Commercial Real Estate Frontline

As of yesterday, a signed proposal between an area tenant and the owner of 209-211 Main Street North Reading, MA was executed to lease the site for an initial 20 year term. The tenant would occupy all of 209 Main Street and the entire first floor of 211 Main Street (except one bay currently tenanted).\n\nThe information on the property is listed here: 209-211 Main Street.\nThis agreement will create a year 1 Net Operating Income of approximately $72,000. The asking price is $575,000. The going-in CAP rate will be 13%.\n\n\nNo changes to the property would be necessary except for the installation of new septic.\n\nIf you are interested in learning more about this opportunity, please visit the MANSARD Commercial Properties Company Website and then direct any questions to Jeremy@Mansardcre.com. The buyer will be responsible for payment of leasing fee at closing.\n\nAbout the Author:Jeremy Cyrier is a principal with MANSARD Commercial Properties and member of the CCIM Institute faculty. He offers advisory services and brokerage expertise to commercial real estate owners and tenants.\nSign up for free CREFrontline updates, if you haven’t already. It’s free and has absolutely no obligations.\n