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: 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:
TERM: 20 year commencing June 1, 1996.
OPTION: Eight 5 year options
EXPENSES: All paid by tenant except roof and structural (Est cap Reserve: $2099)
FINANCING: Existing loan: $2,162,250 96/1/98), 8.9%, 20 YEARS, $20,129.88/mo p&i. 1% assumption fee.
NET OPERATING INCOME: $254,900.97* (before capital reserve)
DEBT SERVICE: $241,558.56
CASH AFTER DEBT: $13,342.41
OVERAGE PLATUEAU: 2% all except food and prescriptions @ .05%.
RENT INCREASES: $276,999.96 Years 21-40 $297,000.00 Years 41-60
PRICE: $2,913,153 CASH TO MORTGAGE: $750,903
Contact: John M. Peckham III 617 523 4440
Information contained herein is from sources deemed reliable, however no representations 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.