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Miscellaneous

Kenwood Behavioral Residence

65 Kenwood Ave, Worcester, MA 01605

Listing Price: $542,000

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
4,042
Guarantor
Corporate Guarantee
Rentable SF
4,042
Price/Gross SF
$134.09
Lease Type
Absolute Net
Rent Per Square Feet
$10.72

Investment Overview

The subject property is a Behavioral Residence located at 65 Kenwood Avenue 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 are new sprinklers being installed in 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. 65 Kenwood Avenue is less than one mile away from I-I90 which connects to I-290. There are 234,580 people with an average household income of $80,508 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% Rental Increases Annually
  • Less than 3 Miles from Downtown Worcester

Exclusively Listed By

Miscellaneous

Kenwood Behavioral Residence

Listing Price: $542,000

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
4,042
Guarantor
Corporate Guarantee
Rentable SF
4,042
Price/Gross SF
$134.09
Lease Type
Absolute Net
Rent Per Square Feet
$10.72

Investment Highlights

  • Sale Leaseback with 15-Year Lease at Closing
  • 3% Rental Increases Annually
  • Less than 3 Miles from Downtown Worcester

Investment Overview

The subject property is a Behavioral Residence located at 65 Kenwood Avenue 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 are new sprinklers being installed in 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. 65 Kenwood Avenue is less than one mile away from I-I90 which connects to I-290. There are 234,580 people with an average household income of $80,508 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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