
Office
Occupancy
100%
Investment Type
Stabilized
Building Details
Buildings
5
Units
8
Tenancy
Single
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Christopher Mitchel · License #OH SAL.2014000892
(216) 264-2049
Source:
Crexi
Added: Apr 23
Changed: Oct 7
Last Checked: Oct 16 at 7:07AM
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 Marcus & Millichap - Cleveland
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This healthcare portfolio includes multiple dental condominium units and one standalone dental building across the Pioneer Valley region of Western Massachusetts. The properties total 22,669 square feet and were configured for dental operations, with treatment rooms, imaging areas, and installations for specialized equipment. These improvements support established medical functionality within each asset.
The portfolio includes properties in Springfield and Greenfield, serving regional healthcare and commercial centers. The assets are occupied by practices affiliated with Dental Care Alliance and operate under a double-net lease structure, limiting certain landlord responsibilities. The offering is anchored by medical-use real estate with purpose-built layouts and existing dental infrastructure.
The portfolio includes properties in Springfield and Greenfield, serving regional healthcare and commercial centers. The assets are occupied by practices affiliated with Dental Care Alliance and operate under a double-net lease structure, limiting certain landlord responsibilities. The offering is anchored by medical-use real estate with purpose-built layouts and existing dental infrastructure.
Key Highlights
- 22,669‑square‑foot portfolio of dental healthcare real estate
- Multiple dental condominium units plus one standalone dental building
- Purpose‑built treatment rooms, imaging areas, and specialized equipment installations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$307,109
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,142,180
$6.1M
Cap Rate 7%
$4,387,271
$4.4M
Cap Rate 9%
$3,412,322
$3.4M
Market Conditions
NOI Build-Up for 22,669 SF
Gross rent
$571.3K $25.20/SF
− Vacancy
−$59.4K −$2.62/SF
EGI
$511.8K $22.58/SF
− OpEx
−$204.7K −$9.03/SF
NOI
$307.1K $13.55/SF
Area
Hampden County, MA
Vacancy
10.40%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,142,180
Cap Rate 7%
$4,387,271
Cap Rate 9%
$3,412,322
Alternative Uses
Best Use
Office B
$10.28M
$8.99M – $11.99M
NOI $719,296 @ 7.0% cap · market cap 10.87%
Second Best
Healthcare Medical
$4.39M
$3.84M – $5.12M
NOI $307,109 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$13.97M
$12.22M – $16.30M
NOI $977,995 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Under-served
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
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare real estate portfolio comprising specialized dental condominiums and a standalone building in Western Massachusetts.
Where is this medical office space located?
The property is located at 29 Broad Street Westfield, MA.
What is the asking price?
The asking price for this property is $6,615,534.
What are key features of this property?
This property features: 22,669‑square‑foot portfolio of dental healthcare real estate; Multiple dental condominium units plus one standalone dental building; Purpose‑built treatment rooms, imaging areas, and specialized equipment installations
