Renovated Office
38 Elm Street #4, Westfield, MA 01085
For Sale
Contact for pricing
Three separate work areas and a conference space support a range of office layouts.
Property Size1,100 SF
Price / SF$1.45
Days on Market50
Property Features for 38 Elm Street #4
General Information
Standard status
Size
Additional Details
Floor
Amenities
large windows
natural light
conference area
kitchenette/break room
Building Details
Year Built
Listing Agency:
Park Square Realty
(413) 789-9830
Listed By:
Melissa Lemanski
(413) 262-2462
Source:
Lockandkeyre
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 10 at 7:13AM
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 Park Square Realty
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 renovated second-floor office suite measures 1,100 square feet and includes three partitioned work areas, a conference area, and a kitchenette or break room. Large windows bring natural light into the space, and electricity, heat, and air conditioning are included in the rent. The property was built in 1900.
The suite is at a downtown Westfield corner along Routes 20, 10, and 202, two blocks from the Westfield Courthouse. Downtown shops and restaurants are within walking distance, with public and on-street parking outside the building.
The owner permits co-working use, allowing the suite to be shared. Its configuration includes distinct work areas, meeting space, and a kitchenette.
The suite is at a downtown Westfield corner along Routes 20, 10, and 202, two blocks from the Westfield Courthouse. Downtown shops and restaurants are within walking distance, with public and on-street parking outside the building.
The owner permits co-working use, allowing the suite to be shared. Its configuration includes distinct work areas, meeting space, and a kitchenette.
Key Highlights
- 1,100‑square‑foot office suite on the second floor
- Three partitioned work areas, conference area, and kitchenette or break room
- Electricity, heat, and air conditioning included in the rent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,903
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,060
$698.1K
Cap Rate 7%
$498,614
$498.6K
Cap Rate 9%
$387,811
$387.8K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$59.7K $54.24/SF
− Vacancy
−$13.1K −$11.93/SF
EGI
$46.5K $42.31/SF
− OpEx
−$11.6K −$10.58/SF
NOI
$34.9K $31.73/SF
Area
Hampden County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,060
Cap Rate 7%
$498,614
Cap Rate 9%
$387,811
Alternative Uses
Best Use
Office B
$498.6K
$436.3K – $581.7K
NOI $34,903 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$678.0K
$593.2K – $791.0K
NOI $47,457 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
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
$296,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Westfield, MA
Properties on Market for Office Units in Westfield
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Three separate work areas and a conference space support a range of office layouts.
Where is this office unit located?
The property is located at 38 Elm Street #4 Westfield, MA.
What are key features of this property?
This property features: 1,100‑square‑foot office suite on the second floor; Three partitioned work areas, conference area, and kitchenette or break room; Electricity, heat, and air conditioning included in the rent
