LOCATION: Massachusetts

IMPROVEMENTS: Single story freestanding retail building completed and occupied June 1, 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 33,998+- SF of land improved with 13,993 SF of NRA, 100% leased to Walgreen Eastern Company, Inc., with a guaranty from Walgreen Co.

LEASE ABSTRACT: This is a typical Walgreen's lease.
TERM/RENT 20 year commencing June 1, 1996. / Monthly: $21,416.66
OPTION: Eight 5-year options with rent increases.
EXPENSES: All paid by tenant except roof and structural (Est. Capital Reserve: $2099)
FINANCING: Existing loan balance: $2,090,000 (10-15-99), 8.9%, 20 YEARS, $20,129.88/mo P&I 1% assumption fee. This financing cannot be prepaid. Yield maintenance after 10 years
DEBT SERVICE: 241,558.56
CASH AFTER DEBT: $ 13,342.36
OVERAGE PLATUEAU: 2% (all except food and prescriptions @ .05%). Applies after base rent reached
RENT INCREASES: $276,999.96 Years 21-40 $297,000.00 Years 41-60
PRICE: $2,913,000  

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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