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    247 Hancock St Springfield, MA 01109

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    For Sale
    $2,103,197

    NNN leased Family Dollar with rental increases and zero responsibilities.

    Property size:
    8,320 SF
    Lot size:
    0.81 Acres

    Property Features for 247 Hancock St

    General Information

    Size
    8,320 SF
    Lot size
    0.81 Acres

    Source: Matthews Real Estate Investment Services | Phoenix Agent Wyatt Wagner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Family Dollar NNN Investment Opportunity

    This property features a 2018 build-to-suit construction for Family Dollar. The lease is an absolute NNN lease, meaning there are zero landlord responsibilities. The lease is corporately guaranteed by Family Dollar Corporation. A notable feature is a 10% rental increase scheduled for 2028, and in all six option periods. The surrounding area includes national tenants such as AutoZone, CVS, McDonalds, Chipotle, and USPS. The property is located adjacent to Springfield College, which has approximately 1924 students. The population within a five-mile radius exceeds 240,475 residents. The property size is 8320 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Family Dollar Toy Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5671676
    Latitude
    42.1025168

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    FAQs

    What type of property is this?
    Storefront property - NNN leased Family Dollar with rental increases and zero responsibilities.
    Where is this storefront property located?
    The property is located at 247 Hancock St Springfield, MA.
    What is the asking price?
    The asking price for this property is $2,103,197.
    What are key features of this property?
    This property features: - Corporately guaranteed lease from Family Dollar Corporation; - Absolute NNN lease with zero landlord responsibilities; - RARE 10% rental increase in 2028, and in all six option periods
    (310) 750-7845
    Request Owner's contact information
    247 Hancock St Springfield, MA 01109
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    Springfield, MA 01109
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    247 Hancock St Springfield, MA 01109
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