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Property profile & analytics
FOR SALE
Office buildings
94 North Elm St, Westfield, MA 01085
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-0490176
For Sale
1 / 32
$3,810,000
94 North Elm St, Westfield, MA 01085
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Property summary
AI-generated overview
This prestigious Class A office building, located at 94 N Elm St in Westfield, MA, offers 97,311 square feet of versatile space ideal for executive or medical offices. Built in 1960 and renovated in 2000, the four-story building features a modern design with 10-foot ceilings. The property sits on a 5.11-acre lot and boasts 300 parking spaces, ensuring convenient access for tenants and their clients. Units range from a minimum of 168 square feet to a maximum contiguous space of 2,800 square feet, with 7,819 square feet currently vacant. The building is zoned Commercial Office Retail Enterprise District (CORE) and offers a variety of amenities, including elevators, 24-hour security, and janitorial services within tenant spaces. The building also features high-speed Wi-Fi and excellent cell phone service due to multiple cell towers on the roof. For tenants seeking fully furnished executive suites, options are available, complete with shared conference and break rooms. Landlords are also offering build-to-suit options to accommodate specific tenant needs. This Hampden County property presents a unique opportunity for businesses seeking a prime location with comprehensive amenities and flexible lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
STEEL FRAME
Total area
97,311 SF
Lot
5.11 ac (222,592 SF)
APN
WFLD M:219 L:1
UPID
US38-0490176
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.07M
Blend (final)
Blend
$3.81M
Owner & transaction history
North Elm LLC · 9 yrs held
North Elm LLC
since 2016
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Westfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.81M
Range $3.43M – $4.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$39 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$134,757
Tax year 2024
Assessed value
$4,293,000
Assessed 2024
Previous assessed
$4,374,600
-1.9% YoY
Effective rate
3.14%
On assessed value
Assessed land
$181,500
Assessed improvement
$4,111,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1990
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
1
Total area
97,311 SF
Lot
5.11 ac (222,592 SF)
APN
WFLD M:219 L:1
UPID
US38-0490176
Jurisdiction
WESTFIELD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1990
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
1
Lot
5.11 ac
Current owner
From public records · entity-resolved
North Elm LLC
Entity
Mailing address
26 HILLCREST CIR, WESTFIELD, MA 01085-1869
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2016
$3,800,000
North Elm LLC
Ronald E Schortmann
Quit Claim Arm's Length For Ne States
$2,800,000 · Westfield Bank
Sep 8, 2015
—
Ronald E Schortmann
—
Loan Modification
related
$16,100,000 · Chicopee Svgs Bk
Aug 28, 2001
—
Ronald Schortmann
—
Deed Of Trust
related
$750,000 · Pioneer Capital Corp
Aug 6, 1997
$350,000
Ronald E Schortmann
International Paper Co
Grant Deed
$450,000 · Springfield Inst For Saving
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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