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Next propertyPrevious propertyBack to the overviewSpringfield: Cape Rate 6,95% - Walgreens Store
Property ID: USCO17302729
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Basic information
Address:
US-01104 Springfield
Region:
Massachusetts
Space to rent ca.:
1.376.829 sq. m.
Price:
5.415.000 $
Type of object:
Supermarket
Year of construction:
2007
Details
Details
Subject to commission:
no
Further information
Further information
Property description:
Highlights
75-Year Absolute Net-Lease No Landlord Responsibilities
"A" Credit Rating
Immediately North of Mercy Medical Center - a 325-Bed Regional Hospital with Over 15,000 Admissions Each Year
Near Baystate Medical Center - a 659-Bed Hospital which Serves as the Western Campus of Tufts University School of Medicine
Densely Populated Area - Over 244,000 Residents Within a Five-Mile Radius
Description
The subject property is a Walgreens located in Springfield, Massachusetts. Walgreens has signed a 75-year absolute net-lease which commenced in January of 2007. The company, publicly traded on the NYSE under the ticker symbol WAG , has a current A credit rating by Standard & Poor's.
Located at the intersection of Carew Street and Armory Street, the subject property is immediately north of Mercy Medical Center, a 325-bed regional hospital with over 15,000 admissions each year. The property is also positioned near Baystate Medical Center, a 659-bed facility that serves as the western campus of Tufts University School of Medicine. Expected to be complete in 2012, Baystate Health' s Hospital of the Future will represent a $300 million private construction project that will add over 550 new doctors to the city. This densely populated area is home to over 244,000 residents within a five-mile radius of the property.
Springfield, Massachusetts represents both a wonderful place to live and work. As the largest city on the Connecticut River, Springfield represents the urban, economic, and cultural capital of the Pioneer Valley. Springfield is only 23 miles from the state capital of Hartford.
Financial Summary
Actual
Net Operating Income
$365,512.50
75-Year Absolute Net-Lease No Landlord Responsibilities
"A" Credit Rating
Immediately North of Mercy Medical Center - a 325-Bed Regional Hospital with Over 15,000 Admissions Each Year
Near Baystate Medical Center - a 659-Bed Hospital which Serves as the Western Campus of Tufts University School of Medicine
Densely Populated Area - Over 244,000 Residents Within a Five-Mile Radius
Description
The subject property is a Walgreens located in Springfield, Massachusetts. Walgreens has signed a 75-year absolute net-lease which commenced in January of 2007. The company, publicly traded on the NYSE under the ticker symbol WAG , has a current A credit rating by Standard & Poor's.
Located at the intersection of Carew Street and Armory Street, the subject property is immediately north of Mercy Medical Center, a 325-bed regional hospital with over 15,000 admissions each year. The property is also positioned near Baystate Medical Center, a 659-bed facility that serves as the western campus of Tufts University School of Medicine. Expected to be complete in 2012, Baystate Health' s Hospital of the Future will represent a $300 million private construction project that will add over 550 new doctors to the city. This densely populated area is home to over 244,000 residents within a five-mile radius of the property.
Springfield, Massachusetts represents both a wonderful place to live and work. As the largest city on the Connecticut River, Springfield represents the urban, economic, and cultural capital of the Pioneer Valley. Springfield is only 23 miles from the state capital of Hartford.
Financial Summary
Actual
Net Operating Income
$365,512.50
Furnishings:
Price: $5,415,000
Building Size: 14,820 SF
Price/SF: $365.38
Property Type: Retail
Property Sub-type: Free Standing Bldg
Additional Sub-types: Retail (Other)
Retail Pad
Anchor Property Use Type:
Net Lease Investment with 10+ years left on lease
Cap Rate: 6.75%
Tenancy: Single
Year Built: 2007
Lot Size: 1.82 AC
Building Size: 14,820 SF
Price/SF: $365.38
Property Type: Retail
Property Sub-type: Free Standing Bldg
Additional Sub-types: Retail (Other)
Retail Pad
Anchor Property Use Type:
Net Lease Investment with 10+ years left on lease
Cap Rate: 6.75%
Tenancy: Single
Year Built: 2007
Lot Size: 1.82 AC
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