Retail Property Near Interstate
915 Main St, Holyoke, MA 01040
Two-unit retail property with established convenience store and restaurant.
Type:Retail
Property size:
2,520 SFPrice / SF:
$297/SF- Added:
- Oct 17, 2024
- Days on Market:
- 628
- Last Refresh:
- Jul 4 at 6:17 am
Property Features for 915 Main St
General Information
- Standard status
- Active
- Size
- 2,520 SF
- Property subtype
- Retail
Listing office NAI Plotkin
Listing date Oct 17, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of NAI Plotkin
HighLights
- High‑traffic location near Interstate 91 and major routes (Route 5, I‑391) offering excellent accessibility and visibility.
- Turnkey convenience store with established beer, wine, and lottery sales, including all existing equipment (coolers, freezers, racks).
- Existing convenience store tenant with a proven track record of success.
- Second retail unit leased to a fried chicken restaurant with a recently signed five‑year lease at $1,200 per month.
- Free‑standing commercial building with two retail units totaling approximately 2,520 square feet.
- Convenience store has a beer and wine license and a limited seasonal liquor license.
Overview
This free-standing commercial property features two retail units, totaling approximately 2,520 square feet. One unit is occupied by a well-established convenience store with a beer and wine license, a limited seasonal liquor license, and high lottery sales. The existing equipment, including coolers, freezers, and display racks, will remain with the convenience store, presenting a turnkey opportunity. The second unit is leased to a fried chicken restaurant with a five-year lease at $1,200 per month. The property benefits from a prime location near Interstate 91, offering accessibility and exposure. Situated on a high-traffic artery, the property is near Marcotte Ford and approximately 0.5 miles from either Riverdale Street (Route 5) or the Interstate 391 exit ramp, providing great visibility.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.5k | $24.00 |
| − Vacancy | −$1.3k | −$0.53 |
| EGI | $59.1k | $23.47 |
| − OpEx | −$17.7k | −$7.04 |
| NOI | $41.4k | $16.43 |
2,520 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$591.5K
$517.6K – $690.1K
NOI $41,405 @ 7.0% cap · market cap 5.52%
Second Best
Specialty Retail
$465.6K
$407.4K – $543.2K
NOI $32,591 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,719 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
ATM
Atm
Location Insight
- Map
- Local Demand
- City
- Holyoke
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6258725
- Latitude
- 42.1858643
Nearby Similar for Sale
FAQs
What type of property is this?
Grocery and convenience store - Two-unit retail property with established convenience store and restaurant.
Where is this grocery and convenience store located?
The property is located at 915 Main St Holyoke, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: **High‑traffic location** near Interstate 91 and major routes (Route 5, I‑391) offering excellent accessibility and visibility.; **Turnkey convenience store** with established beer, wine, and lottery sales, including all existing equipment (coolers, freezers, racks).; Existing convenience store tenant with a proven track record of success.
