200 Pleasant St
Berlin, NH 03570
Retail Property For Sale

Rite Aid for Sale set to become Walgreens!! The subject property is comprised of two parcels in Berlin NH. One parcel is a corner lot located at the corner of Mason Street and Pleasant St with an address of 200 Pleasant Street in Berlin, NH. the second parcel is a parking lot used for additional parking. Current Tenant is Rite Aid. 7,520 +/- SF building and sits on .38 Acres of land. Approximately 18+/- parking spots. Current Lease extension period expires 1/31/19. Rite Aid just elected to renew the lease for an additional 5 years, showing their commitment to this site extending the lease until 1/31/2024. Additionally, this store is set to be assumed by Walgreens!! Rite Aid has (1) additional 5-year option period remaining. ***Property is being valued based on the renewal rent of $106,800. The sellers are pledging the difference in the current rent from now-1/31/2019, when the renewal rent is set to begin. Rite Aid Rent Schedule: Current- 2/1/2014-1/31/2019 $84,000/Annually 3rd Option **EXERCISED- 2/1/2019-1/31/2024 $96,600/Annually 4th Option- 2/1/2024-1/31/2029 $111,090/Annually The second lot is located next to the Rite Aid parcel on Pleasant St. It is a vacant lot used for additional parking. This is a 0.13 AC lot which runs until 1/31/19 has been extended to 1/31/2024. There are 2 remaining options to extended this lease agreement for 5 year periods pushing this lease out until 2034, should all renewals be used. Parking Lot Rent Schedule: Current (2nd Option)- 2/1/2014- 1/31/2019 $9,000/Annually 3rd Option- 2/1/2019- 1/31/2024 $10,200/Annually 4th Option- 2/1/2024-1/31/2029 $11,300/Annually 5th Option- 2/1/2029- 1/31/2034 $12,400/ Annually Total Lot Size between two parcel: 0.51 AC Book/Page: 661/212 Approximately 5,800 +/- cars a day!