Listed by SURMOUNT
$8,620,000
Walgreens (Subleased to Emerson Hospital)
Details
Property Type Office, Retail
Sub Type Medical Office, Pharmacy/Drug
Square Footage 20,992
Cap Rate 7.25%
NOI $625,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens, Walgreens (Subleased to Emerson Hospital)
Lease Type NNN
Lease Term 25.1
Lease Expiration 10/31/2034
Remaining Term 8.3
Price per SqFt $411
Year Built 2009
Acreage 0.630
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/12/2009
Ground Lease No
Ownership Fee Simple
Office | 7.25% CAP | 20,992 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Walgreens (Subleased to Emerson Hospital) located at 21 Main Street, Maynard, MA 01754. The site consists of roughly 20,992 rentable square feet of building space on an estimated .63-acre parcel of land. Walgreens (Subleased to Emerson Hospital) is subject to a 25-year Triple Net (NNN) lease, which commenced 10/12/2009.
Investment highlights
- Long-Term Absolute NNN Lease | Built in 2009 and leased to Walgreens under an absolute NNN lease with approximately 8.6 years of term remaining. The ground-floor suite, comprising 9,861 square feet, is subleased to Emerson Hospital, which operates an internal medicine practice at the site, with a sublease term running concurrent with the master Walgreens lease.
- Top-Ranked Community | Healthcare System Emerson Health is nationally recognized for clinical excellence, consistently ranking among the top community hospitals in the U.S.
- Strategic Downtown Location | Positioned along Main Street in the heart of Maynard’s retail corridor, benefiting from strong visibility and proximity to local businesses.
- Stable Population & Household Base | Serving over 72,800 residents and 28,000 households within 5 miles, providing a consistent and reliable customer base for long-term retail demand.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$625,000.00
$52,083.33/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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