Littleton, NH Shopping Center on

Shopping Center for Sale
Catylist Listing ID: 30725021
Property Subtypes: Strip Center
Building Size (RSF): 43,657 SF
Gross Land Area: 9.10 Acres
Sale Price: $5,500,000
Unit Price: $125.98 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Average Occupancy Rate: 100
Last Updated: 6/16/2021

Overview / Comments

Fully leased shopping plaza on Littleton's retail corridor known as "The Meadow". Tenants are long term and include Domino's Pizza (since 2019), Tractor Supply (2007), Family Furniture (2010) and the 99 Restaurant (2005). There is an additional pad site that was permitted for a 3,500 SF building but those permits have expired. The 9.1+/- ac site consists of two parcels (7.8 AC and 1.32+/- AC) site offers two curb cuts at either end of the parcel allowing for good access as well as interior flow of traffic. The parcel is serviced by municipal water and sewer and with a municipal owned electric company, offers some of the lowest electric rates in the State. The building that houses Domino's, Tractor Supply and Family Furniture was built in 1989 and the 99 Restaurant building was built in 2005 and is a land lease only. Located on high traffic NH's Route 302 it is in front of Walmart and Shaw's Supermarket with entrances/exits on either side of this parcel. "The Meadow" is also home to such national/regional brands such as Lowes, Home Depot, Staples, TJ Maxx, NH Wine and Liquor Store, Olympia Sports, etc.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $146,915 (Annual)
Gross Operating Income $359,505 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Domino's Pizza
Industry Type Accommodation and Food Services
Is Renting? Yes
SF of Space Occupied 2,942 SF
Current Rent $34,800 PSF (Annual)
Escalations Tenant is in third year of 10 year lease. Rate years 3-5 is $2,900/month. 6-10 is $3,190/month
Options Tenant has one Five Year Option at $3,510/month
Tenant Notes Domino's Pizza has been at this location since 2019
Tenant Business Name Tractor Supply
Industry Type Retail Trade
Is Renting? Yes
SF of Space Occupied 20,003 SF
Current Rent $203,500 PSF (Annual)
Escalations Lease rate are level for each five year option. Each extension term is an increase of 10% of the prior extension term.
Options Tenant is in its first extension term and has three additional 5 year extension terms remaining
Tenant Notes Tractor Supply has been at this location since 2007
Tenant Business Name Family Furniture
Industry Type Retail Trade
Is Renting? Yes
SF of Space Occupied 15,242 SF
Current Rent $48,000 PSF (Annual)
Escalations Current lease is 5 years with years 1-3 rental at $4,000/month. Years 4 and 5 rental is $5,000/month
Options None
Tenant Notes Family Furniture has been in this location since 2010
Tenant Business Name 99 Restaurant
Industry Type Accommodation and Food Services
Is Renting? Yes
SF of Space Occupied 5,470 SF
Current Rent $73,205 PSF (Annual)
Escalations Lease rate is fixed through August 31, 2030.
Options The lease calls for Four 5 year options. Rental payments for options periods are 10% above the prior period and fixed during the option term.
Tenant Notes This is a land lease.

Additional Details

Nearest MSA: Lebanon
County: Grafton
Tax ID/APN: 82-11-0
Zoning: C-1
Retail Clientele: General, Family, Traveler, Tourist
Property Visibility: Excellent
Largest Nearby Street: NH's Route 302
Feet of Frontage: 1,057
Highway Access: Property is on NH's Route 302 and within minutes to US Route 93. It is within 30 minutes of US Route 91
Airports: Manchester Airport is within 2 hours with local, regional airports within 30 minutes
Site Description: The site is is comprised of two parcels...7.8 and 1.32 acres... totaling 9.1+/- acres. The 1.32+/- AC parcel is currently being used by Tractor Supply for outdoor equipment. The site is highly visible and easily accessible.
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Built: 1989
Roof Type: Flat
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: Lined parking spaces are primarily on the south side of the site providing customers close access to each of the business entrances.
Heat Type: Propane, Other
Heat Source: Other
Air Conditioning: Other
Interior Description: HVAC are propane/gas fired rooftop units and utilities are separately metered.
Lot Frontage: 1057
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Easements Description: Overhead electrical lines run through the southern-most portion of the lot.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 824 4,715 6,880
Median Age: 39.14 43.09 43.65
Households: 389 2,183 3,058

Contact

Photograph of Listing Agent

Mary M. Doherty

Peabody & Smith Realty Inc.
NECPE Member
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