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Firestone 50 Independence Way 6,600 SF Retail Building Danvers, MA 01923 $5,825,000 ($882.58/SF) 5.15% Cap Rate
Investment Highlights
- Absolute Triple Net Lease with No Landlord Responsibilities
- Long-Term Occupancy & Extended Lease Commitment
- Located Within Liberty Tree Mall Retail District
- Backed by a Global Industry Leader
- Adjacent to New Chick-fil-A Development
- High-Volume Traffic Count
Executive Summary
Surmount is pleased to present the exclusive listing for a Firestone located at 50 Independence Way, Danvers, MA 01923. The site consists of roughly 6,600 rentable square feet of building space on an estimated 1.08-acre parcel of land. Firestone is subject to a 10-year Triple Net (NNN) lease, which commenced 10/5/1989. The current annual rent is $300,000 and has a scheduled increase of 7.50% in May 2031.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,600 SF
Building Class
C
Year Built
1995
Price
$5,825,000
Price Per SF
$882.58
Cap Rate
5.15%
NOI
$300,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.08 AC
Zoning
I1
Frontage
233’ on Endicott St
Amenities
- Security System
- Signage
- Wheelchair Accessible
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Contacts
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Josh Kanter -
Anthony D'Ambrosia -
Kevin Burke -
Glen Kunofsky -
Christopher Marks -
Surmount
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