Salem, NH-Investment condos for sale(occupied/leased) #105 is 2,181 SF

Retail-Commercial for Sale
Catylist Listing ID: 30364190
Property Subtypes: Restaurant, Tavern/Bar/Nightclub, Other
Condo? Yes
Building Size (RSF): 2,181 SF
Gross Building Area: 17,172 SF
Gross Land Area: 2.25 Acres
Sale Price: $207,000
Property Use Type: Net Leased Investment (NNN)
Building Name: Breckenridge Plaza II
Sale Terms: Other
Cap Rate: 11.82%
Average Occupancy Rate: 100
Last Updated: 2/25/2019

Overview / Comments

Unit 105 at 264 North Broadway is a leased investment condo for sale with well-known restaurant tenant. 2,181.67 gross SF rented for a 11.82 CAP rate. Years remaining on the lease and good infrastructure within the restaurant unit. Breckenridge plaza is premier retail/office/commercial facility on North Broadway in Salem, NH. Conveniently located between exits 2 and 3, I-93. Plaza has excellent mix of well-known retail companies as well as numerous office and general commercial businesses. 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. There are up to 15 units at 254 & 264 N. Broadway avail. for sale individually or as bulk sale, by same owner. Some vacant, some leased/occupied by tenants.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $3,936 (Annual)
Potential Rental Income $35,208 (Annual)
Net Operating Income $24,469 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Rockingham Cafe
Is Renting? Yes

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: ap 72, Lot 3230, Unit 105
Is Condo?: Yes
Zoning: COMMERCIAL / INDUSTRIAL B
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: Route 28
Feet of Frontage: 165
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Excellent
Year Built: 1988
Parking Type: Surface
Parking Description: Ample parking throughout facility
Lot Frontage: 165
Lot Depth: 605.22
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,095 36,392 91,685
Median Age: 42.93 43.64 41.49
Households: 1,979 13,791 34,013
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