Skip to main content

Warehouse

297 Hamilton St

297 Hamilton St, Leominster, MA 01453

Listing Price: $694,000

Cap Rate
8.59%
Gross SF
9,300
Price/Gross SF
$74.62
Lot Size
0.55 acres
Year Built
1955
Rentable SF
9,300

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 297 Hamilton St. Located in Northern Leominster, this property is in a great location off Route 2 and Route 12 and in close proximity to retail tenants such as Michaels, Party City, Petco, and Barnes & Noble. Built in 1955 and later renovated in 2015, the building includes approximately 7,770 SF of first floor storefront retail and warehouse space, and 1,530 SF of second story office space. Its construction is composed of steel and masonry with a flat rubber membrane roof.

The building is currently occupied by two tenants; Northeast Promotion & Apparel (NEPA), and Remuda Trucking. NEPA occupies 53% of the building, 4,770 SF of storefront retail/warehouse space, with Remuda occupying 30% of the remaining warehouse space, roughly 2,700 SF. The remaining 17% of the building is occupied by NEPA Holdings LLC and is used by the landlord. Both tenants are on NNN leases with at least two years remaining.

297 Hamilton St is a pre-existing non-conforming building located in a Residence B (RB) zoning district. This allows a buyer to collect cash-flow from the existing tenants until the expiration of their leases and re-develop the property into residential or continue to operate the building as commercial.

The property is about 1 minute from Route 2, 27 minutes to Worcester, and one hour from Boston.

Investment Highlights

  • Fully Stabilized Commercial Building with All Tenants on NNN Leases
  • Prime Location in Leominster, Only 0.5 Miles to Route 2
  • Located In a Large Retail Corridor With Many Big Box Retailers, Like CVS and Staples

Exclusively Listed By

Listing Price: $694,000

Cap Rate
8.59%
Gross SF
9,300
Price/Gross SF
$74.62
Lot Size
0.55 acres
Year Built
1955
Rentable SF
9,300

Investment Highlights

  • Fully Stabilized Commercial Building with All Tenants on NNN Leases
  • Prime Location in Leominster, Only 0.5 Miles to Route 2
  • Located In a Large Retail Corridor With Many Big Box Retailers, Like CVS and Staples

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 297 Hamilton St. Located in Northern Leominster, this property is in a great location off Route 2 and Route 12 and in close proximity to retail tenants such as Michaels, Party City, Petco, and Barnes & Noble. Built in 1955 and later renovated in 2015, the building includes approximately 7,770 SF of first floor storefront retail and warehouse space, and 1,530 SF of second story office space. Its construction is composed of steel and masonry with a flat rubber membrane roof.

The building is currently occupied by two tenants; Northeast Promotion & Apparel (NEPA), and Remuda Trucking. NEPA occupies 53% of the building, 4,770 SF of storefront retail/warehouse space, with Remuda occupying 30% of the remaining warehouse space, roughly 2,700 SF. The remaining 17% of the building is occupied by NEPA Holdings LLC and is used by the landlord. Both tenants are on NNN leases with at least two years remaining.

297 Hamilton St is a pre-existing non-conforming building located in a Residence B (RB) zoning district. This allows a buyer to collect cash-flow from the existing tenants until the expiration of their leases and re-develop the property into residential or continue to operate the building as commercial.

The property is about 1 minute from Route 2, 27 minutes to Worcester, and one hour from Boston.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower