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    1349 Boston Rd Springfield, MA 01129

    For Sale
    $3,990,000

    High-Yield Retail Investment in Springfield, MA

    Property size:
    9,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a triple-net (NNN) leased retail portfolio in Springfield, Massachusetts, boasting a strong 6.97% cap rate and a substantial net operating income (NOI) of $278,045. The property encompasses a total of 9,000 square feet across two buildings situated on a 2.52-acre lot zoned for Business A use. The portfolio comprises three distinct tenants: M&T Bank, Applebee's, and Verizon Wireless, all under corporate guarantees, ensuring stable and predictable income streams. The property enjoys 100% occupancy. M&T Bank occupies a 3,116 square foot building constructed in 2006 and recently renovated. The 4,884 square foot Applebee's restaurant was built in 2007. A Verizon Wireless cell tower is also located on the property. This prime location on Boston Road in Springfield benefits from high traffic volume, exceeding 23,000 vehicles daily. The property includes three ground leases and was renovated in 2004. The asking price for this lucrative investment is $3,990,000. This represents a compelling opportunity for investors seeking a stable, high-yield, and diversified retail portfolio in a desirable location.

    Property Features for 1349 Boston Rd

    General Information

    Property type
    Restaurants
    Square Feet
    9,000 SF
    Class
    A
    Lot Size
    109,771 SF

    Building Details

    Year Renovated
    2004
    Buildings
    2
    Units
    3

    HighLights

    • Triple‑net (NNN) leased retail portfolio in Springfield, MA with a 6.97% cap rate and $278,045 NOI.
    • 9,000 square foot portfolio on a 2.52‑acre lot, zoned Business A.
    • Three corporate‑guaranteed tenants: M&T Bank, Applebee's, and Verizon Wireless, with 100% occupancy.
    • Prime Boston Road location with over 23,000 vehicles daily.
    • Asking price: $3,990,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Applebee's Grill + Bar Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.4984366
    Latitude
    42.1404727

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    FAQs

    What type of property is this?
    Restaurant - High-Yield Retail Investment in Springfield, MA
    Where is this restaurant located?
    The property is located at 1349 Boston Rd Springfield, MA.
    What is the asking price?
    The asking price for this property is $3,990,000.
    What are key features of this property?
    This property features: Triple-net (NNN) leased retail portfolio in Springfield, MA with a 6.97% cap rate and $278,045 NOI.; 9,000 square foot portfolio on a 2.52-acre lot, zoned Business A.; Three corporate-guaranteed tenants: M&T Bank, Applebee's, and Verizon Wireless, with 100% occupancy.
    Request Owner's contact information
    1349 Boston Rd Springfield, MA 01129
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    Springfield, MA 01129
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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
    1349 Boston Rd Springfield, MA 01129
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