590-628 Center St Chicopee, MA 01013
- Industrial properties
- 55,086 SF
- 1.71 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 590-628 Center St
- Year built
- 1945
- Lot size
- 1.71 lot acres
- Property size
- 55,086 SF
- Property type
- Industrial properties
- Property subtype
- Flex space
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicopee
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6133
- Latitude
- 42.1339
