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    Lockhouse Rd Westfield, MA 01085

    Sponsored
    For Sale
    $3,000,000

    Prime Industrial Site, $3M, 250k+ SF Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 21.5-acre industrial land parcel presents a significant development opportunity in Westfield, Massachusetts. Located on Lockhouse Road, this property boasts convenient access to major transportation arteries, including Route 10/202 and proximity to the Massachusetts Turnpike (within 2 miles) and Interstate 91 (6 miles away). The site offers substantial development potential, with an estimated buildable area of approximately 250,000 square feet. Utilities are readily available, including gas and electric service provided by Westfield Gas & Electric, and city water and sewer connections are accessible (sewer at 287 Lockhouse Road). The property's location also presents the possibility of incorporating a nearby trail into future development plans. This expansive site is offered at an attractive asking price of $3,000,000, making it an ideal investment for developers seeking a strategically located and well-serviced industrial land parcel in a thriving market. The property is zoned for industrial use and offers significant potential for a variety of industrial developments. This is a rare opportunity to acquire a large, developable site in a desirable location.

    Property Features for 0 Lockhouse Rd

    General Information

    Property type
    Land
    Lot Size
    936,540 SF

    HighLights

    • 21.5 acres available for development.
    • ±250,000 square feet of potential development.
    • Utilities include Westfield Gas & Electric for gas and electric, and City of Westfield water and sewer (sewer access at 287 Lockhouse Road).
    • Potential for a paved recreational trail.
    • Asking price: $3,000,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Westfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.7416925
    Latitude
    42.1493908

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    FAQs

    What type of property is this?
    Land - Prime Industrial Site, $3M, 250k+ SF Potential
    Where is this land located?
    The property is located at Lockhouse Rd Westfield, MA.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: 21.5 acres available for development.; ±250,000 square feet of potential development.; Utilities include Westfield Gas & Electric for gas and electric, and City of Westfield water and sewer (sewer access at 287 Lockhouse Road).
    Request Owner's contact information
    Lockhouse Rd Westfield, MA 01085
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    Realmo Value Estimation

    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.

    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.

    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
    Lockhouse Rd Westfield, MA 01085
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