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    Property profile & analytics

    66 Broad St Westfield, MA 01085-2927

    • Assisted living facilities
    • 27,969 SF
    • 1.52 lot acres
    OFF-MARKET
    Value Estimation
    $620,000
    Last Sale
    Sep 18, 2024
    $1,125,000
    Location Intelligence
    Property ID
    US38-0266438
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Assisted living facilities

    Property Details for 66 Broad St

    Year built
    1977
    Construction
    STEEL FRAME
    Lot size
    1.52 lot acres
    Property size
    27,969 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    WFLD M:12 L:19
    APU
    WFLDM12L19

    Description

    This exceptional multi-tenant industrial property in Westfield, MA, offers a compelling investment opportunity. Encompassing approximately 69,991 square feet across two 1-story buildings on a 4-acre lot, this Class B property boasts 68,541 square feet of net rentable space. Currently 88% occupied by 12 tenants, the property features a strong mix of long-term leases with consistent renewals and significant annual rent increases. Built in 1948 with extensive renovations between 2012 and 2020, including roof and sprinkler system upgrades, loading dock repairs, and the creation of smaller, more attractive tenant spaces, the property offers 6 loading docks and ceiling heights ranging from 14 to 16 feet. The property benefits from a prime location near major retailers like Big Y, Rite Aid, Stop & Shop, and Ace Hardware, as well as numerous restaurants and is adjacent to municipal property. Most utilities are separately metered. The property is zoned Industrial A and is offered at $5,100,000, representing a 7.00% cap rate and a pro-forma NOI of $357,000. The price per unit is $425,000, and the price per square foot is $72.87. This stabilized investment presents a rare opportunity for strong returns.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $700,000

    • CAP approach

      CAP return
      Estimation
      6%
      $540,000
      6.5%
      $515,000
      7%
      $480,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $580,000
      Geo Method
      $600,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $505,000
      Retail
      $540,000
      Mixed-Use
      $585,000
      Hospitality
      $550,000
      Educational
      $510,000
      Residential Income
      $575,000
      Energy
      $535,000
      Income-Based Land
      $525,000
      Food Service
      $545,000

    Location Insight

    • Map
    • Local Demand
    City
    Westfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.747
    Latitude
    42.1166
    CBSA code
    44140
    CBSA name
    SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $119,364
    $157,500
    $3,645,100
    $3,802,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation by Request
      19,257 SF

      37 Feeding Hls Rd

      HOMES (RETIRED, NURSING) • 19,257 SF
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    • Value Estimation by Request
      27.95 Acres

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      90.30 Acres

      Nn Rd

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    • Value Estimation by Request
      0.14 Acres

      110 Airport Rd

      COMMERCIAL (GENERAL) • 0.14 Acres
      110 Airport Rd, Westfield, MA 01085-5300
      View Details

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    66 Broad St
    Westfield, MA 01085-2927
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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
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