701 Kelly Way Holyoke, MA 01040

Property Details for 701 Kelly Way

Year built

2009

Construction

STEEL FRAME

Lot size

2.76 lot acres

Property size

9,214 SF

Zone code

IP

Property type

Office buildings

APN

HOLY M:0177 B:0000 L:14

APU

HOLYM0177B0000L14

Description

This exceptional investment opportunity presents a single-tenant, net-leased Class A executive office building totaling 13,069 square feet, situated on a 2.755-acre lot in Holyoke, Massachusetts' Crossroads Industrial Park. The property, built in 2009, boasts a 100% occupancy rate with Rexel USA, a globally recognized electrical distributor, under a corporate guaranteed lease with a rent increase scheduled for November 2024. The lease structure is a triple-net (NNN) lease, minimizing landlord responsibilities. The building features approximately 9,069 square feet of well-appointed office space, including private offices, cubicles, a large training room, multiple conference rooms, and a break room. An additional 4,000 square feet of high-bay clean warehouse space is accessible via both a loading dock and drive-in door, providing significant flexibility. The strategic location at the intersection of Interstate 91 and the Massachusetts Turnpike offers unparalleled access to New England's major highway system. The asking price is $3,100,000, representing a compelling 6.06% capitalization rate and a price per square foot of $237.20. The property is zoned for industrial park use and consists of a single, one-story building. The substantial net operating income (NOI) stands at $187,998. This presents a strong, stable investment with significant upside potential.

Location Insight

City

Holyoke

County

Hampden

State

Massachusetts

Longitude

-72.6569

Latitude

42.1653

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments