Listed by Matthews
$2,650,000
21 Memorial Drive
Details
Property Type Retail
Square Footage 15,258
NOI $160,325
Year Built 1936
Year Renovated 1985
Investment Type Owner/User
Ground Lease No
Below-Market Rents | Prime Waterfront Location | Flexible Tenancy Structure
Investment highlights
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- Below-Market Rental Rates Present Immediate Upside and Opportunity for NOI Growth
- Short-Term Lease Structure Provides Near-Term Flexibility to Reposition Rents or to negotiate long term leases
- Highly Desirable Location Adjacent to Plymouth Harbor with Strong Regional Draw and Waterfront Accessibility
- Waterfront Views Enhance Tenant Appeal and Support Long-Term Leasing Demand
- Underutilized Space Creates Opportunity for Reconfiguration, Expansion, or Increased Income Generation on 3rd floor
- Diversified Multi-Tenant Rent Roll Reduces Reliance on Any Single Occupant and Supports Income Stability
- Located Within an Affluent Demographic Base with Strong Consumer Spending Fundamentals
- Partial Seller Financing Available with substantial down payment Providing Enhanced Acquisition Flexibility for Qualified Buyers
- Restaurant Owner-User Opportunity with Potential SBA Financing Eligibility Due to Restaurant Occupying More Than 50% of the Building Area
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,325.00
$13,360.42/mo
Valuation Metrics
0
DSCR
6.05%
Cap Rate
6.05%
ROI
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