For Sale
$5,250,000

270 Main St Agawam, MA 01001

106,240 SF Warehouse, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional 106,240-square-foot industrial property in Agawam, Massachusetts, presents a compelling value-add investment opportunity. Situated on a 9.39-acre lot at 270 Main Street, this Class C, multi-tenant building boasts 100% occupancy with 22 tenants and a current NOI of $448,929, yielding an 8.55% cap rate. The property features five loading docks and is zoned for industrial use. Significant upside potential exists due to below-market rents, currently averaging $6.19 per square foot, compared to market rates of $8-$9 for warehouse space and $15-$18 for office space. The pro-forma NOI is projected at $604,000, representing an 11.50% cap rate. This property's strategic location directly across from Hood and its excellent highway access further enhance its appeal. Previous interest from national retail brands like Family Dollar and Dunkin' Donuts underscores its development potential. Additional income streams could be generated through the addition of contractor garages or rooftop solar installations. The property is located within an Opportunity Zone, offering potential tax advantages. Owner financing is available with favorable terms. This versatile property is ideal for investors seeking strong returns and significant upside potential. The building is a two-story structure. Rent bumps are included in the lease agreements.

Highlights

  • 106,240 SF industrial property on 9.39 acres in Agawam, MA, with excellent highway access.
  • Located in an Opportunity Zone.
  • Proven development potential; prior interest from national retailers.
  • Below-market rents ($6.19/SF) offer significant upside potential.
  • $448,929 NOI, 8.5% cap rate.
  • Additional income potential through contractor garages and solar installations.

Property Details for 270 Main St

Property type
Warehouses, Industrial properties
Square Feet
106,240 SF
Class
C
Buildings
1
Stories
2
Lot Size (sq. ft)
409,028 SF

Location Insight

City
Agawam
County
Hampden
State
Massachusetts
Latitude
42.0832652
Longitude
-72.618628

FAQs

What type of property is this?
Warehouse - 106,240 SF Warehouse, High ROI
Where is the warehouse located?
The property is located at 270 Main St Agawam, MA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 106,240 SF industrial property on 9.39 acres in Agawam, MA, with excellent highway access.; Located in an Opportunity Zone.; Proven development potential; prior interest from national retailers.
How can I contact the broker?
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270 Main St
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