9 Chapel St, Westfield, MA 01085-3009

This exceptional investment opportunity presents a 1,880 square foot, two-story office building located at 9 Chapel Street in Westfield, Massachusetts (01085). The property, built in 1890 and extensively renovated in 2020, boasts a strong 8.77% cap rate and a substantial net operating income (NOI) of $36,372. Currently 100% occupied by a credit-rated tenant, Westfield Bank, under a triple-net (NNN) lease with a remaining term of approximately 3.1 years. The lease, originally commenced January 1st, 2015, and includes a recent 5-year option exercise, extending the lease to January 5th, 2028. Rent increases are tied to the Consumer Price Index (CPI). The building sits on a 4,356 square foot lot and is zoned for Business A use. Recent improvements include a new roof and HVAC system. The tenant, Westfield Bank, a member of the FDIC, operates its IT department within the building and maintains 25 branches across Western Massachusetts and Northern Connecticut, ensuring financial stability and long-term occupancy potential. This property is strategically located within Westfield's Opportunity Zone, offering additional investment incentives. The asking price is $414,900, translating to $220.69 per square foot. This is a rare chance to acquire a stable, high-performing asset with a strong tenant and significant upside potential.