165 Front Street

Chicopee, MA

For Sale

$7,500,000

OVERVIEW

LOCATION:
165 Front Street, Chicopee, MA 01013

Asset Type: Retail

Square Feet: 700,000

Stories: 5

 

Description

Large 700,000 SF commercial building. 250,000 SF currently occupied and generating annual income of $ 1,100,000 with an NOI of approx $650,000. Located near the juncture of Rt. 90 (Mass Tpke) and Rt. 91.

 

Ideally Located Adjacent to I-391 & Under 1 Mile from I-90 & I-91 and only Five Minutes from Downtown Springfield, 23 Miles from Hartford & 89 Miles from Boston Spectacular Exposure to I-391 - Billboard & Cell Tower Income. Building is Sprinklered. Tenants Include Verizon Cell Tower, Lamar Advertising, Professional Office Space, Warehouse, Light Manufacturing & Others. Prime Mixed-Use Resi Conversion with 300,000 Sq Ft Prepped for Conversion. Heavy Load Bearing Floors 15' Clear Ceiling Height in Majority of Building Exposed Bricks & Wood Beams $2 Million+ in Recent Improvements.

 

Founded in 1931, Cabotville Industrial Park is the oldest multi-tenant industrial park in New England. Located in the center of Chicopee, Massachusetts, along the banks of the Chicopee River, Cabotville Industrial Park consists of seven multi-story brick facade buildings on nine acres of prime industrial land. With Appx. 700,000 square feet of rentable space, Cabotville Industrial Park has provided small to medium size businesses with an economical, well-maintained environment.

 

  • Heavy Load Bearing Floors & mostly 15′ Clear Ceiling Height Featuring Exposed Bricks & Wood Beams

  • 2 Passenger & 5 Freight Elevators

  • Over $2 Million in Recent Improvements, inlcuding:

  • New Roofs Installed Over Past Three Years

  • Removed Gas Boiler & Replaced with Miles of Gas Lines for Individual Heating Units

  • Upgraded Electrical System

  • Upgraded Elevators & Windows (Parts of Building)

  • 100% Sprinklered Building (11 Risers – 10 Dry Systems)

  • 440/220/110 Volt Single & Three Phase Electrical Service

  • Asbestos Free and in Total 21 E Compliance

  • Private Access Directly off Davitt Memorial Bridge

  • Residential Conversion Plan for Building 1 (Overview):

  • 300,000 Sq Ft. Floors 1 – 5 (60,000 Sq Ft/Floor)

  • “High-Rise Status” Exemption Successfully Obtained

  • New Windows Installed on 5th Floor

  • Draft Plans available on request

  • Gross Rentable Building Area (Including Substantially Occupied Basement): 689,310 Sq Ft

  • Situated on 14 Acres; 700 Parking Spaces – Sale Includes Lots Across the Street from Complex

  • Parcel ID #’s: 0095-40001 through 0095-40022 & 0095-40024 & 0096-00035

  • Annual Real Estate Taxes: $180,558 (Appx)

 

Nearby Transportation