50 Central Ave - Freestanding FOR SALE


Lynn, MA 01901- Downtown Lynn
$2,428,000 USD
508-272-0585
50 Central Ave, Lynn, MA for Sale
$2,428,000 USD
Freestanding - FOR SALE
1/5
null | 7.25% Cap Rate

50 Central Ave
Lynn, MA 01901
Downtown Lynn


OVERVIEW

Atlantic Capital Partners is pleased to offer a freestanding Family Dollar located at 50 Central Avenue in Lynn, Massachusetts. Built in 2014, the 9,180 SF property is operated under a double net lease, with landlord responsibilities limited to roof and structure. The tenant has already exercised its first renewal option, extending the lease through March 2029, showing their commitment to this location. The property currently generates an annual rent of $176,000. Positioned in a dense urban trade area just 10 miles north of Boston, the property benefits from strong demographics with more than 105,000 residents within a five-mile radius. With traffic counts of nearly 20,000 vehicles per day and scheduled rent growth of 10% at each five-year option period, the asset offers investors a stable, long-term cash flow opportunity in a high-barrier Greater Boston market, while also providing attractive future redevelopment potential for higher and better use.

FOR SALE DETAILS

PRICE

$2,428,000 USD

PRICE/SF

$263 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

CBD

APN/PARCEL ID

LYNN-000068-000631-000006

ASK ABOUT THIS PROPERTY

Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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