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Five Guys - Retail Condo 58-60 Summer St 3,422 SF 100% Leased Retail Building Boston, MA 02110 $2,678,000 ($782.58/SF) 6.96% Cap Rate
Investment Highlights
- IRREPLACEABLE DOWNTOWN BOSTON LOCATION
- ZERO LANDLORD RESPONSIBILITIES
- EXCEPTIONAL DAYTIME POPULATION DRIVEN BY MAJOR OFFICE EMPLOYERS
- LONG-TERM LEASE WITH ANNUAL CONTRACTUAL RENT GROWTH
- SURROUNDED BY BOSTON’S PREMIER EDUCATIONAL INSTITUTIONS
- DENSE URBAN DEMOGRAPHICS WITH EXCEPTIONAL PURCHASING POWER
Executive Summary
100% occupied by Five Guys. The offering consists of a 3,422-square-foot commercial condominium located in the heart of Downtown Boston and is secured by a recently executed 10-year lease extension through October 2037 with no remaining renewal options. The lease features attractive 3.25% annual rent increases,
providing investors with durable cash flow growth and a projected NOI exceeding $205,000 by the end of the extension term. Positioned steps from Boston’s Financial District, Downtown Crossing, and South Station, the property benefits from one of the most densely populated and highly trafficked urban trade areas in the Northeast. The immediate area is supported by a substantial daytime population driven by major office employers, world-renowned universities, and a robust tourism economy, creating a highly attractive location for one of the nation’s most recognized fast-casual restaurant brands.
Property Facts
Amenities
- Bus Line
- Signage
Sustainability
Sustainability
LEED Certification Developed by the U.S. Green Building Council (USGBC), the Leadership in Energy and Environmental Design (LEED) is a green building certification program focused on the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods, which aims to help building owners and operators be environmentally responsible and use resources efficiently. LEED certification is a globally recognized symbol of sustainability achievement and leadership. To achieve LEED certification, a project earns points by adhering to prerequisites and credits that address carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. Projects go through a verification and review process and are awarded points that correspond to a level of LEED certification: Platinum (80+ points) Gold (60-79 points) Silver (50-59 points) Certified (40-49 points)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Accommodation and Food Services
- -
- -
- Dec 2021
Five Guys began in 1986 as a family-run carry-out burger joint in Arlington, Virginia, founded by Jerry and Janie Murrell with their sons. The company focuses on made-to-order burgers, hand-cut fries cooked in peanut oil, and milkshakes, with food preparation centered on simple ingredients and in-store preparation. Five Guys has since expanded through franchising into a global fast-casual restaurant business with a presence across many markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | Dec 2021 |
Nearby Major Retailers
Contacts
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Justin Smith -
Danielle Turpin -
Matt Ericson -
Danny Griffin -
Kendra Doherty -
Atlantic Capital Partners
