50 Independence Way - Department Store FOR SALE


Danvers, MA 01923- Danvers MA
$21,500,000 USD
617-865-1145
50 Independence Way, Danvers, MA for Sale
$21,500,000 USD
Department Store - FOR SALE
1/4
null | 7.25% Cap Rate

50 Independence Way
Danvers, MA 01923
Danvers MA


HIGHLIGHTS

  • Absolute Triple Net Lease with No Landlord Responsibilities
  • Located Within Liberty Tree Mall Retail District
  • Institutional-Quality National Anchor
  • Trophy Retail Corridor with High-Volume Traffic & Strong Demographics
  • Proven Operating History with Recent Lease Extension
  • Proximity to Northshore Mall

OVERVIEW

Surmount is pleased to present the exclusive listing for a Kohl's located at 50 Independence Way, Danvers, MA 01923. The site consists of roughly 100,434 rentable square feet of building space. Kohl’s is subject to an original 25-year fee simple condo lease which commenced in 2002 but was just recently extended by 10 years. The current annual rent is $1,557,750 and has scheduled increases of 10.00% In Options.

FOR SALE DETAILS

PRICE

$21,500,000 USD

PRICE/SF

$143 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kohl's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.91 AC

LAND SF

213,880 SF

ZONING

C3

APN/PARCEL ID

DANV-000063-000000-000005-000001-000001

ASK ABOUT THIS PROPERTY

Josh KanterSurmountMore Info
617-865-1145

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Josh KanterSurmountMore Info
617-865-1145

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