Land with Workshop and
For Sale
$375,000
Lot 2 Squawfield Road, Westfield, MA 01085
8.04-acre property includes a four-bay garage, gas-heated workshop, small office, and open pole barn with yard for equipment storage.
Property Size3,648 SF
Lot Size8.04 Acres
Price / SF$102.80
Days on Market130
Property Features for Lot 2 Squawfield Road
General Information
Standard status
Active
Size
3,648 SF
Lot size
8.04 Acres
Property subtype
Commercial
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1945
Listing Agency:
Park Square Realty, Ted Cassell of Park Square Realty
Listed By:
Debra Scanlon
(413) 297-5777
Source:
Parksquarerealty
Added: Apr 30
Changed: Sep 4
Last Checked: Sep 5 at 9:18AM
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, Ted Cassell of Park Square Realty
Investment Insights
Based on property information with market context.
The offering is an 8.04-acre land parcel improved with a spacious four-bay garage, including a newer compressor, and a large workshop equipped with gas heat. There is also a small office with a half bath and electric heat. An open five-bay pole barn provides additional space for equipment storage, and the property includes a large yard area suitable for parking vehicles and equipment. The garage further includes additional storage space on a second floor, which is described as open space and available for finishing after some TLC.
The property abuts the Little River and is located close to the center of town. Public remarks indicate it has been used by a construction company as a yard and for storage of vehicles and equipment, along with an office.
For buyers, City approval will be required for the intended use, which will need to be similar to the prior use because the current use is described as non-conforming.
The property abuts the Little River and is located close to the center of town. Public remarks indicate it has been used by a construction company as a yard and for storage of vehicles and equipment, along with an office.
For buyers, City approval will be required for the intended use, which will need to be similar to the prior use because the current use is described as non-conforming.
Key Highlights
- 8.04‑acre property abuts the Little River and is close to the center of town.
- 4‑bay garage with newer compressor plus additional 2nd‑floor storage/unfinished open space.
- Large workshop with gas heat, along with a small office and half bath with electric heat.
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
$23,658
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
6.31%
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%
$473,160
$473.2K
Cap Rate 7%
$337,971
$338.0K
Cap Rate 9%
$262,867
$262.9K
Market Conditions
NOI Build-Up for 3,648 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
$29.8K $8.16/SF
− Vacancy
−$1.9K −$0.53/SF
EGI
$27.8K $7.63/SF
− OpEx
−$4.2K −$1.14/SF
NOI
$23.7K $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 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%
$473,160
Cap Rate 7%
$337,971
Cap Rate 9%
$262,867
Alternative Uses
Best Use
Warehouse
$338.0K
$295.7K – $394.3K
NOI $23,658 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,383 @ 7.0% cap · market cap 41.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Empire Movers & Storage LLC — 22 Cherry St, Westfield, MA 01085
- Cherry Street Storage LLP — 22 Cherry St, Westfield, MA 01085
Frequently Asked Questions
What type of property is this?
Warehouse - 8.04-acre property includes a four-bay garage, gas-heated workshop, small office, and open pole barn with yard for equipment storage.
Where is this warehouse located?
The property is located at Lot 2 Squawfield Road Westfield, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 8.04‑acre property abuts the Little River and is close to the center of town.; 4‑bay garage with newer compressor plus additional 2nd‑floor storage/unfinished open space.; Large workshop with gas heat, along with a small office and half bath with electric heat.
