Red Bridge Bait and
For Sale
$280,000
Pending
1131 East St, Ludlow, MA 01056
Operating bait and tackle shop with expansion potential.
Property Size1,230 SF
Lot Size1.08 Acres
Days on Market152
Property Features for 1131 East St
General Information
Standard status
Pending
Size
1,230 SF
Lot size
1.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,103
Building Details
Building Size
1,230 SF
Year Built
1950
Listing Agency:
Perella Real Estate Co. Inc
(413) 531-5030
Listed By:
Carl Perella · License #9018160
(413) 531-5030
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Perella Real Estate Co. Inc
Investment Insights
Based on property information with market context.
A fully operational bait and tackle shop, known as Red Bridge Bait and Tackle, is available for sale due to the owner's retirement. The property spans one acre and is level and dry. There is potential for expansion into a full convenience store, including the addition of lottery and full liquor sales, if permitted. The lot is flat. All trade fixtures and inventory are included in the sale.
Key Highlights
- Fully operational Red Bridge Bait and Tackle shop included.
- One acre level property, suitable for expansion.
- Opportunity to add a convenience store.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,209
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,180
$404.2K
Cap Rate 7%
$288,700
$288.7K
Cap Rate 9%
$224,544
$224.5K
Market Conditions
NOI Build-Up for 1,230 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.5K $24.00/SF
− Vacancy
−$649 −$0.53/SF
EGI
$28.9K $23.47/SF
− OpEx
−$8.7K −$7.04/SF
NOI
$20.2K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,180
Cap Rate 7%
$288,700
Cap Rate 9%
$224,544
Alternative Uses
Best Use
Retail
$288.7K
$252.6K – $336.8K
NOI $20,209 @ 7.0% cap · market cap 7.22%
Second Best
Specialty Retail
$227.3K
$198.9K – $265.1K
NOI $15,908 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$758.1K
$663.3K – $884.4K
NOI $53,065 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01056, MA
21,002
Population
8,984
Households
2.3
Avg Household Size
46
Median Age
25%
College-Educated
89%
High-School Grad
27.2 sq mi
ZIP Area
772
Density / Sq Mi
$78,981
Median Household Income
$47,449
Median Earnings
$1,250
Median Rent
$303,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating bait and tackle shop with expansion potential.
Where is this grocery and convenience store located?
The property is located at 1131 East St Ludlow, MA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Fully operational Red Bridge Bait and Tackle shop included.; One acre level property, suitable for expansion.; Opportunity to add a convenience store.
