Property profile

420 Union St Westfield, MA 01085

FOR LEASE
Retail properties & Spaces
Property ID
US38-1233671
9,804 SF 1.39 ac lot Built 1974
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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420 Union St, Westfield, MA 01085 For Lease
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420 Union St, Westfield, MA 01085
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Property summary

AI-generated overview

This exceptional 2-acre commercial pad site, located at 420 Union Street in Westfield, Massachusetts (APN 8942, Hampden County, zip code 01085), presents a unique investment opportunity. The property boasts a highly visible location just off Route 20, enjoying exposure to over 40,000 vehicles daily. Zoned for business use, this single-tenancy site offers flexibility for various commercial ventures. The existing building comprises 9,804 square feet, with 2,500 square feet currently vacant. Development plans have already been approved for a building with a drive-thru up to 2,500 square feet, or a 5,000 square foot building without a drive-thru. The property is ideally suited for retail, office, or medical office uses. Ample free parking is available, ensuring convenient access for customers and employees. The owner is open to considering a ground lease or a build-to-suit arrangement for a qualified tenant. This prime location and flexible development options make this pad site an attractive proposition for businesses seeking a high-visibility presence in a thriving Westfield market. The cross street is Springfield Street.

Property profile

Verified
Property type Retail properties & Spaces
Use group DEPARTMENT STORE
Year built 1974
Construction FRAME
Total area 9,804 SF
Lot 1.39 ac (60,713 SF)
APN WFLD M:112 L:7
UPID US38-1233671

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

420 Union St Westfield, MA 01085
Westfield metro Census 812500 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.09M
Blend (final) Blend
$1.21M

Owner & transaction history

since 2020
2 recorded transactions
2020
Price N/A
1990
Price N/A

Zoning & alternative use

Top alternative use upside
Restaurant $1.3M +31.9%
Auto repair, garage $1.2M +23.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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