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    590-628 Center St Chicopee, MA 01013

    Sponsored
    For Sale
    $2,250,000

    Multi-tenant industrial building, high cap rate.

    Property size:
    55,086 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a multi-tenant flex industrial property located at 590-628 Center Street, Chicopee, MA 01013. The property encompasses 55,086 square feet on a 1.71-acre lot and boasts a strong 8.04% capitalization rate, generating a net operating income (NOI) of $180,931. The asking price is $2,250,000, translating to $40.85 per square foot and $562,500 per unit. The building, constructed in 1945, currently houses four tenants under net-net leases, providing a stable income stream. Tenants include HCRC, GroHydro, Kin's Auto Glass, and Springfield Crankshaft. The property features two loading docks and benefits from a separate 0.5524-acre parking lot owned by the sellers, providing ample off-street parking for tenants and visitors. Further enhancing the property's value is a billboard leased to Lamar, offering significant visibility and potential advertising revenue. This well-located Chicopee property offers investors a compelling opportunity to acquire a stable, multi-tenant industrial asset with a proven track record of generating strong returns. The diverse tenant mix and long-term leases contribute to the property's overall stability and attractiveness. This is an ideal investment for those seeking a secure and profitable addition to their portfolio.

    Property Features for 590-628 Center St

    General Information

    Property type
    Flex space
    Square Feet
    55,086 SF
    Lot Size
    74,488 SF

    Building Details

    Year Built
    1945
    Units
    4

    HighLights

    • 55,086 SF multi‑tenant flex industrial building on a 1.71‑acre lot in Chicopee, MA.
    • Strong 8.04% capitalization rate with $180,931 NOI.
    • Asking price: $2,250,000 ($40.85/SF, $562,500/unit).
    • Four tenants under net‑net leases (HCRC, GroHydro, Kin's Auto Glass, Springfield Crankshaft).
    • Two loading docks and separate 0.55‑acre parking lot; billboard leased to Lamar.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicopee
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.6133473
    Latitude
    42.1338698

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    FAQs

    What type of property is this?
    Flex space - Multi-tenant industrial building, high cap rate.
    Where is this flex space located?
    The property is located at 590-628 Center St Chicopee, MA.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: 55,086 SF multi-tenant flex industrial building on a 1.71-acre lot in Chicopee, MA.; Strong 8.04% capitalization rate with $180,931 NOI.; Asking price: $2,250,000 ($40.85/SF, $562,500/unit).
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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
    590-628 Center St Chicopee, MA 01013
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