For Sale
$7,500,000

235 Main St Middleton, MA 01949

High-yield Walgreens, 10-year lease

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional Class A retail investment opportunity presents a 14,412 square foot Walgreens pharmacy, built in 2008, located at 235 S Main St, Middleton, MA 01949. Boasting a strong 6.6% cap rate and a substantial $500,000 NOI, this property offers a secure, long-term investment with a remaining lease term of 10 years, plus 50 years of additional options, extending to 2034. The property sits on a 112,761 square foot lot and is zoned M1. The asking price is $7,500,000, translating to a price per square foot of $520.40. This Walgreens benefits from a prime location in a high-traffic area, directly across from a Market Basket anchored plaza and near other prominent retailers including TJ Maxx, Bob's Stores, JoAnn Fabrics, Starbucks, and a Chase bank branch. The property's strategic placement within a thriving retail corridor, coupled with the presence of a recently built 99 Restaurant, ensures consistent high visibility and customer traffic. Middleton, MA, boasts a strong demographic profile, with a median household income of $166,215, supporting robust consumer spending. The Walgreens location is ranked highly in terms of customer visits, further underscoring its exceptional performance and potential for continued growth. This is an absolute NNN lease, offering a passive income stream with minimal landlord responsibilities. The property has a 100% occupancy rate since its opening in April 2009. This is a rare opportunity to acquire a high-performing, well-located Walgreens with significant long-term growth potential.

Highlights

  • 14,412 SF Walgreens pharmacy built in 2008, 100% occupied.
  • NNN lease expiring in 2034.
  • 29,000 vehicles per day (VPD).
  • Strong retail location near Market Basket, Chase, TJ Maxx, Starbucks, and Home Depot.
  • Median household income: $166,215.

Property Details for 235 Main St

Property type
Retail properties, Drug stores
Square Feet
14,412 SF
Class
A
Year Built
2008

Location Insight

City
Middleton
County
Essex
State
Massachusetts
Latitude
42.578429739063
Longitude
-70.999979876903

FAQs

What type of property is this?
Retail property - High-yield Walgreens, 10-year lease
Where is the retail property located?
The property is located at 235 Main St Middleton, MA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 14,412 SF Walgreens pharmacy built in 2008, 100% occupied.; NNN lease expiring in 2034.; 29,000 vehicles per day (VPD).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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235 Main St
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