Active Life Adult Day Care
Retail | 8.00% CAP | 14,000 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the stand-alone ActiveLife Adult Day Care investment property located at 17 Darrin Road in Dracut, Massachusetts (the “Property”). ActiveLife Adult Day Care has 13 years remaining on their 20-year lease with two (2), 5-year renewal options. The lease includes attractive 3% rental increases every three years throughout the initial term and renewal option periods.
ActiveLife Adult Day Care is located along Darrin Road, just off Lakeview Avenue and seconds from the signalized intersection with Mammoth Road, the area’s primary commercial and commuter corridors. Positioned in the heart of Dracut, the site is convenient to the area’s retailers and restaurants and is surrounded by residential neighborhoods providing a built-in customer base. The Property is close to NH Routes 28, 113 and 38, and is approximately 5 miles from Northwest Expressway (US Highway 3) and Interstate 495. The Property also provides convenient access to Downtown Lowell, just 3.5 miles to the south.
Dracut is located in northeastern Massachusetts, approximately 3.5 miles from Lowell, 9 miles from Nashua, New Hampshire, and 30 miles to Downtown Boston, Massachusetts.
Investment highlights
LEASE TERM: ActiveLife Adult Day Care has been at this location since 2018 and has 13 years remaining on their lease with two (2), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The Lease calls for 3% rental increases every 3 years throughout the initial lease term and renewal option periods, providing an attractive increase in revenue and a hedge against inflation.
MINIMAL LANDLORD RESPONSIBILITIES: ActiveLife Adult Day Care reimburses for real estate taxes, and handles insurance, and common area maintenance directly, protecting against rising expenses. The Property was renovated in 2017.
STRATEGIC RETAIL LOCATION: ActiveLife Adult Day Care is strategically located adjacent to the intersection of Darrin Road and Lakeview Avenue. Positioned in the heart of Dracut, the Property is easily accessible from surrounding residential neighborhoods and the surrounding cities and towns. Lowell, just a few miles away, is one of largest cities in Massachusetts with a population in excess of 121,000 providing a built-in and captive customer base. Additionally, the Property is 3.3 miles from Lowell General Hospital and 4.4 miles from Massachusetts General Hospital (Lowell).
RECESSION & E-COMMERCE RESISTANT TENANT: With an aging baby boomer population, the social model of adult day services plays an important role in the long-term care ecosystem by focusing on social engagement, supervision, and functional support in a non-medical setting, offering both benefits to participants (reduced isolation, enhanced quality of life) and their caregivers (respite, enabling community living). There are more than 4,600 Adult Day Services centers across the U.S., a 35% increase since 2002 and more than 260,000 participants and family caregivers are serviced, an increase of over 100,000, or 63%, since 2002.
RETAIL TRADE AREA: Top retailers and lodging driving consumers to the trade area include Hannaford, Planet Fitness, CVS, Dracut Hardware, Dollar General, Family Dollar, O’Reilly Auto Parts, Pep Boys, Top Donut, Dunkin’, Lowell Five Bank, Santander Bank, 7-Eleven, and Speedway.
TRAFFIC COUNTS: Over 10,100 vehicles pass the Property daily along Lakeview Avenue and more than 17,900 vehicles pass through the nearby signalized intersection of Lakeview Avenue and Mammoth Road.
DEMOGRAPHICS: Over 64,300 people live within 3-miles of the Property with an average household income of $122,198. More than 178,600 people live within 5-miles of the Property with an average household income of $123,075.
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