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Stop & Shop

Andover, Massachusetts

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Marcus & Millichap is pleased to present the exclusive listing for the Stop & Shop plaza located at 209 North Main Street in Andover, MA. The property consists of a shopping center with 17+ tenants anchored by Stop & Shop and Planet Fitness, however there is only one underlying master lease with Stop & Shop. The premises consists of approximately 102,060 square feet of building space and is situated on approximately 17.30 acres of land.
The property is subject to an original 25-year triple net (NNN) single tenant master lease that has approximately 16 years remaining. The rent is set to increase in November of 2021 to $2,940,000 and will continue to increase by 5% every five years throughout the primary term and increases every five years during the two, ten-year options and eight, five-year option periods.

Key Details

Price:
$61,895,000
Cap Rate:
4.75%
Annual Rent:
$2,940,000
Address:
209 North Main Street, Andover, Massachusetts 01810
Lease Type:
Triple Net (NNN) Master Lease

Original Lease Term:
25 Years
Lease Commencement:
November 1, 2011
Lease Expiration:
November 30, 2036
Lease Term Remaining:
16 Years
Rental Increases:
5.0% Every Five Years
Lot Size:
17.30 Acres
Building Size:
102,060 SF
Year Built:
1959
Tenant:
Stop & Shop

Broker of record

John Horowitz

License: 1000303


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