WALGREEN FOR SALE


EXECUTIVE SUMMARY

LOCATION: Rhode Island

IMPROVEMENTS: Single story freestanding retail building completed and occupied December 28,1996. Constructed of masonry concrete block over structural steel frame, with a Carlisle glass storefront and decorative brick facade on the remaining three sides.. Property consists of 44,866+- SF of land improved with 13,005 sf of NRA, 100% leased to Walgreen Eastern Company, Inc., with a guaranty from Walgreen Co.

LEASE ABSTRACT:

TERM: 20 year commencing December 28,1996.
OPTION: Eight 5 year options

EXPENSES: All paid by tenant except roof and structural (Est cap Reserve: $2086)

FINANCING: Existing loan: $2,376,146 (6/1/98), 8.49%, 20 YEARS, $21,428.65/mo p&i. 1% assumption fee.

NET OPERATING INCOME: $267,914.25 (before capital reserve)

DEBT SERVICE: $257,143.80

CASH AFTER DEBT: $10,770.45

OVERAGE PLATUEAU: 2% all except food and prescriptions @ .05%.

PRICE: $3,061,877 CASH TO MORTGAGE: $685,731

Contact Information

John M. "Jack" Peckham III CCIM, CIPS, RECS
Peckham Boston Advisors
(Founded 1963 - Our 47th Year)
Four Longfellow Place, Suite 2003
Boston, MA 02114
Phone 617 523 4441 Ext. 6

Email: info@REOtoCash.com
Web: www.REOtoCash.com

All information is from sources we deem reliable and is submitted subject to errors, omissions, prior sale, lease, withdrawal without notice, or change in price and conditions. While we do not doubt it's accuracy, no representation thereof is made.

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