Friendly's
Gardner, MA
Key Details
| Price: | $2,025,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $141,770 |
| Address: | 18 Pearson Boulevard, Gardner, Massachusetts 01440 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 16 Years |
|---|---|
| Lease Commencement: | 10/15/2021 |
| Lease Expiration: | 12/31/2037 |
| Lease Term Remaining: | 13 Years |
| Rental Increases: | 2.00% Annually Starting Year 7 |
| Lot Size: | 0.90 Acres |
| Building Size: | 3,634 SF |
| Year Built: | 1986 |
NNN Pro is pleased to present the exclusive listing for a Friendly's located at 18 Pearson Boulevard, Gardner, Massachusetts 01440. The site consists of roughly 3634 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Friendly's is subject to a 16-year Triple Net (NNN) lease, which commenced 10/15/2021. The current annual rent is $141,770 and has scheduled increases of 2.00% Annually Starting Year 7.
About the Investment
- Long Term Operating History of Roughly 35 Years!
- New 17 Year Absolute Triple Net (NNN) Lease with Roughly 13.5 Years Remaining
- Corporately Guaranteed by Friendly’s Parent Company Amici Partners Group
- Strong Rental Increases | Two Percent (2%) Annual Increases
- Four (4), Five (5)-Year Tenant Renewal Options
Key Details
| Price: | $2,025,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $141,770 |
| Address: | 18 Pearson Boulevard, Gardner, Massachusetts 01440 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 16 Years |
|---|---|
| Lease Commencement: | 10/15/2021 |
| Lease Expiration: | 12/31/2037 |
| Lease Term Remaining: | 13 Years |
| Rental Increases: | 2.00% Annually Starting Year 7 |
| Lot Size: | 0.90 Acres |
| Building Size: | 3,634 SF |
| Year Built: | 1986 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Broker of Record
Brian Brockman
Bang Realty-New England, Inc
License: 1000169
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.