Property profile

45 Pulaski Blvd Bellingham, MA 02019

OFF-MARKET
Auto shops
Property ID
US38-1823121
6,831 SF 0.72 ac lot Built 2008
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fee-simple ownership of a 7,000-square-foot retail storefront in Bellingham, Massachusetts. The property is currently 100% occupied by Advance Auto Parts, a publicly traded national retailer (NYSE: AAP) with over 6,290 stores and a $3.5 billion market cap. The long-term net lease boasts a remaining term of approximately 6.4 years, with three additional five-year renewal options, providing a stable and predictable income stream. The lease commenced on March 28, 2008, and is set to expire on March 31, 2031. The property features a corporate guarantee from Advance Auto Parts, mitigating tenant risk. The asking price is $2,206,896, representing a compelling cap rate of 7.25% based on a net operating income (NOI) of $160,000. Built in 2008, this single-story building sits on a 0.72-acre lot at 45 Pulaski Blvd, Bellingham, MA 02019. Its prime location offers convenient access to a major thoroughfare leading to downtown Woonsocket, Rhode Island, and benefits from high visibility across from a Stop & Shop supermarket and other national retailers. The property's strong demographics support Advance Auto Parts' customer base, including both professional installers and DIY consumers. The location is strategically situated on the Massachusetts/Rhode Island border, serving a population exceeding 100,000 within a five-mile radius and close proximity to the growing Providence, RI metropolitan statistical area. This is a rare opportunity to acquire a high-quality, net-leased retail property with a strong tenant, long-term lease, and attractive financial metrics.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 2008
Construction STEEL FRAME
Total area 6,831 SF
Lot 0.72 ac (31,376 SF)
APN BELL M:0098 B:0140 L:0000
UPID US38-1823121

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Courier Service Postal Service

Location

45 Pulaski Blvd Bellingham, MA 02019-2729
Bellingham metro Census 443103 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$3.53M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.14M
Blend (final) Blend
$3.51M

Owner & transaction history

since 2021
Last sale
$2.6M
6 recorded transactions
2021
$2.6M
2016
$2.7M
2012
Price N/A
2011
$2.1M
2006
$173,736
2002
$300,000

Zoning & alternative use

Top alternative use upside
Restaurant $2.9M +33.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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