Occupied 1,907 SF NNN leased Investment property-11.3 CAP rate return

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30353262
Property Subtypes: Mixed Use, Restaurant, Other
Status: Pending/Contingent
Condo? Yes
Building Size (RSF): 1,907 SF
Gross Building Area: See Agent
Gross Land Area: 3.38 Acres
Sale Price: $184,617
Property Use Type: Investment
Building Name: 254 Breckenridge
Usable Size (USF): 1,907 SF
Sale Terms: Cash to Seller
Cap Rate: 15.92%
Last Updated: 3/19/2019

Overview / Comments

Unit 103 is a currently leased 1,907 SF+/- unit at prominent retail center. NNN lease w/minimal management involvement. Current tenant is a well known long term bakery. Current lease rate is $16.23 PSF ($11.01 NNN). Conveniently located between exits 2 & 3, I-93 & situated close to Salem/Windham Town line. Prime signage on Route 28 and plenty of parking make this an idea location for new companies as well as well established companies looking for good visibility. Professionally managed. Along with neighboring plaza of 264 North Broadway, the facility has a mix of local & regional tenants, including restaurants (such as the well-respected Coliseum Restaurant), general retail, services & offices. Excellent location for retail, service or office operations. There are up to 15 units located at 254 & 264 N. Broadway available for sale individually or as bulk sale, by same owner. Some vacant, some leased/occupied by tenants.$ 184,617

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: 72-3245-103
Is Condo?: Yes
Zoning: COMMERCIAL/INDUSTRIAL B
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Route 28- North Broadway
Highway Access: From North, take Route 93 S to Exit 3, east on Rte 111 to Route 28, south 1.5 miles, plaza on the left.From South, Route 93 to Exit 2, east on Route 97 to Route 28, north 2 miles to plaza on right. 254 North Broadway is the southern building in the plaza.
Site Description: Conveniently located between exits 2 & 3, I-93 & situated close to Salem/Windham Town line. Along with neighboring plaza of 264 North Broadway, the facility has a mix of local & regional tenants, including restaurants (such as the well-respected Coliseum Restaurant), general retail, services & offices. Excellent location for retail, service or office operations.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1988
Construction/Siding: Other
Exterior Description: Various / Vinyl
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Common use of parking lot
Sprinklers: Wet
Heat Type: Propane
Heat Source: Baseboard
Air Conditioning: Package Unit
Internet Access: DSL
Zoning Description: Commercial/Industrial B-See Town of Salem Zoning ordinance
Lot Frontage: 400'
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,095 33,040 94,539
Median Age: 42.93 43.34 41.28
Households: 1,979 12,511 35,024
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.