1535 Memorial DrChicopee, MA 01020

Property Details for 1535 Memorial Dr

Year built

1970

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

1,714 SF

Zone code

111

Property type

Turn key restaurants

APN

CHIC M:0653 P:00021

APU

CHICM0653P00021

Description

This exceptional commercial property presents a unique opportunity for a thriving business in Chicopee, MA. Situated on a 0.46-acre corner lot at 1535 Memorial Drive, this fully built-out restaurant building boasts a prime location along Route 33, a major Western Massachusetts commercial artery. The high visibility and high-traffic area ensure maximum exposure to potential customers. The property's convenient location near Memorial Drive's shopping centers further enhances its appeal. The building itself is already equipped as a restaurant, complete with an outdoor patio area, making it ideal for a quick-service restaurant (QSR) needing a drive-through facility. Alternatively, the property's versatility lends itself to a freestanding retail business. This is a turnkey operation, eliminating the need for extensive build-out costs and allowing for a rapid start to operations. The property's significant advantage lies in its dual-parcel composition, offering flexibility in development or expansion plans. This is a rare opportunity to acquire a well-positioned, fully functional commercial property in a thriving market. The asking price is $1,300,000. Don't miss this chance to establish your business in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $416,562

  6.5%

  $384,519

  7%

  $357,053

• Comparable approach

  Method

  Valuation

  Relative Method

  $564,357

  Geo Method

  $564,357

• Alternative Use

  Use

  Valuation

  Residential

  $324,356

  Hospitality

  $297,108

  Educational

  $247,191

  Medical

  $255,692

  Retail

  $384,519

Location Insight

City

Chicopee

County

Hampden

State

Massachusetts

Latitude

42.1995

Longitude

-72.5726

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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