For Sale
$10,335,000

281 Daniel Webster HwyNashua, NH 03060

High-Yield NH Shopping Center

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 27,403 square foot shopping center in Nashua, New Hampshire, presents a compelling investment opportunity. Located at 281 Daniel Webster Hwy, this property boasts a prime location within a thriving retail corridor, situated on a sizable 2.22-acre lot at a signalized intersection ensuring excellent accessibility. The center is fully occupied (100%) by two corporate tenants: Planet Fitness and DXL, both operating under recently extended, double-net (NN) leases with a weighted average lease term remaining of 8.65 years. The strong tenant mix, featuring a health and fitness center and a clothing retailer, provides stability and diversification. Built in 1998 and renovated in 2023, the property offers 27,403 square feet of space, currently generating a Net Operating Income (NOI) of $656,264, representing a 6.35% cap rate at an asking price of $10,335,000 ($377.15 per square foot). The leases include attractive rental increase structures, with Planet Fitness experiencing a 10% increase every five years and DXL a 6% increase in 2025, followed by fair market value adjustments in subsequent options. The corporate guarantees provided by both tenants further enhance the security of this investment. This is a rare opportunity to acquire a high-performing, well-located retail property with significant long-term growth potential. The property is situated in Hillsborough County, NH, zip code 03060.

Highlights

  • Two-tenant retail shopping center occupied by Planet Fitness and DXL.
  • Both tenants are corporate entities; Planet Fitness tenancy is particularly rare.
  • Prime location in Nashua, NH's Daniel Webster Highway retail corridor.
  • Weighted average lease term remaining: 8.65 years.
  • Large 2.22-acre lot at a signalized intersection.
  • Excellent accessibility due to signalized intersection location.

Property Details for 281 Daniel Webster Hwy

Property type
Lifestyle centers, Power centers
Square Feet
27,403 SF
Year Built/Renovated
1998/2023
Lot Size (sq. ft)
96,703 SF

Location Insight

City
Nashua
County
Hillsborough
State
New Hampshire
Latitude
42.7048546
Longitude
-71.4434281
281 Daniel Webster Hwy, Nashua, New Hampshire

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281 Daniel Webster Hwy
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