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Miscellaneous

Elm Behavioral Residence

57 Elm St, Worcester, MA 01609

Listing Price: $595,000

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
4,420
Guarantor
Corporate Guarantee
Rentable SF
4,420
Price/Gross SF
$134.62
Lease Type
Absolute Net
Rent Per Square Feet
$10.77

Investment Overview

The subject property is a Behavioral Residence located at 57 Elm 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 $342,000 of capital improvements done between 2019-2020 and new sprinklers as of 2021. The property is located within one mile of the Worcester Commuter Rail (Union Station) and is less than half a mile from downtown Worcester. 57 Elm Street is less than one mile away from I-290 which connects to I-395. There are 234,087 people with an average household income of $77,215 within a 5-mile radius of the property. This location is within three 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
  • Located Less than One Mile from Downtown Worcester

Exclusively Listed By

Miscellaneous

Elm Behavioral Residence

Listing Price: $595,000

Cap Rate
8.00%
Tenant Name
Vanderburgh House LLC
Gross SF
4,420
Guarantor
Corporate Guarantee
Rentable SF
4,420
Price/Gross SF
$134.62
Lease Type
Absolute Net
Rent Per Square Feet
$10.77

Investment Highlights

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

Investment Overview

The subject property is a Behavioral Residence located at 57 Elm 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 $342,000 of capital improvements done between 2019-2020 and new sprinklers as of 2021. The property is located within one mile of the Worcester Commuter Rail (Union Station) and is less than half a mile from downtown Worcester. 57 Elm Street is less than one mile away from I-290 which connects to I-395. There are 234,087 people with an average household income of $77,215 within a 5-mile radius of the property. This location is within three 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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