Address: 19 Forest Street, Marlborough, Massachusetts, United States 01752
Type: Net Leased Child Care
Cap Rate: 6.50%
Lease Type: Triple-Net (NNN)
Annual Rent: $617,431
Net Operating Income: $617,431
Lease Term Remaining: 20 Years
Options: Three (3), Five (5)-Year Options
Year Built: 2018
Rentable Sq/Ft: 644 SF
Rent Sq/Ft: $958.74
Price Sq/Ft: $14750
Lot Size: +/- 13042
This investment property is situated along Forest Street, which is just off interstate-495. Interstate-495 brings 116,760 vehicles into the immediate area everyday. This investment property benefits from being located in a highly populated area. There are more than 92,300 people residing within a five-mile radius of this property and more than 324,500 reside within a ten-mile radius. Furthermore, these figures are projected to increase in the coming years. This investment property is located in a very affluent area, the average income within a ten-mile radius of this property is greater than$136,700, nearly triple the national average.
The Guidepost Montessori School benefits from being well-positioned near a large amount of housing communities and new developments. These communities and new developments have made it easy for major corporations to call Marlborough home. GE Healthcare and Whole Foods have corporate offices within walking distance of this property. Furthermore this investment property is in close proximity to a highly dense retail corridor consisting of national and local tenants, shopping centers, and hospitality accommodations. Major national tenants include: Target, Macy’s, Sears, J.C. Penny, McDonald’s, Office Max, and many more. There are several hospitality accommodations within the immediate area, including: Hilton Garden Inn, Holiday Inn, Residence Inn, Best Western, Embassy Suites, Hampton Inn & Suites, and Courtyard Inn & Suites.
Centrally located near the intersection of Routes 495, 290, 20 and the Massachusetts Turnpike, Marlborough is known for its strong public schools, thriving and diverse community, and economic opportunity for all. Marlborough still retains the tree-covered ridges and idyllic ponds from its early days as a Native American and Colonial settlement and has numerous conservation lands and trails for residents and visitors to explore. Home to the New England Sports Center, the largest skating rink complex in North America, and Fore Kicks, Marlborough has amenities for all families. Today, leading companies such as Boston Scientific, GE Healthcare Life Sciences, and Hologic call Marlborough home. TJX, Dow Chemical, IPG Photonics, Quest Diagnostics, and Whole Foods, among others, combine to have thousands of employees in Marlborough, providing ample economic opportunities for Marlborough residents. Marlborough residents also have access to leading elementary and secondary schools. Marlborough Public Schools features a nationally recognized STEM program and is known for its arts programming. The Advanced Math and Science Academy (AMSA) is one of the highest-ranking high schools in Massachusetts and Assabet Valley Regional Technical Vocational School provides a vocational track for students.
Broker of Record: John Horowitz License #1000303