70 Exchange St Chicopee, MA 01013-1245
- Turn key restaurants
- 1,376 SF
- 0.13 lot acres
Current Use by Public Records
- Red Fez Bar & Grill / Portuguese Restaurant
Property Details for 70 Exchange St
- Year built
- 1950
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.13 lot acres
- Property size
- 1,376 SF
- Zone code
- 101
- Property type
- Turn key restaurants
- APN
- CHIC M:0076 P:00016
- APU
- CHICM0076P00016
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $295,000
- 6.5%
- $275,000
- 7%
- $290,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $285,000
- Geo Method
- $300,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $290,000
- Retail
- $315,000
- Mixed-Use
- $250,000
- Hospitality
- $265,000
- Educational
- $285,000
- Residential Income
- $290,000
- Energy
- $250,000
- Income-Based Land
- $280,000
- Food Service
- $240,000
Location Insight
- Map
- Local Demand
- City
- Chicopee
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.6126
- Latitude
- 42.1457
- CBSA code
- 44140
- CBSA name
- SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA