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Walgreens 158 Main St 14,500 SF Retail Building North Reading, MA 01864 $6,088,889 ($419.92/SF) 9% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Lease
- Investment Grade Credit
- High Traffic Coiunts
- Zero Management Responsibilities
- Strategic Retail Location
- Affluent Demographics
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, absolute triple-net leased Walgreens located at 158 Main Street in North Reading, Massachusetts (the “Property”). Walgreens has occupied this Property since it was constructed in 2008 and they have 8+ years remaining on an absolute triple-net lease with fifty (50), 1-year renewal options. The Property is situated on a highly visible corner parcel at the signalized intersection of Main Street (MA Route 28) and MA Route 62, two of the area’s primary commercial and commuter corridors. The Property enjoys outstanding visibility and frontage and benefits from three points of access. The Property is ideally situated along Main Street positioned directly in between the town’s two larger shopping centers. Walgreens is 0.7-miles from the Stop & Shop anchored Atlantic Plaza and 0.7-miles from the Walmart anchored North Reading Plaza. Additionally, Walgreens is 1.6-miles from MA Route 125 and 2-miles from Interstate 93. The North Reading Middle and High Schools are also just 2-miles from the Property.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,500 SF
Building Class
B
Year Built
2008
Price
$6,088,889
Price Per SF
$419.92
Cap Rate
9%
NOI
$548,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.71 AC
NEARBY MAJOR RETAILERS
1 of 8
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Walgreens | 158 Main St
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