354 Russell St.
Hadley, MA 01035
|Price: $1,880,000||Building Size: 2,100|
|Cap Rate: 4.25%||Lot Size: 0.68|
|Annual Rent: $80,000||Year Built: 2013|
National Retail Properties is pleased to present for sale a Chipotle Mexican Grill located in Hadley, MA. This is a corporately guaranteed ground lease that is absolute NNN with no landlord responsibilities. Approximately 12 years remain on the original 15 year lease which commenced in 2012. The lease provides for strong rental growth including a 15% increase in 2020 and 10% increases in each option.
The property is located at the signalized intersection of Russell Street and Maple Street. The 2,100 square foot building is situated on 0.68 acres in the center of a strong regional retail trade area. Surrounding retailers include Whole Foods, Trader Joe’s, Starbucks, Home Depot, Lowe’s, Walmart and the Hampshire Mall (Target, Dick’s, Cinemark, JC Penny’s, etc.). The city of Hadley, originally founded in 1659, is the center of the Five College Consortium (U Mass Amherst, Mount Holyoke, Amherst, Smith, Hampshire) that has a combined enrollment of almost 40,000 students.