354 Main St
Gloucester, MA 01930
North Shore
HIGHLIGHTS
- 15-YEAR ABSOLUTE-NET LEASE EXTENSION: The Lease Was Recently Extended By 15 Years In April 2025 Showing How Committed The Tenant Is To This Location.
- LEGACY LOCATION WITH LONG-TERM OPERATING HISTORY: The Property Has Continuously Operated As A Gas Station For Over 50 Years.
- 10% RENT ESCALATIONS EVERY 5 YEARS: Contractual Rent Escalations At 10% Every Five Years Provide Reliable Upside Income Through Term Renewal.
- COMPACT, WELL MAINTAINED ASSET | 700 SF BUILDING ON 16,529 SF LOT: The Property Includes A Small Building Footprint With Generous Land.
- BEST-IN-CLASS OPERATOR BACKED BY THE LARGEST GAS/CONVENIENCE STORE CHAIN IN THE WORLD: Speedway, LLC Is A Wholly Owned Subsidiary of 7-Eleven, Inc.
- RARE OPPORTUNITY TO ACQUIRE A 100% BONUS DEPRECIATION ELIGIBLE PROPERTY IN NEW ENGLAND: The Property Should be Subject to 100% Bonus Depreciation.
FOR SALE DETAILS
PRICE
$4,761,905 USD
PRICE/SF
$6,803 USD /SF
CAP RATE
5.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Speedway - Legacy Location
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
ADD'L SUBTYPES
Convenience Store, Service Station
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1976
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.38 AC
LAND SF
16,529 SF
ZONING
B1
APN/PARCEL ID
GLOU-000051-000057
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
617-865-1145
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
617-865-1145
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
