Friendly's 18 Pearson Blvd 4,186 SF Retail Building Gardner, MA 01440 $2,913,914 CAD ($696.11 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Operating History of Roughly 35 Years!
- Corporately Guaranteed by Friendly’s Parent Company Amici Partners Group
- New 17 Year Absolute Triple Net (NNN) Lease with Roughly 14 Years Remaining
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Friendly’s located at 18 Pearson Boulevard in Gardner, MA. The site consists of roughly 3,634 rentable square feet of building space on estimated 0.90-acre parcel of land. The Friendly’s is subject to an absolute triple-net (NNN) lease, which has roughly 14 years of lease term remaining. The annual rent is $141,770 and is set to increase by two percent (2%) annually throughout the remainder of the lease term and in the four (4), five (5)-year tenant renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,186 SF
Building Class
C
Year Built
1986
Price
$2,913,914 CAD
Price Per SF
$696.11 CAD
Cap Rate
7%
NOI
$204,003 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.92 AC
Parking
51 Spaces (12.18 Spaces per 1,000 SF Leased)
Frontage
152’ on Pearson Blvd
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | GARD-000017R-000004-000014A | Improvements Assessment | $573,059 CAD |
| Land Assessment | $240,500 CAD | Total Assessment | $813,559 CAD |
