Historical Retail Sale Listing - Mimi's Cafe

Retail For Sale

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Mimi's Cafe

2 Elm Street, Braintree, MA 02184

N/A

6,700 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
6,700 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
6%
Occupancy:
100%
Tenancy:
Single
Property on Ground Lease?:
Yes
Lot Size:
1.40 AC
Listing ID
15456835
Last Updated
over 1 year ago

Highlights

  • Principals Only
  • Sign and submit CA for Brochure
  • Outstanding Location
  • 10% rent increases every 5 years
  • 20 year lease

Description

The subject property is a ground lease leased to Mimi' s Café. It offers a Corporate Guarantee with SWH Corporation which is a wholly owned subsidiary of Bob Evans Farm, INC. The lease is a brand new 20 year ground lease with impressive rent increases of 12% every 5 years of the primary term. The lease has 2 (5 year) option periods with 12% rent increases as well. The construction was completed in 2007 and sits on a 1.4 acre outparcel to a major retail development with other National Retail tenants. The lease has NO landlord obligations. This is an incredible opportunity for the investor seeking a property in a phenomenal location with no management whatsoever!

The property is located as an outparcel to a Major Retail Development with several National and Regional Retailers residing in the center. This is truly a Class A Power Center. The population has shown very strong and consistent growth over recent years and boasts an Average Household Income well above the US average! The location is truly phenomenal and should leave no landlord questioning the quality of tenants and buildings neighboring this property! For more specifics please sign the CA attached and have faxed back to the number on the agreement. This property is being offered exclusively to Principals Only!

Map of 2 Elm Street, Braintree, MA 02184 (Norfolk County)

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Created 11/28/2007