501 Memorial Ave
West Springfield, MA 01089
Firestone I 12.5 Years Remaining on Lease · Retail Property For Sale

Firestone is now available in West Springfield, Massachusetts, and listed by Braden Crockett for Matthews Real Estate Investment Services. Recently extended for a total of 13 years, demonstrating tremendous commitment to the location and a clear indication of strong performance. Strong operating history - Firestone has been a tenant since the early 60's. Rare absolute NNN lease - bond-like investment with no management responsibilities. Annual NOI of $166,100 starting 4/1/2018 (Seller to credit the difference in rents at close or shall place the difference in an escrow account for the buyer). 12% increase on April 1, 2024 - great hedge against inflation. No options remaining - investor has the flexibility to renegotiate more favorable terms or even a higher rent. Historic Trade Area - the Naismith Memorial Basketball Hall of Fame is just across the Connecticut River from the subject property. The Hall of Fame is home to more than 300 inductees and 40,000 SF of basketball history. Well-positioned asset - the Firestone is situated on the hard corner of Memorial Ave (20,000 VPD) and out-parceled to the main retail corridor. Strategically positioned near three major auto dealerships which may promote corporate service accounts. Surrounding anchor tenants include: Big Y, Harbor Freight, Price Rite, Savers, Modell's Sporting Goods.