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FleetPride | 10-Year NNN Lease 32 Century St 33,000 SF Industrial Building Agawam, MA 01001 $6,525,926 CAD ($197.76 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- FleetPride: A Highly Reputable, B- Rated Industrial Tenant With Over 300 Locations Across the U.S.
- Prime Location: Strategically Positioned Off the Intersection of I-91 Freeway and the I-57 Highway with Combined Traffic Counts Exceeding 145,000 CPD
- Mission-Critical Location: FleetPride Has Operated at This Site for Over 20 Years and Recently Committed to a 10-Year Lease Extension, Proving the Ten
EXECUTIVE SUMMARY
--High Credit Tenant
-Strong Corporate Guarantee: Backed by a Tenant with Over $6 Billion in Annual Revenue
-Market Leadership: FleetPride Is the Largest U.S. Distributor of Heavy-Duty Truck and Trailer Parts and Services
-Mission Critical Location: FleetPride Service Center with 12 Truck Bays to Perform Maintenance on Heavy Duty Trucks
-Fair Market Value Renewals: Lease Renewal Options are at Fair Market Value, Providing a Great Hedge Against Inflation
-E-Commerce & Recession-Resilient: FleetPride's Business Model Is Well-Suited to Thrive in Various Economic Condition
--Strong Real Estate Fundamentals
-Highly Desirable IOS Site: The Property Boasts a Large 2.91-Acre Lot, a Key Feature in Today’s Market
-Long-Term Occupancy: FleetPride Has Consistently Renewed Its Lease and Operated Successfully at This Location Since 2005
-Excellent Condition: Both Tenant and Landlord Have Invested in Significant Capital Improvements, Maintaining the Property in Top Condition
-Investor-Friendly: This NN Industrial Property Offers Minimal Landlord Responsibilities, Ideal for Investors Who Are Not Local to the Market
-Located in a Dense Industrial Area with other National Brands such as Pepsi Bottling Group, FedEx Ground, Amazon, Old Dominion Freight, Thermo King, H&E Equipment Services, ABF Freight, Motion Industries, Epiroc, Culligan, and Many More within Close Proximity to the Subject Property
--Pride of Ownership Springfield, MA
-High Density Population: Over 223,000 Residents within 5 Miles
-Strong Daytime Workforce: Over 237,000 Daytime Employees within 5 Miles
-Affluent Population: Average Household Income Exceeds $84,000 within 5 Miles
Broker of Record: Thomas Shihadeh – License: #1000485
-Strong Corporate Guarantee: Backed by a Tenant with Over $6 Billion in Annual Revenue
-Market Leadership: FleetPride Is the Largest U.S. Distributor of Heavy-Duty Truck and Trailer Parts and Services
-Mission Critical Location: FleetPride Service Center with 12 Truck Bays to Perform Maintenance on Heavy Duty Trucks
-Fair Market Value Renewals: Lease Renewal Options are at Fair Market Value, Providing a Great Hedge Against Inflation
-E-Commerce & Recession-Resilient: FleetPride's Business Model Is Well-Suited to Thrive in Various Economic Condition
--Strong Real Estate Fundamentals
-Highly Desirable IOS Site: The Property Boasts a Large 2.91-Acre Lot, a Key Feature in Today’s Market
-Long-Term Occupancy: FleetPride Has Consistently Renewed Its Lease and Operated Successfully at This Location Since 2005
-Excellent Condition: Both Tenant and Landlord Have Invested in Significant Capital Improvements, Maintaining the Property in Top Condition
-Investor-Friendly: This NN Industrial Property Offers Minimal Landlord Responsibilities, Ideal for Investors Who Are Not Local to the Market
-Located in a Dense Industrial Area with other National Brands such as Pepsi Bottling Group, FedEx Ground, Amazon, Old Dominion Freight, Thermo King, H&E Equipment Services, ABF Freight, Motion Industries, Epiroc, Culligan, and Many More within Close Proximity to the Subject Property
--Pride of Ownership Springfield, MA
-High Density Population: Over 223,000 Residents within 5 Miles
-Strong Daytime Workforce: Over 237,000 Daytime Employees within 5 Miles
-Affluent Population: Average Household Income Exceeds $84,000 within 5 Miles
Broker of Record: Thomas Shihadeh – License: #1000485
PROPERTY FACTS
| Price | $6,525,926 CAD | Rentable Building Area | 33,000 SF |
| Price Per SF | $197.76 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1970 |
| Cap Rate | 6% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.52/1,000 SF |
| Property Subtype | Service | No. Dock-High Doors/Loading | 1 |
| Building Class | C | No. Drive In / Grade-Level Doors | 13 |
| Lot Size | 2.90 AC | ||
| Zoning | IA | ||
| Price | $6,525,926 CAD |
| Price Per SF | $197.76 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 6% |
| Property Type | Industrial |
| Property Subtype | Service |
| Building Class | C |
| Lot Size | 2.90 AC |
| Rentable Building Area | 33,000 SF |
| No. Stories | 1 |
| Year Built | 1970 |
| Tenancy | Single |
| Parking Ratio | 1.52/1,000 SF |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 13 |
| Zoning | IA |
AMENITIES
- Fenced Lot
1 1
PROPERTY TAXES
| Parcel Number | AGAW-000013N-000008-000008 | Improvements Assessment | $2,003,446 CAD |
| Land Assessment | $244,778 CAD | Total Assessment | $2,248,224 CAD |
PROPERTY TAXES
Parcel Number
AGAW-000013N-000008-000008
Land Assessment
$244,778 CAD
Improvements Assessment
$2,003,446 CAD
Total Assessment
$2,248,224 CAD
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FleetPride | 10-Year NNN Lease | 32 Century St
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