Property profile

70 Exchange St Chicopee, MA 01013

OFF-MARKET
Turn key restaurants
Property ID
US38-1070667
1,376 SF 0.13 ac lot Built 1950
Individually Owned 14-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional offering presents a rare chance to acquire the renowned Red Fez Bar and Grill, a beloved Chicopee institution since 1985. Located in the heart of Downtown Chicopee, this well-established business boasts a prime location and a loyal customer base, ensuring immediate returns on investment. The property itself sits on a 0.13-acre lot at 70 Exchange Street. The sale includes both the real estate and the thriving business, offering a complete turnkey operation. The Red Fez is known for its welcoming atmosphere, delicious food, and rich history within the Chicopee community, making it a cherished local landmark. This presents a unique opportunity for an entrepreneur to step into an already successful business with significant potential for future growth and expansion. The established reputation and loyal clientele provide a solid foundation for continued success. This is a truly exceptional opportunity to own a piece of Chicopee history and build upon the legacy of a well-loved establishment. The property's central location offers excellent visibility and accessibility, further enhancing its appeal and potential for profitability. This is a rare chance to acquire a turnkey business with a proven track record in a desirable location. The asking price for this unique opportunity is $460,000.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1950
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,376 SF
Lot 0.13 ac (5,447 SF)
Zoning code 101
APN CHIC M:0076 P:00016
UPID US38-1070667

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
  • Restaurant

Location

70 Exchange St Chicopee, MA 01013-1245
Chicopee metro Census 810901 SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2011
7 recorded transactions
2011
$260,000
2011
$1
2008
$239,000
2008
Price N/A
2007
$187,000
2006
$1
1999
Price N/A

Zoning & alternative use

101 · Chicopee, MA

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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