701 Kelly Way Holyoke, MA 01040
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Class A Office, 13,069 SF, 6.06% Cap Rate
Property size:
13,069 SFProperty Features for 701 Kelly Way
General Information
- Property type
- Office Properties & Spaces
- Square Feet
- 13,069 SF
- Class
- A
- Lot Size
- 120,008 SF
Building Details
- Year Built
- 2009
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: Jennings Real Estate Listing Agent: Kevin Jennings
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a single-tenant, net-leased Class A executive office building totaling 13,069 square feet, situated on a 2.755-acre lot in Holyoke, Massachusetts' Crossroads Industrial Park. The property, built in 2009, boasts a 100% occupancy rate with Rexel USA, a globally recognized electrical distributor, under a corporate guaranteed lease with a rent increase scheduled for November 2024. The lease structure is a triple-net (NNN) lease, minimizing landlord responsibilities. The building features approximately 9,069 square feet of well-appointed office space, including private offices, cubicles, a large training room, multiple conference rooms, and a break room. An additional 4,000 square feet of high-bay clean warehouse space is accessible via both a loading dock and drive-in door, providing significant flexibility. The strategic location at the intersection of Interstate 91 and the Massachusetts Turnpike offers unparalleled access to New England's major highway system. The asking price is $3,100,000, representing a compelling 6.06% capitalization rate and a price per square foot of $237.20. The property is zoned for industrial park use and consists of a single, one-story building. The substantial net operating income (NOI) stands at $187,998. This presents a strong, stable investment with significant upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Rexel
Building Supply
Location Insight
- Map
- Local Demand
- City
- Holyoke
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6566007
- Latitude
- 42.1654294
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FAQs
What type of property is this?
Office Property / Space - Class A Office, 13,069 SF, 6.06% Cap Rate
Where is this office property / space located?
The property is located at 701 Kelly Way Holyoke, MA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: $3,100,000 asking price for a Class A, 13,069 SF executive office building.; Net lease investment opportunity with a corporate guarantee from Rexel, a major electrical distributor.; 6.06% cap rate with a 100% occupancy rate and $187,998 annual NOI.
