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Grocery Store

CVS and Stop & Shop

1475-1479 Newman Ave, Seekonk, MA 02771

Listing Price: $17,550,376

Cap Rate
5.09%
Tenant Name
CVS, Stop & Shop
Years Remaining On Lease
16.8
Guarantor
Corporate Guarantee
Rentable SF
61,444
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.53

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a fee simple condominium interest in CVS, Stop & Shop, and a Vacant Building, all located at 1475 and 1479 Newman Avenue in Seekonk, MA. The site consists of approximately 61,444 rentable square feet on an estimated 9.13-acre parcel of land. The CVS consists of approximately 12,900 rentable square feet that is subject to a 25-year Absolute NNN lease which commenced on May 1st, 2014. The current annual rent is $550,000 and is scheduled to increase at the start of each option period exercised by the tenant. There are a total of six(6), five(5)-year option periods. The lease is subject to a 10% increase at the start of the first (1st) option period and a 5% increase at the start of option periods two (2) through six (6). The Stop & Shop consists of approximately 40,734 square feet of rentable space. This asset is subject to an Absolute NNN lease which has been in place for over 32 years! The current rent is $264,771 and is subject to two option periods: one(1), five(5)-year option followed by a one(1), one(1)-year option. The vacant property consists of approximately 7,810 rentable square feet. At close of escrow, the seller will enter into a two (2)-year Triple Net Master Lease providing cash flow to a new investor while they secure a long term tenant.

Investment Highlights

  • Three-Unit Fee Simple Offering of a Stop & Shop Grocery Store, A CVS with a Drive Through, and a 7,810 Vacant Unit on a Massive Parcel in MA
  • Strong Credit Backing of Corporate CVS and Stop & Shop
  • Essential Businesses | Long Term Tenancy | Recession Proof Businesses

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s) MA: 1000485

    Massachusetts

Grocery Store

CVS and Stop & Shop

Listing Price: $17,550,376

Cap Rate
5.09%
Tenant Name
CVS, Stop & Shop
Years Remaining On Lease
16.8
Guarantor
Corporate Guarantee
Rentable SF
61,444
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.53

Investment Highlights

  • Three-Unit Fee Simple Offering of a Stop & Shop Grocery Store, A CVS with a Drive Through, and a 7,810 Vacant Unit on a Massive Parcel in MA
  • Strong Credit Backing of Corporate CVS and Stop & Shop
  • Essential Businesses | Long Term Tenancy | Recession Proof Businesses

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a fee simple condominium interest in CVS, Stop & Shop, and a Vacant Building, all located at 1475 and 1479 Newman Avenue in Seekonk, MA. The site consists of approximately 61,444 rentable square feet on an estimated 9.13-acre parcel of land. The CVS consists of approximately 12,900 rentable square feet that is subject to a 25-year Absolute NNN lease which commenced on May 1st, 2014. The current annual rent is $550,000 and is scheduled to increase at the start of each option period exercised by the tenant. There are a total of six(6), five(5)-year option periods. The lease is subject to a 10% increase at the start of the first (1st) option period and a 5% increase at the start of option periods two (2) through six (6). The Stop & Shop consists of approximately 40,734 square feet of rentable space. This asset is subject to an Absolute NNN lease which has been in place for over 32 years! The current rent is $264,771 and is subject to two option periods: one(1), five(5)-year option followed by a one(1), one(1)-year option. The vacant property consists of approximately 7,810 rentable square feet. At close of escrow, the seller will enter into a two (2)-year Triple Net Master Lease providing cash flow to a new investor while they secure a long term tenant.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s): MA: 1000485

    Massachusetts

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