57 Pearl Street

57 Pearl Street, Springfield, MA 01105 is an established women’s recovery residence located in Springfield, Massachusetts. The property is operated as a NARR-Affiliate Certified Recovery Residence at the NARR Level II standard and is leased to an established behavioral healthcare operator under a long-term absolute NNN lease.

The facility contains approximately 3,294 square feet and supports a service capacity of 25 recovery housing beds. The property was acquired in 2022 and subsequently renovated to meet NARR 3.0 standards, including safety upgrades, operational enhancements, and modifications aligned with national and state behavioral healthcare requirements.

Lease and Income Structure

The property is subject to an absolute NNN lease with 19 years remaining on a 20-year lease term. The offering memorandum describes the lease structure as providing minimal landlord responsibilities, with the tenant responsible for real estate taxes, insurance, and capital items under the NNN lease.

Annual lease payments are $118,680. Using a 9.00% capitalization rate, the lease income supports an imputed value of approximately $1,319,000. This allows buyers to evaluate the asset primarily through its long-term income stream, tenant strength, lease structure, and mission-critical recovery housing use.

Recovery Housing Use

The property is operated as a women’s recovery residence, providing structured, supportive housing for women in recovery from substance use disorder. Recovery housing offers a substance-free living environment where residents live semi-autonomously while following house rules, engaging in recovery activities, and receiving support through house leadership and peer accountability.

The memorandum describes the property as a fully compliant recovery residence that provides a stable recovery support environment. This existing certification and operating history distinguish the property from a speculative conversion and support its positioning as a stabilized behavioral healthcare real estate asset.

Investment Opportunity

This offering is best positioned as a stabilized recovery housing investment with long-term income security. The property combines an established recovery housing use, NARR Level II certification, an absolute NNN lease, and a well-established tenant with a history of operating structured recovery residences.

The opportunity may be attractive to buyers seeking passive income from a specialized healthcare real estate asset. Unlike an owner-operated recovery home or vacant residential property, 57 Pearl Street is already leased and operating within a defined recovery housing framework.

Location and Market Context

Springfield is one of the largest cities in Massachusetts and serves as a regional hub for healthcare, transportation, public services, employment, and community resources. The property’s urban location supports its continued use as recovery housing by placing residents near the services and recovery-supportive infrastructure that can help support stability and long-term reintegration.

Key Property Details

• Address: 57 Pearl Street, Springfield, MA 01105
• Purchase Price / Imputed Value: Approximately $1,319,000
• Property Type: Recovery housing / behavioral healthcare real estate facility
• Building Size: Approximately 3,294 sq. ft.
• Total Beds: 25
• Current Use: Women’s recovery residence
• Certification: NARR Level II Recovery Residence
• Lease Structure: Absolute NNN lease
• Lease Term Remaining: 19 years
• Annual Lease Payment: $118,680
• Net Income: $118,680
• Valuation Cap Rate: 9.00%
• Tenant Responsibilities: Real estate taxes, insurance, and capital items under the NNN lease

Buyer Fit

This property may be well suited for a passive real estate investor, 1031 exchange buyer, healthcare-focused real estate investor, mission-driven purchaser, or nonprofit-aligned buyer seeking a long-term income-producing recovery housing asset.

The opportunity is especially relevant for buyers who want exposure to recovery housing real estate without directly operating the home. With a certified recovery residence, long-term absolute NNN lease, established tenant, and predictable lease income, the property offers a combination of stability, social impact, and long-term cash flow potential.