For Sale
$2,206,896

45 Pulaski Blvd Bellingham, MA 02019

7,000 SF Net Lease, 7.25% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
132
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.

Highlights

  • Investment-grade tenant: Advance Auto Parts (AAP), a publicly traded national retailer, provides corporate lease guaranty.
  • Long-term lease with approximately 6.75 years remaining, plus three 5-year options; tenant occupied since 2008.
  • Favorable lease terms with minimal landlord responsibilities.
  • Excellent location in high-traffic area near downtown Woonsocket, RI, across from Stop & Shop and other national retailers.
  • Strong market; serves a population exceeding 100,000 within a 5-mile radius and is proximate to the growing Providence, RI MSA.

Property Details for 45 Pulaski Blvd

Property type
Retail properties, Retail space
Square Feet
7,000 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
31,363 SF
Units
1

Location Insight

City
Bellingham
County
Norfolk
State
Massachusetts
Latitude
42.0179736
Longitude
-71.4964946

FAQs

What type of property is this?
Retail property - 7,000 SF Net Lease, 7.25% Cap Rate
Where is the retail property located?
The property is located at 45 Pulaski Blvd Bellingham, MA.
What is the asking price?
The asking price for this property is $2,206,896.
What are key features of this property?
This property features: Investment-grade tenant: Advance Auto Parts (AAP), a publicly traded national retailer, provides corporate lease guaranty.; Long-term lease with approximately 6.75 years remaining, plus three 5-year options; tenant occupied since 2008.; Favorable lease terms with minimal landlord responsibilities.
How can I contact the broker?
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45 Pulaski Blvd
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