WALGREEN FOR SALE


EXECUTIVE SUMMARY

LOCATION: Rhode Island

IMPROVEMENTS: Single story freestanding retail building scheduled for completion est. September 1998 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 43,167+- SF of land improved with 13,500 sf of NRA, 100% leased to Walgreen Eastern Company, Inc., with a guaranty from Walgreen Co.

LEASE ABSTRACT:
TERM: 20 year commencing est. September 1998.
OPTION: Eight 5 year options
EXPENSES: All paid by tenant except roof and structural (Est cap Reserve: $2025)
RENT: $ 30,750 per month

NET OPERATING INCOME: $369,000 (before capital reserve)

FINANCING: $3,730,000, 7.80%, 20 YEARS, $30,455.88/mo p&I, 1% assumption fee.

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

PRICE: $4,194,000

CASH TO MORTGAGE: $464,000


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.

Return to Real Estate Investments On-Line
Return to The Peckham Boston Advisory Company