389 Main St, Holyoke, MA 01040

Building Details

Year Built 1920 More

Buildings 1 More

Stories 1 More

Units 1 More

Tenancy Single More

Listing Agency: SR Commercial Realty

Listed By: Jeremy Casey · License MA #9585695 Show Phone

Source: Crexi

Added: Nov 1, 2023 Changed: Aug 11 Last Checked: Aug 25 at 3:56AM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 389 Main Street in Holyoke, this property presents an opportunity to own and operate a restaurant. The 988 square-foot property is positioned in close proximity to a bus station, offering accessibility for customers and employees. The surrounding area features a mix of residential and commercial properties. The location offers the potential to establish a lasting presence on Main Street.

Key Highlights

• Opportunity to own and operate a legacy restaurant.
• Historic location on Main Street.
• Potential to create a lasting legacy.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,778

Cap Rate

8.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$255,560 $255.6K

Cap Rate 7%

$182,543 $182.5K

Cap Rate 9%

$141,978 $142.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 988 SF

Gross rent

$17.8K $18.00/SF

− Vacancy

−$747 −$0.76/SF

EGI

$17.0K $17.24/SF

− OpEx

−$4.3K −$4.31/SF

NOI

$12.8K $12.93/SF

Area

Hampden County, MA

Vacancy

4.20%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$255,560

Cap Rate 7%

$182,543

Cap Rate 9%

$141,978

Alternative Uses

Best Use

Specialty Retail

$182.5K

$159.7K – $213.0K (±1% cap)

NOI $12,778 @ 7.0% cap · market cap 8.58%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$608.9K

$532.8K – $710.4K (±1% cap)

NOI $42,625 @ 7.0% cap · market cap 28.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

La Pescaderia Restaurant Restaurant

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Bakery Kitchen & Bath Showroom Carpet & Flooring Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,463

Businesses Nearby

75k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 53% Shops & Services 24% Groceries 20% Electronics 3%

McDonald's Dining

21,799 visits/mo 0.5 miles

Dunkin' Donuts Dining

17,632 visits/mo 0.1 miles

Key Food Groceries

15,347 visits/mo 0.2 miles

Family Dollar Shops & Services

7,515 visits/mo 0.3 miles

Shell Shops & Services

6,071 visits/mo 0.4 miles

Demographics for 01040, MA

38,238

Population

17,057

Households

2.2

Avg Household Size

39

Median Age

24%

College-Educated

79%

High-School Grad

21.2 sq mi

ZIP Area

1,804

Density / Sq Mi

$51,892

Median Household Income

$41,801

Median Earnings

$1,016

Median Rent

$255,300

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Hampden County, MA

$108 Jul

$152 Aug

$213 Sep

$184 Oct

Properties on Market for Conventional restaurants in Hampden County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Legacy restaurant space for sale on Holyoke's Main Street.

Where is this conventional restaurant located?

The property is located at 389 Main St Holyoke, MA.

What is the asking price?

The asking price for this property is $149,000.

What are key features of this property?

This property features: Opportunity to own and operate a legacy restaurant.; Historic location on Main Street.; Potential to create a lasting legacy.