Restaurant Building with Commercial
New
For Sale
Contact for pricing
29 School St, Westfield, MA 01085
Multi-level facility with event areas, cold storage, and restaurant infrastructure in downtown Westfield.
Property Size18,460 SF
Lot Size0.35 Acres
Price / SF$59.59
Days on Market5
Property Features for 29 School St
General Information
Standard status
Active
Size
18,460 SF
Lot size
0.35 Acres
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Amenities
commercial kitchen infrastructure
walk-in cooler and freezer space
multiple event and gathering areas
Building Details
Buildings
1
Listing Agency:
Region Commercial
(413) 530-3215
Listed By:
Ben Bolotin · License #9582125
(413) 530-3215
Source:
Moodyscre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 4:31AM
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 Region Commercial
Investment Insights
Based on property information with market context.
This multi-level restaurant property contains approximately 18,460 square feet on 0.35 acres. The building includes commercial kitchen infrastructure, a walk-in cooler, freezer space, and several areas configured for events and gatherings. These improvements support restaurant, banquet, and entertainment-related operations.
The property is located in downtown Westfield near local businesses, municipal services, restaurants, neighborhood amenities, and ample shared parking lots. Access to Routes 20 and 202, along with Interstate 90 via the Massachusetts Turnpike, connects the site with the Pioneer Valley and greater Western Massachusetts.
The property is located in downtown Westfield near local businesses, municipal services, restaurants, neighborhood amenities, and ample shared parking lots. Access to Routes 20 and 202, along with Interstate 90 via the Massachusetts Turnpike, connects the site with the Pioneer Valley and greater Western Massachusetts.
Key Highlights
- Approximately 18,460‑square‑foot multi‑level commercial building
- 0.35‑acre property in downtown Westfield
- Commercial kitchen infrastructure with walk‑in cooler and freezer space
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
$98,590
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
8.96%
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%
$1,971,800
$2.0M
Cap Rate 7%
$1,408,429
$1.4M
Cap Rate 9%
$1,095,444
$1.1M
Market Conditions
NOI Build-Up for 18,460 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
$150.6K $8.16/SF
− Vacancy
−$9.8K −$0.53/SF
EGI
$140.8K $7.63/SF
− OpEx
−$42.3K −$2.29/SF
NOI
$98.6K $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%
$1,971,800
Cap Rate 7%
$1,408,429
Cap Rate 9%
$1,095,444
Alternative Uses
Best Use
Specialty Retail
$3.41M
$2.98M – $3.98M
NOI $238,743 @ 7.0% cap · market cap 21.70%
Second Best
Industrial
$1.41M
$1.23M – $1.64M
NOI $98,590 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$11.38M
$9.96M – $13.27M
NOI $796,409 @ 7.0% cap · market cap 72.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
123k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 30%
Groceries 22%
Home Improvements & Furnishings 5%
Stop & Shop
Groceries
26,713 visits/mo
0.3 miles
Dunkin' Donuts
Dining
16,478 visits/mo
0.4 miles
Burger King
Dining
15,876 visits/mo
0.3 miles
Mobil
Shops & Services
10,541 visits/mo
0.3 miles
Cumberland Farms
Shops & Services
8,480 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-level facility with event areas, cold storage, and restaurant infrastructure in downtown Westfield.
Where is this conventional restaurant located?
The property is located at 29 School St Westfield, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 18,460‑square‑foot multi‑level commercial building; 0.35‑acre property in downtown Westfield; Commercial kitchen infrastructure with walk‑in cooler and freezer space
