201 Westfield St West Springfield, MA 01089-2587
- Office buildings
- 5,240 SF
- 0.54 lot acres
Current Use by Public Records
- Newman Sewing Machine & Supply / Sewing Machine Store / Sewing Machine Repair Service
- Metamorphosis Massage / Massage Therapist
- Remington Real Estate Solutions LLC / Real Estate Consultant
- Western Mass Hypnosis Center / Hypnotherapy Service
- Mantis Innovation / Building Consultant / Energy Equipment And Solutions
Property Details for 201 Westfield St
- Year built
- 1975
- Construction
- FRAME
- Lot size
- 0.54 lot acres
- Property size
- 5,240 SF
- Property type
- Office buildings
- APN
- WSPR M:00394 B:06700 L:00042
- APU
- WSPRM00394B06700L00042
Description
This exceptional multi-tenant retail property, located at 201 Westfield Street in West Springfield, Massachusetts, offers 5,240 square feet of versatile space on a half-acre lot. Built in 1975 and renovated in 2005, the two-story building boasts a unique blend of retail and warehouse space, ideal for a variety of uses. The rear of the building features a clear-span layout with high ceilings and large windows (formerly overhead doors), providing ample natural light. This area is perfect for warehouse or light industrial operations. The front of the building offers two floors of office space, suitable for administrative functions or an owner-occupier seeking a combined retail/office setup. Currently operating at 100% occupancy with three units, this property presents a strong investment opportunity. The building is zoned BA and is conveniently located within walking distance of downtown West Springfield and a short drive to downtown Springfield. The asking price is $865,000, translating to $165.08 per square foot. This property presents a rare opportunity to acquire a well-maintained, multi-use building in a desirable location. The property's flexible layout and prime location make it an attractive option for a variety of businesses. The existing tenancy provides immediate income potential, while the versatile space allows for future expansion or adaptation to changing market demands. This is a unique opportunity to own a substantial commercial property in a thriving area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $250,000
- 6.5%
- $250,000
- 7%
- $290,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $255,000
- Geo Method
- $310,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $270,000
- Retail
- $255,000
- Mixed-Use
- $270,000
- Hospitality
- $285,000
- Educational
- $300,000
- Residential Income
- $305,000
- Energy
- $330,000
- Income-Based Land
- $245,000
- Food Service
- $250,000
Location Insight
- Map
- Local Demand
- City
- West Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6263
- Latitude
- 42.1056
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA