Catylist ID:
#30587184
| Catylist Listing ID: | 30587184 |
| Property Subtypes: | Free-Standing, Industrial-Business Park, Manufacturing, Mixed Use, Light Industrial, Warehouse/Distribution |
| Building Size (RSF): | 68,326 SF |
| Gross Building Area: | 69,726 SF |
| Gross Land Area: | 4 Acres |
| Sale Price: | $3,530,000 |
| Unit Price: | $51.66 PSF |
| Ceiling: | 16 ft. / 14 ft. Clear |
| Property Use Type: | Investment |
| Usable Size (USF): | 69,726 SF |
| Sale Terms: | Cash to Seller, Owner Financing |
| Cap Rate: | 7.25% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 1/13/2021 |
Overview / Comments
|
This property is situated just outside of the town center, adjacent to the Towns municipal property for public works and equipment. The property is currently 100 % leased with a good mix of 13 tenants. The property is priced at an 7.25% Cap rate and an asking price of $3,530,000 There are consistent renewals from our existing tenants with little turnover and good annual growth in rents. Current owners have done extensive renovations over the past 9 years. |
Attachments & Media
Additional Details
| Nearest MSA: | Springfield |
| County: | Hampden |
| Taxing Authority: | City of Westfield |
| Tax ID/APN: | 19_16 |
| Zoning: | INDUSTRIAL A |
| Property Located Between: | close proximity to the Big Y shopping plaza |
| Tenancy: | Multiple Tenants |
| Number of Stories: | 1 |
| Property Condition: | Good |
| Year Built: | 1948 |
| Roof Type: | Flat |
| Construction/Siding: | Block |
| Parking Type: | Surface |
| Eave Height: | 16 |
| Sprinklers: | Wet, Dry |
| Heat Type: | Natural Gas |
| Heat Source: | Ceiling Units, Other |
| Air Conditioning: | Other |
| Lighting: | LED, Fluorescent |
| Internet Access: | Cable |
| Zoning Description: | Partial/minimal flood zone; elevation certificate available to help with the lower premium rates; |
| In Flood Plain?: | Yes |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 13,266 | 39,693 | 68,554 |
| Median Age: | 39.93 | 38.9 | 41.49 |
| Households: | 5,571 | 14,697 | 26,099 |
Contact
Daniel A RosowReal Estate Advisory Group LLCCTCList Member |
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