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

Retail-Commercial for Sale
Catylist Listing ID: 30501958
Property Subtypes: Restaurant, Street Retail, 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: 3/3/2021

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. Long term business 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. One other larger vacant unit (8,500 SF) is also available for sale. $207,000

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $3,936 (Annual)
Potential Rental Income $35,208 (Annual)
Net Operating Income $24,469 (Annual)
Actual or Proforma Year Actual
Finance Data Year 2018
Real Estate Taxes - Annual($) $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
Annual Revenue $35,208 (Annual)
Tenant Business Name Rockingham Cafe
Is Renting? Yes

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: Map 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
Highway Access: Located on State Route 28. 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. 264 North Broadway is the northern building in the plaza.
Site Description: 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.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Excellent
Year Built: 1988
Construction/Siding: Vinyl Siding, Wood Siding
Parking Type: Surface
Parking Description: Ample parking throughout facility
Sprinklers: Wet
Heat Type: Propane
Heat Source: Central
Air Conditioning: Other
Zoning Description: Commercial/Industrial B- See Town of Salem Regulations
Lot Frontage: 165
Lot Depth: 605.22
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Map 72, Lot 3230, Unit 105

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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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