Property profile

85 Elm St 21 West Springfield, MA 01089

FOR LEASE
Banks
Property ID
US38-0550110
11,578 SF 0.2 ac lot Built 1940
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Exceptional investment opportunity: a 11,578 square foot, two-story warehouse located at 85 Elm Street in West Springfield, Massachusetts. This free-standing commercial building sits on a 0.2-acre corner lot in the heart of the downtown area, offering high visibility and excellent foot traffic. The property boasts 25 deeded parking spaces, a significant advantage in this location. Constructed of stone and concrete, the building features a membrane roof and is serviced by public water and sewer. The building's prime location offers easy access to major highways and public transportation, placing it within the central business district and near City Hall, police and fire departments, schools, restaurants, banks, and national brand stores. Currently housing several long-term tenants, including a major credit union with recently remodeled first-floor space, this property presents a strong revenue-generating opportunity. The APN is M:00102 B:05300 L:00041. This income-producing asset is zoned for commercial use and represents a compelling addition to any investment portfolio or a solid foundation for a new one. Detailed financial statements are available upon request.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1940
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 11,578 SF
Lot 0.2 ac (8,712 SF)
APN WSPR M:00102 B:05300 L:00041
UPID US38-0550110

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Credit Union

Location

85 Elm St, Unit 21 West Springfield, MA 01089
West Springfield metro Census 812201 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$410k
CAP Approach CAP
by Request
Comparable Approach Comparable
$891k
Blend (final) Blend
$650k

Owner & transaction history

since 2025
3 recorded transactions
2025
$1.2M
2018
Price N/A
1992
$340,000

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?”
More about this property
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