For Sale
Call for price

550 Amherst StNashua, NH 03063

High-Yield, Net-Leased Retail Portfolio

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a 48,342 square foot, 100% occupied, net-leased shopping center in Nashua, New Hampshire. The property boasts a diverse tenant mix including Walgreens, PetSmart, Charles Schwab, Crumbl Cookies, Clean Juice, and California Burritos, among others, totaling ten tenants. PetSmart recently extended its lease, demonstrating strong tenant commitment. The center features three buildings situated on a 5.4-acre lot and was constructed in 2006. The property benefits from a strategic location on Amherst Street (Route 101A), experiencing high daily traffic counts exceeding 38,900 vehicles. Its shadow anchor, Target, contributes to significant foot traffic, estimated at 1.5 million annual visits. Nashua's robust retail market, with a low 3.1% vacancy rate and no new construction, ensures sustained value. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $1,100,633, with a remaining lease term of 8.1 years. All strip tenants have built-in annual rent increases or market reset options, resulting in a compound annual growth rate approaching 2.94%. The unanchored portion of the center (12,842 square feet) has seen significant leasing activity since 2021, with 7,242 square feet of new leases. This property offers a compelling combination of strong tenancy, high traffic counts, and a favorable market position, making it an ideal investment for discerning buyers. The property is situated on three separate tax parcels, providing flexibility for potential acquisition strategies.

Highlights

  • 48,342 SF, 100% leased, pharmacy-anchored strip center in Nashua, NH.
  • Walgreens and PetSmart anchored, with PetSmart's lease recently extended to 2036.
  • 12,842 SF of unanchored space with 7,242 SF leased since 2021.
  • Tenants have contractual rent increases or market reset options, resulting in a CAGR approaching 2.94%.
  • Shadow-anchored by Target, situated on a high-traffic road (38,900 vehicles/day) in a strong retail market with low vacancy (3.1%).

Property Details for 550 Amherst St

Property type
Lifestyle centers, Power centers
Square Feet
48,342 SF
Year Built
2006
Buildings
3
Lot Size (sq. ft)
235,224 SF

Location Insight

City
Nashua
County
Hillsborough
State
New Hampshire
Latitude
42.7982086
Longitude
-71.5333547
550 Amherst St, Nashua, New Hampshire

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550 Amherst St
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