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Miscellaneous

Germain Behavioral Residence

16 Germain St, Worcester, MA 01602

Listing Price: $1,137,500

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
7,623
Guarantor
Corporate Guarantee
Rentable SF
7,623
Price/Gross SF
$149.22
Lease Type
Absolute Net
Rent Per Square Feet
$11.94

Investment Overview

The subject property is a Behavioral Residence located at 16 Germain Street in Worcester, Massachusetts. This sale leaseback includes a 15-year lease to be executed at closing along with three five-year options. With 3% increases every year and an absolute NNN lease, this is a very desirable asset for an investor looking for passive income with no landlord responsibilities. There were $290,000 of capital improvements done between 2019-2020 and new sprinklers as of 2021. The property is located nine minutes away from the Worcester Commuter Rail (Union Station) and is less than three miles away from downtown Worcester. 16 Germain Street is less one mile away from to I-290 which connects to I-190. There are 230,930 people with an average household income of $77,640 within a 5-mile radius of the property. This location is within two miles of the Greendale Shopping Mall Redevelopment and Lincoln Plaza with tenants such as Target, Stop & Shop, Home Depot, Lowe’s, and Dollar Tree.

Investment Highlights

  • Sale Leaseback with 15-Year Lease at Closing
  • 3 Percent Rent Increases Annually
  • Less than Three Miles from Downtown Worcester

Exclusively Listed By

Miscellaneous

Germain Behavioral Residence

Listing Price: $1,137,500

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
7,623
Guarantor
Corporate Guarantee
Rentable SF
7,623
Price/Gross SF
$149.22
Lease Type
Absolute Net
Rent Per Square Feet
$11.94

Investment Highlights

  • Sale Leaseback with 15-Year Lease at Closing
  • 3 Percent Rent Increases Annually
  • Less than Three Miles from Downtown Worcester

Investment Overview

The subject property is a Behavioral Residence located at 16 Germain Street in Worcester, Massachusetts. This sale leaseback includes a 15-year lease to be executed at closing along with three five-year options. With 3% increases every year and an absolute NNN lease, this is a very desirable asset for an investor looking for passive income with no landlord responsibilities. There were $290,000 of capital improvements done between 2019-2020 and new sprinklers as of 2021. The property is located nine minutes away from the Worcester Commuter Rail (Union Station) and is less than three miles away from downtown Worcester. 16 Germain Street is less one mile away from to I-290 which connects to I-190. There are 230,930 people with an average household income of $77,640 within a 5-mile radius of the property. This location is within two miles of the Greendale Shopping Mall Redevelopment and Lincoln Plaza with tenants such as Target, Stop & Shop, Home Depot, Lowe’s, and Dollar Tree.

Exclusively Listed By

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