Current Use by Public Records
- Retail properties & Spaces
Property Details for 12-44 Holyoke St
- Year built
- 2022
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a newly constructed (2022), Class A, multi-tenant retail center totaling 9,010 square feet, situated on a 1.96-acre lot in Holyoke, Massachusetts. The property boasts four national tenants: Starbucks, Popeyes, Sleep Number, and Milan Laser, under a diverse mix of lease structures, including a 15-year absolute NNN ground lease with Popeyes, extending to January 30, 2037. The property features two buildings and benefits from a strong 7.25% cap rate, based on a Net Operating Income (NOI) of $493,010. The asking price is $6,800,000, translating to a price per square foot of $754.72. The property's strategic location offers convenient access to Interstate 91, drawing from a substantial consumer base of nearly 165,000 people within a 5-mile radius. The property also includes 12 Tesla Supercharger spaces under a separate 10-year lease with annual rent increases. This offering presents a compelling investment opportunity with long-term leases, strong tenant credit (franchisee and corporate guarantees), and significant upside potential. The property is offered free and clear of existing debt and is suitable for a 1031 exchange. Detailed rent roll information is available upon request. Lease commencement was January 31, 2022, with a remaining lease term of 12 years.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Holyoke
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6388
- Latitude
- 42.1726
