66 Broad St Westfield, MA 01085-2927

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.