For Sale
$240,000

4 Plumtree RdSpringfield, MA 01118

Fee-simple medical office, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This fee-simple medical office building in Springfield, MA, presents a compelling investment opportunity. The property, located at 4 Plumtree Rd, 01118, encompasses 2,750 square feet on a 0.19-acre lot and was built in 1927. Currently 100% occupied by Veterinary Innovative Partners under a 10-year Absolute NNN lease (commencing March 9, 2022, and expiring March 9, 2032), offering a remaining lease term of approximately 7.3 years. The lease includes a corporate guarantee and annual rent bumps of 2% during the option period. A single, five-year lease option is also included. The asking price is $240,000, representing a price per square foot of $87.27 and a 7.00% cap rate based on a Net Operating Income (NOI) of $16,800. This investment benefits from a strong tenant in a recession-resistant industry, with the veterinary services market experiencing consistent growth. The property offers zero landlord responsibilities, making it an attractive, low-maintenance investment. The location boasts a dense population of over 232,000 within a five-mile radius. This offering provides a bite-sized price point with below-market rents and extremely healthy unit-level operations.

Highlights

  • Attractive, below-market rent, bite-sized price point.
  • Exceptional unit-level financials.
  • Strong demographics: 232,000+ population within a 5-mile radius.
  • Zero landlord responsibilities; absolute NNN lease.
  • Recession-resistant investment; veterinary services market experiencing consistent growth.
  • Absolute NNN lease with tenant responsible for taxes; approximately 7 years remaining lease term with 2% annual rent bumps during option period.

Property Details for 4 Plumtree Rd

Property type
Office properties, Medical offices
Square Feet
2,750 SF
Year Built
1927
Buildings
1
Lot Size (sq. ft)
8,276 SF

Location Insight

City
Springfield
County
Hampden
State
Massachusetts
Latitude
42.09230692
Longitude
-72.54536447
4 Plumtree Rd, Springfield, Massachusetts

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4 Plumtree Rd
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