590-628 Center St Chicopee, MA 01013
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Multi-tenant industrial building, high cap rate.
Property size:
55,086 SFProperty 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
Listing Agency: Jennings Real Estate Listing Agent: Jonathan Little
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Location Intelligence
Current Use by Public Records
Flex space
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).
