Fully leased North Attleboro industrial building

BizGeno summary

A three-tenant industrial property between Boston and Providence offered at a reported 6.27% going-in cap rate. The listing frames below-market rents and upcoming lease rollovers as upside; those same facts also create renewal, vacancy, and improvement-cost risk that should be modeled before treating the pro forma as achievable.

What stands out

• The source reports 100% occupancy, $53,270 of 2025 net operating income, and three tenants on NNN leases.
• The property is less than a mile from Route 1 and roughly two miles from I-95, according to the listing.
• The listing identifies below-market rents and a pro forma NOI of $81,998 as the value-add case.

Questions worth asking

1. What are the exact lease expirations, options, guarantees, security deposits, and reimbursement histories for each tenant?
2. What capital improvements or tenant concessions would be needed to reach the broker's market-rent assumptions?
3. Do environmental, zoning, roof, structure, or deferred-maintenance issues affect industrial reuse?
4. Does the reported NOI reconcile to leases, bank deposits, tax bills, insurance, utilities, and normalized reserves?