Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    One Acre Commercial Parcel Title is generated by Realmo AI

    Westfield Rd & Homestead Ave Route 202, Holyoke, MA 01040

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    One acre commercial parcel near shops and Holyoke Community College.

    Type:Land
    Lot size:
    1.00 Acre
    Added:
    Aug 3, 2024
    Days on Market:
    671
    Last Refresh:
    May 12 at 9:27 pm

    Property Features for Westfield Rd & Homestead Ave Route 202

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    Land

    We can help!

    Listing Contact
    Jack Reed

    Listing agent Jack Reed License #9551299

    Listing office CBRE - Hartford

    Listing date Aug 3, 2024

    Source Crexi

    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 CBRE - Hartford

    HighLights

    • One acre commercial parcel, a great opportunity.
    • Located on Westfield Rd & Homestead Ave.
    • Close to shops.
    • Close to restaurant businesses.
    • In Holyoke, MA.
    • Close to Holyoke Community College.

    Overview

    This one-acre commercial parcel is located on Westfield Rd & Homestead Ave in Holyoke, MA. The site is situated near amenities such as shops, restaurants, and Holyoke Community College.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Holyoke
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6423
    Latitude
    42.212

    Nearby Similar for Sale

    • $750,000
      2,520 SF

      Retail Property Near Interstate 91

      Two retail units with established tenants near Interstate 91.
      915 Main Street, Holyoke, MA 01040
      View Details
    • $290,000
      2,502 SF

      Holyoke Multifamily Property For Sale

      Two-family property with easy access to amenities and highways.
      225-227 Beech Street, Holyoke, MA 01040
      View Details
    • $1,075,000

      Downtown Holyoke Mixed-Use Redevelopment Opportunity

      Three connected retail/office buildings with redevelopment potential in downtown Holyoke.
      302-322 High St, Holyoke, MA 01040
      View Details
    • $265,000

      Downtown Corner Redevelopment Opportunity

      Prime corner location suitable for redevelopment or reuse.
      630 Dwight Street, Holyoke, MA 01040
      View Details
    • $3,950,000
      68,000 SF

      Renovated Office Building Investment Opportunity

      68,000 SF renovated office building in the Arts and Industry District.
      208 Race Street, Holyoke, MA 01040
      View Details
    • $900,000
      44,700 SF

      Holyoke Industrial Building For Sale

      44,700 SF industrial building ideal for manufacturing with easy access.
      110 Winter Street, Holyoke, MA 01040
      View Details
    • $399,900
      2,744 SF

      Spacious Two-Family Home with Updates

      Two units, updated kitchens, wood floors, and outdoor space.
      51-53 Ridgewood Ave, Holyoke, MA 01040
      View Details
    • $2,290,000

      Two-Building Campus Near Interstate 91

      Two-building campus on 8.19 acres, near Interstate 91.
      1365-1375 Northampton Street, Holyoke, MA 01040
      View Details
    • $1,800,000
      115,000 SF

      Holyoke Industrial Property with Cannabis License

      Industrial property suitable for manufacturing, distribution, storage, or cannabis cultivation.
      60-66 Jackson St, Holyoke, MA 01040
      View Details
    • $325,000

      Victorian Two-Family in Highlands Neighborhood

      Two-family Victorian with potential in a convenient, established neighborhood.
      76 Nonotuck St, Holyoke, MA 01040
      View Details
    • $449,900
      2,000 SF

      Updated Two-Family Home

      Two-unit property with updated interiors, off-street parking, and garage.
      16 Washington Ave, Holyoke, MA 01040
      View Details
    • $149,000
      988 SF

      Iconic Holyoke Restaurant Opportunity

      Historic restaurant location for sale on Main Street.
      389 Main St, Holyoke, MA 01040
      View Details

    FAQs

    What type of property is this?
    Commercial land - One acre commercial parcel near shops and Holyoke Community College.
    Where is this commercial land located?
    The property is located at Westfield Rd & Homestead Ave Route 202 Holyoke, MA.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: One acre commercial parcel, a great opportunity.; Located on Westfield Rd & Homestead Ave.; Close to shops.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jack Reed
    Real Estate License ID: 9551299
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Westfield Rd & Homestead Ave Route 202, Holyoke, MA 01040
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!