Listed by Jennings Real Estate
$3,990,000
Springfield Retail Investment Property
Details
Property Type Retail
Sub Type Bank, Restaurant
Square Footage 9,000
Units 3
Cap Rate 6.97%
NOI $278,045
Occupancy 100%
Tenancy Multi
Brand/Tenant Verizon Wireless, Applebee's
Lease Type NNN
Class A
Year Built 2004
Year Renovated 2004
Buildings 2
Acreage 2.520
Zoning Business A
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease Yes
Retail | 6.97% CAP | 9,000 SqFt
Marketing description
Jennings Real Estate Services, Inc.- The property is a 2.52-acre parcel that includes a free-standing bank building, a free-standing restaurant building, and a cell tower. The bank building is 3,113 square feet and is leased to M&T Bank. The restaurant is a 4,884-square-foot building leased to the Flynn Group under a corporate Applebee’s lease. The cell tower at the rear of the property is leased to Verizon and managed by Vertical Bridge. The property is located on the busy commercial corridor of Boston Road in Springfield that sees more than 23,000 vehicle trips per day.
Listing Contacts
Listed by Jennings Real Estate
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$278,045.00
$23,170.42/mo
Valuation Metrics
0
DSCR
6.97%
Cap Rate
6.97%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
