485 Pleasant St
Attleboro, MA 02703
Stop & Shop Fueling Station · Retail Property For Sale

Marcus & Millichap is pleased to present for sale 485 Pleasant Street in Attleboro, Massachusetts. The property is leased to Stop & Shop for a fueling station that they operated and renovated in 2010. The property is located in a thickly settled retail area and an out-parcel to the Super Stop & Shop that it was developed to service. There are approximately 12+ years remaining in the NNN ground lease that was structured with 5% increases every five years in the primary term, 7.5% increases every five years in the first four options and 10% increases every five years in the final four options. The next rent increase will occur in 2020. Stop & Shop operates over 400 stores throughout Massachusetts, Rhode Island, Connecticut, New Hampshire, New York and New Jersey and is a leading food retailer in the Northeast. The Stop & Shop Fueling Program was designed to work in conjunction with retail grocery operations and drive traffic through the use of discounted gas from a points reward system. The site has frontage on Pleasant Street, also known as Route 123, which is the dominant retail corridor coming from the downtown area. The property is across the street from a CVS and adjacent to a Bank of America. Other nearby retailers include McDonalds, Walgreens, Dunkin Donuts, KFC, AutoZone and Fresenius Healthcare among others. These retailers are traffic drivers to the area and indicate strong residual value of the real estate from a commercial standpoint. Additional traffic drivers and indicators of economic strength that are in close proximity include Sturdy Memorial Hospital, Bristol Community College and Sensata Technologies. Attleboro is traditionally considered a bedroom community to both Providence, RI which is only a few minutes drive but also of Greater Boston which is approximately an hour drive and easily accessible from the MBTA commuter rail. Demographics in the five mile radius are attractive with population over 89,000 and above average household income of over $97,000. This is an excellent opportunity for an investor to own a fundamentally sound piece of real estate leased to a very strong tenant with zero management responsibility. The prime location and increases in rent ensure long term success for the investor.