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Dollar Tree (Walgreens Guarantee)

Marshfield, Massachusetts

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Dollar Tree located at 1914 Ocean Street in Marshfield, MA. This was a former Rite Aid site that was acquired by Walgreens as part of their acquisition of Rite Aid properties in specific markets. This site was remodeled in 2013 as a part of Rite Aid’s Wellness Program, and features an oversized 3.00-acre lot, a drive through, and convenient ingress/egress right off the main four-way, signalized intersection. The site was subsequently subleased to Dollar Tree as there is another existing Walgreens just down the road. This property offers a prime location in the main downtown shopping center for Marshfield and boasts an average household income of over $145,000! Aside from the strong location, the affluent surrounding community and low rent at this location, the property offers a wide range of retenanting options given the large lot, four-way signalized intersection, low rent, and drive through already on the site.

Location Overview

The subject investment property is situated on 1914 Ocean Street, Marshfield, MA. Ocean Street benefits from average daily traffic counts of 19,450 vehicles per day. The average income in a 3-mile radius is over $130,980 and $145,120 within a 5-mile radius. This Dollar Tree is positioned on Ocean Street in a retail corridor, consisting of local and national tenants, schools and hospitals. Major national tenants include: Lowe’s, Staples, Walgreens, CVS Pharmacy, Marshalls, Kohl’s, McDonald’s, Starbucks, Burger King, and many more. Several notable schools such as Marshfield High School, Furnace Brook Middle School, and Martinson Elementary School are located approximately 2-miles away and has over 2,880 students enrolled. Pembroke Hospital is within a close proximity of the subject property and is situated with 120 fully staffed beds. Marshfield is a town in Plymouth County, Massachusetts, United States, on Massachusetts's South Shore. Marshfield is located on the South Shore, about where Cape Cod Bay meets Massachusetts Bay. Marshfield is located roughly approximately 25-miles south of Boston, Massachusetts. Boston is Massachusetts’ capital and largest city. Founded in 1630, it’s one of the oldest cities in the U.S. The city proper covers 48 square miles with an estimated population of 694,583 in 2018, making it also the most populous city in New England. A global city, Boston is placed among the top 30 most economically powerful cities in the world. With a sturdy foundation of education and health care, and a jobless rate that is frequently below the national average, Boston's economy has been on solid ground for quite some time. Encompassing $363 billion, the Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world. Boston's colleges and universities exert a significant impact on the regional economy. Boston attracts more than 350,000 college students from around the world, who contribute more than US$4.8 billion annually to the city's economy. The city is considered highly innovative for a variety of reasons, including the presence of academia, access to venture capital, and the presence of many high-tech companies. The financial services industry is important to Boston, especially involving mutual funds and insurance. In the 2018 Global Financial Centres Index, Boston was ranked as having the thirteenth most competitive financial center in the world and the second most competitive in the United States. Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s and has made Boston one of the top financial centers in the United States. The city is home to the headquarters of Santander Bank, and Boston is a center for venture capital firms. State Street Corporation, which specializes in asset management and custody services, is based in the city.   Broker of Record: John Horowitz LIC: #1000303

Key Details

Price:
$3,885,829
Cap Rate:
7.00%
Annual Rent:
$272,008
Address:
1914 Ocean Street, Marshfield, Massachusetts 02050 United States
Lease Type:
Triple-Net (NNN)

Lot Size:
+/- 3.00
Building Size:
13,328 SF
Tenant:
Dollar Tree (Walgreens Guarantee)

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