Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    698 Westfield St West Springfield, MA 01089-3891

    • Showrooms
    • 2,463 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1617491
    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

    • West of the River Chamber of Commerce / Business Service Center / Advocacy Group
    • Kallock Michael / Law Firm
    • Harty Michael R / Law Firm
    • Whitehouse Insurance / Insurance Agency
    • Ms. Laurie Chabot / Counselor / Practitioner Service Location

    Property Details for 698 Westfield St

    Year built
    1971
    Construction
    FRAME
    Lot size
    0.30 lot acres
    Property size
    2,463 SF
    Property type
    Showrooms
    APN
    WSPR M:00394 B:08550 L:00056
    APU
    WSPRM00394B08550L00056

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6352
    Latitude
    42.104
    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
    $12,021
    $137,900
    $265,500
    $403,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $610,000
      6,611 SF

      2107 Riverdale St

      SHOW ROOM, WAREHOUSE • 6,611 SF
      2107 Riverdale St, West Springfield, MA 01089-1025
      View Details
    • Value Estimation
      $2,980,000
      135,514 SF

      26 Sears Way

      SHOW ROOM, WAREHOUSE • 135,514 SF
      26 Sears Way, West Springfield, MA 01089-3609
      View Details
    • Value Estimation
      $1,425,000
      22,800 SF

      1314 Un St Ext

      SHOW ROOM, WAREHOUSE • 22,800 SF
      1314 Un St Ext, West Springfield, MA 01089-4025
      View Details
    • Value Estimation
      $2,065,000
      29,672 SF

      164 Western Ave

      SHOW ROOM, WAREHOUSE • 29,672 SF
      164 Western Ave, West Springfield, MA 01089-3456
      View Details
    • Value Estimation by Request
      4,980 SF

      41 Chapin St

      SHOW ROOM, WAREHOUSE • 4,980 SF
      41 Chapin St, West Springfield, MA 01089-3931
      View Details
    • Value Estimation
      $1,080,000
      15,699 SF

      17 Town Way

      SHOW ROOM, WAREHOUSE • 15,699 SF
      17 Town Way, West Springfield, MA 01089-2201
      View Details

    Similar Nearby for Sale

    • $2,450,000
      23,554 SF

      West Springfield Mixed-Use Complex

      Prime location, KeyBank leaseback, high potential.
      225 Park Ave, West Springfield, MA 01089
      View Details
    • $330,000
      1,064 SF

      Retail or Office Building For Sale

      Flexible building on a large lot, suitable for various uses.
      148 River St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      17,424 SF

      West Springfield Executive Office Building

      17,424 SF office building with 105 parking spaces.
      150 Capital Dr, West Springfield, MA 01089
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,202 SF

      Retail Space Near Route 5

      Retail spaces with convenient access to major routes and downtown.
      219 Memorial Ave, W Springfield, MA 01089
      View Details
    • Contact for pricing
      2,056 SF

      Renovated Retail Space in West Springfield

      Newly renovated 2,056 SF retail space for lease.
      334 Park St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in West Springfield

      Retail space available for lease in West Springfield, MA.
      1654 Riverdale St, West Springfield, MA 01089
      View Details
    • $900 /Mo
      620 SF

      West Springfield Mixed-Use Commercial Space

      Adaptable 620 sq ft mixed-use unit in high-traffic area.
      8-16 Chestnut St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      2,807 SF

      Prime Retail Space on Riverdale

      2,807 SF retail space on West Springfield's 'Golden Mile'.
      1107 Riverdale St, West Springfield, MA 01089
      View Details
    • Contact for pricing
      12,113 SF

      Retail Space on Route 5

      Highly visible retail space in a busy retail corridor.
      935 Riverdale St, West Springfield, MA 01089
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    698 Westfield St
    West Springfield, MA 01089-3891
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!