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Chili's 2885 Cranberry Hwy

5,780 SF Retail Building East Wareham, MA 02538 £1,097,095 (£190/SF) 6.15% Net Initial Yield

Investment Highlights

  • Long Term Site Commitment
  • Scheduled Rent Increases
  • Strategic Retail Location
  • Zero Landlord Responsibilities
  • Corporate Guarantee
  • Strong Demographics

Executive Summary

Horvath & Tremblay is pleased to present the opportunity to purchase a Chili’s Grill & Bar (“Chili’s) Ground Lease located at 2885 Cranberry Highway in East Wareham, Massachusetts (the “Property”). Chili’s has been at this location since 2004 and just executed their third of four 5-year lease extensions, demonstrating their commitment to the site and the market. The Ground Lease has 4+ years remaining with one (1), 5-year renewal option. Chili’s is situated on a pad site to Cranberry Plaza, a Stop & Shop-anchored retail center on US Route 6 just outside of Cape Cod and a short drive from the junction of Interstates 495 and 195. Located along one of the primary routes to get into Cape Cod, the Property is surrounded by numerous businesses and retailers (Stop & Shop, Home Depot, Tractor Supply, CVS, Ocean State Job Lot, Dollar Tree, Planet Fitness, AutoZone, McDonald’s, Taco Bell/KFC, Burger King, KFC, Eastern Bank, Rockland Trust Bank, and Midas) attracting consumers to the area.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,780 SF
Building Class
C
Year Built
2003
Price
£1,097,095
Price Per SF
£190
Net Initial Yield
6.15%
NOI
£67,471
Tenancy
Single
Number of Floors
1
Building FAR
0.03
Land Acres
3.99 AC
Zoning
C - Commercial
Parking
63 Spaces
Frontage
79 ft on Cranberry Highway

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
WARE-000015-000000-001051
Land Assessment
£230,920
Improvements Assessment
£643,779
Total Assessment
£874,699
  • Listing ID: 33445349

  • Date on Market: 08/10/2024

  • Last Updated:

  • Address: 2885 Cranberry Hwy, East Wareham, MA 02538

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