1990 Boston Rd - Freestanding FOR SALE


Wilbraham, MA 01095
$3,999,125 USD
207-939-8500
1990 Boston Rd, Wilbraham, MA for Sale
$3,999,125 USD
Freestanding - FOR SALE
1/4
null | 6% Cap Rate

1990 Boston Rd
Wilbraham, MA 01095


OVERVIEW

Subject property is located at 1990 Boston Rd in Wilbraham, MA. The site is a CVS retail building and has operated at the site since 2001. CVS has a NN lease, Landlord is responsible for the roof and structure. CVS recently agreed to new lease extension terms, extending the current lease term out until 2039! There are 13 years left on the current term. CVS has (3) 5 year renewal options. Additionally, this is a leasehold property with the current term running concurrent with the CVS building lease expiring in 2039 and has (2) 20 year renewal options. **Seller agrees to pledge $10,248 to bring the NOI up to $239,948 for the 2027 rental increase. The retail building is 10,125 +/- sf on .1.33+/- AC of land. The building was built in 2001. There are 50+ parking spaces. Wilbraham, MA is located in Hampden County and is a suburb of Springfield, MA. The town of Wilbraham is known for its regard for higher education and highly rated public school system. Wilbraham is also the home to Wilbraham & Monson Academy a private residential preparatory school. The school has about 400 students and 66 faculty members. The corporate headquarters of Friendly’s Ice Cream was formerly located in Wilbraham and has since been sold to Amici Partners Group. The Town has about 14,613 people and a growing retail district along Boston Road! Surrounding businesses include Home Depot, O’Reilly Auto Parts, Domino’s Pizza, Ford Dealership, Big Y, Urgent Care, Starbucks, Dunkin, Toyota Dealership, Friendly’s Ice Cream Factory, TD Bank, Chipotle, Chick-Fil-A, Staples, Ocean State Job Lot, Town Fair Tire, Petco, Lowe’s, McDonalds, BJs, Hobby Lobby, and more! CVS Rent Schedule: (Annually) Original Term- 12/3/2021-1/31/2027 $ 341,933.99 New Lease Extension Term- 2/1/2027-1/7/2039 $ 352,147.50 Option 1- 1/8/2039-1/7/2044 $ 362,711.88 Option 2- 1/8/2044-1/7/2049 $ 373,593.24 Option 3- 1/8/2049-1/7/2054 $ 384,801.12 Ground Lease Schedule: (Annually) Option1- 1/8/19-1/7/2029 $112,200 Option 1-- 1/8/2029-1/7/2039 $112,200 Option 2- 1/8/2039-1/7/2059 $123,420 Option 3- 1/8/2059-1/7/2079 $135,762

FOR SALE DETAILS

PRICE

$3,999,125 USD

PRICE/SF

$395 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

GB

APN/PARCEL ID

WILB-001150-000024-000325

ASK ABOUT THIS PROPERTY

John GendronGendron Commercial Brokers of BostonMore Info
207-939-8500

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John GendronGendron Commercial Brokers of BostonMore Info
207-939-8500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.