208 Main St - Freestanding FOR SALE


Wilmington, MA 01887
$7,041,616 USD
781-776-4003
208 Main St, Wilmington, MA for Sale
$7,041,616 USD
Freestanding - FOR SALE
1/7
null | 6% Cap Rate

208 Main St
Wilmington, MA 01887


HIGHLIGHTS

  • New Construction
  • Attractive Rent Increases
  • Minimal Landlord Responsibilities
  • Dynamic Corporate Tenants
  • Prime Retail Location
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in the two-tenant plaza located at 208 Main Street in Wilmington, Massachusetts (the “Property”). The build to suit, two-tenant plaza is improved with Chase Bank and Chipotle and contains 6,924 square feet on a 1.32-acre parcel. The Property is currently under construction. Chase Bank has a new 15-year lease with six (6), 5-year renewal options and Chipotle has a new 15-year lease with four (4), 5-year renewal options. Both tenants’ leases call for attractive10% rent increases every five years throughout the primary lease terms and at the start of each of the renewal option periods. The Property enjoys outstanding frontage and visibility at the signalized intersection of Richmond Street and Main Street, the area’s primary commercial and commuter corridor. Positioned in the heart of Wilmington’s commercial district, the new construction Property is adjacent to McDonald’s and the Rustica Memorial Arena and is seconds from Wilmington Plaza, which is anchored by Market Basket, TJ Maxx, and Ace Hardware. The Property is surrounded by local and national retailers and restaurants that drive traffic to the area, and is convenient to Wilmington’s schools and residential neighborhoods providing a captive customer base. Wilmington is a suburban town located in Middlesex County, approximately 15 miles north of Boston.

FOR SALE DETAILS

PRICE

$7,041,616 USD

PRICE/SF

$1,017 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,537 SF

ZONING

-

APN/PARCEL ID

WILM-000044-000000-000000-000178B

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

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