PECKHAM BOSTON ADVISORS
FOUR LONGFELLOW PLACE, SUITE 2003
BOSTON, MA. 02114
TELEPHONE: 617-523-4440 FAX: 617 523 4736
E-mail: bostonjack@earthlink.net
WORLDWIDEWEB OFFICE: http://www.inetworks.com/revest/
EXECUTIVE SUMMARY
LOCATION: Rhode Island
IMPROVEMENTS: Single story freestanding retail building completed and occupied October 1,1997. Constructed of masonry concrete block over structural steel frame, with a Carlisle glass storefront and decorative brick facade on the remaining three sides. 100% leased to Walgreen Eastern Company, Inc., with a guaranty from Walgreen Co.
LEASE ABSTRACT:
TERM: 20 year commencing October 1, 1997.
OPTION: Eight 5 year options
EXPENSES: All paid by tenant except roof and structural (Est cap Reserve: ($2100)
RENT: $25,416.66 per month
NET OPERATING INCOME: $305,000 (before capital reserve)
FINANCING: Existing loan: $2,495,000, 8.75%, 20 YEARS, $20,621.42 /mo p&i. 1%
assumption fee.
OVERAGE PLATUEAU: 2% all except food and prescriptions @ .05%.
PRICE: $3,588,000
CASH TO MORTGAGE: $1,093,000
Contact:
John M. Peckham III
Telephone: 617 523 4440
Information contained herein is from sources deemed reliable, however no representation s are warranted. Offering is subject to change in price or withdrawal without notice.
This information has been received from sources deemed reliable but is presented subject to errors and omissions and withdrawal without notice.