For Sale
$3,950,000

1549 White Mountain HwyConway, NH 03860

High-traffic, Net-Leased Plaza in Conway, NH

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple, 6,197 square foot, two-tenant retail plaza in Conway, New Hampshire. The property, built in 2021, boasts a 100% occupancy rate with a Chipotle and an Aspen Dental as tenants. Both tenants are on net leases with corporate guarantees, minimizing landlord responsibilities. Chipotle's lease has over seven years remaining, with four five-year renewal options, while Aspen Dental's lease is a new ten-year agreement with three five-year renewal options. Rent bumps occur every five years, providing a hedge against inflation. The property sits on a 1.61-acre lot on the heavily trafficked White Mountain Highway (US Route 302/NH Route 16), adjacent to Settler's Green Outlet Village, ensuring high visibility and foot traffic. The property generates a strong net operating income (NOI) of $241,898, resulting in a 6.12% cap rate. The asking price is $3,950,000. The location benefits from strong demographics, with over 10,500 people within a five-mile radius and over 20,300 within ten miles, boasting average household incomes exceeding $89,000. Daily traffic counts on White Mountain Highway exceed 16,800 vehicles. Chipotle's modern design includes outdoor seating and a Chipotlane drive-thru, further enhancing its appeal and sales potential. This is a prime retail investment with recession-resistant tenants and significant upside potential.

Highlights

  • New construction, 6,197 SF, two-tenant retail plaza built in 2021, 100% occupied by Chipotle and Aspen Dental.
  • Chipotle lease: 7+ years remaining, four 5-year options; Aspen Dental lease: 10-year term, three 5-year options; both with 10% rent increases every five years.
  • Net leases with corporate guarantees minimize landlord responsibilities.
  • Chipotle features a modern design with outdoor seating and a Chipotlane drive-thru.
  • Prime retail location on heavily trafficked White Mountain Highway (US Route 302/NH Route 16), adjacent to Settler's Green Outlet Village.
  • Recession-resistant tenants; strong demographics with over 10,500 people within a 5-mile radius and over 20,300 within 10 miles, average household incomes exceeding $89,000.

Property Details for 1549 White Mountain Hwy

Property type
Lifestyle centers, Power centers
Square Feet
6,197 SF
Year Built
2021
Buildings
1
Stories
1
Lot Size (sq. ft)
70,132 SF
Units
2

Location Insight

City
Conway
County
Carroll
State
New Hampshire
Latitude
44.021438044915
Longitude
-71.116207357311
1549 White Mountain Hwy, Conway, New Hampshire

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1549 White Mountain Hwy
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