Flex Space with Warehouse and
New
For Sale
$249,900
40 Kelso Ave., West Springfield, MA 01089
A warehouse-office layout with two half baths and dedicated on-site parking supports a range of business operations.
Property Size1,840 SF
Price / SF$135.82
Days on Market2
Property Features for 40 Kelso Ave.
General Information
Standard status
Active
Size
1,840 SF
Total Parking Spaces
5
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Listing Agency:
Park Square Realty
(413) 789-9830
Listed By:
Ted Cassell · License #9016155
(413) 374-4461
Source:
Lockandkeyre
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 1:52PM
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
Investment Insights
Based on property information with market context.
This 1,840-square-foot flex property combines warehouse and office areas, with two half baths serving the building. Constructed in 1980, the space offers a practical mix of work and administrative areas within one property.
The site is at 40 Kelso Ave. in West Springfield, just off Park Street, with access to I-91, I-291, and Route 57. A private parking lot provides five spaces for employees and visitors.
The site is at 40 Kelso Ave. in West Springfield, just off Park Street, with access to I-91, I-291, and Route 57. A private parking lot provides five spaces for employees and visitors.
Key Highlights
- 1,840 square feet of flex space with warehouse and office areas
- Two half baths
- Private parking lot with five spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,933
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,660
$238.7K
Cap Rate 7%
$170,471
$170.5K
Cap Rate 9%
$132,589
$132.6K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$15.0K $8.16/SF
− Vacancy
−$976 −$0.53/SF
EGI
$14.0K $7.63/SF
− OpEx
−$2.1K −$1.14/SF
NOI
$11.9K $6.49/SF
Area
Hampden County, MA
Vacancy
6.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,660
Cap Rate 7%
$170,471
Cap Rate 9%
$132,589
Alternative Uses
Best Use
Flex RnD
$337.7K
$295.5K – $394.0K
NOI $23,638 @ 7.0% cap · market cap 9.46%
Second Best
Warehouse
$170.5K
$149.2K – $198.9K
NOI $11,933 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$1.13M
$992.3K – $1.32M
NOI $79,382 @ 7.0% cap · market cap 31.77%
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
1,150
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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 Industrial in Northeast region
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Similar Off Market Nearby
- Memo's Restaurant — 1272 Memorial Ave, West Springfield, MA 01089
- Richard's Grinders — Gate 9, 875 Memorial Ave, West Springfield, MA 01089
Frequently Asked Questions
What type of property is this?
Flex space - A warehouse-office layout with two half baths and dedicated on-site parking supports a range of business operations.
Where is this flex space located?
The property is located at 40 Kelso Ave. West Springfield, MA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,840 square feet of flex space with warehouse and office areas; Two half baths; Private parking lot with five spaces
