9 Chapel St Westfield, MA 01085-3009
Property Lookup
Property profile & analytics
9 Chapel St Westfield, MA 01085-3009
- Office buildings
- 1,880 SF
- 0.03 lot acres
Property ID
US38-0637222
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.
Location Intelligence
Current Use by Public Records
- Office buildings
Property Details for 9 Chapel St
- Year built
- 1890
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.03 lot acres
- Property size
- 1,880 SF
- Property type
- Office buildings
- APN
- WFLD M:9 L:26
- APU
- WFLDM9L26
Description
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.
Value Estimations
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Westfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.7478
- Latitude
- 42.1232
- 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
$6,112
$26,900
$167,800
$194,700
-
$0.00
$0.00
$0.00
