subject property 481 Broadway (Rt. 1) Saugus, (Boston), MA 01906 Price: $815,000 Cap: 10.85% NOI: $88,500 Property is located on the highly traveled US Rt. 1 (New York Boston Post Rd.) with traffic counts of 120,000+ VPD Building is directly across from a Trader Joe s, PetSmart and La-Z-Boy anchored shopping center Other tenants in the immediate are include Target, Shaw s, Marshall s, Home Depot and Kohl s among others Property has excellent street frontage and visibility There are over 81,000 people in a three mile radius with an average household income over $84,500 Saugus is located approximately 13 miles north of Boston The property has excellent redevelopment potential
PROPERTY SUMMARY: This 3,200 sf building is leased to a franchisee and is situated on.46 acres of land. It is located directly across the street from Shops At Saugus, a recently developed (2008), 97,404 s/f shopping center anchored by Trader Joe s, PetSmart and La-Z-Boy. The property is located on Rt. 1 which has traffic counts of over 120,000 VPD. Other tenants in the immediate trade area include Target, Kohls, Marshals, Home Depot, Staples, Bed, Bath & Beyond, Shaw s, Dollar Tree, McDonald s, Burger King and KFC among others. Saugus is located approximately 13 miles north of Boston. U.S. Route 1 passes through town along a divided highway, with five exit ramps throughout town. This stretch of Route 1, though not a full controlled access highway (it is lined with a major shopping district, including the Square One Mall), is a major commuter route out of Boston, heading towards the intersection of Interstate 95 and Route 128 in Lynnfield. The route is also shared by a 3/4-mile long concurrency with Route 129, which passes through North Saugus before joining Route 1 to head northward into Lynnfield. The lease escalates in 2012 taking the cap rate to 10.47%. The property has excellent redevelopment potential and the landlord has the option to terminate the lease in the option period. There is a in place cross parking easement to allow for additional parking plus cross parking easement for more parking if needed for redevelopment. LEASE SUMMARY: Lease Commencement: 12/21/2009 Term 60 Months 5 Yrs Bld Size 3,200 Land Size 0.46 Acres Rent % Increase PSF Cap Rent (yr.) Yr 1 $ 76,500 23.91 Yr 2 $ 82,500 7.84% 25.78 9.00% Yr 3 $ 88,500 7.27% 27.66 9.65% Yr 4 $ 96,000 8.47% 30.00 10.47% Yr 5 $ 96,000 0.00% 30.00 10.47% Options* One (5) Yr Yr 6 $ 96,000 0.00% 30.00 10.47% Yr 7 $ 96,000 0.00% 30.00 10.47% Yr 8 $ 96,000 0.00% 30.00 10.47% Yr 9 $ 105,600 10.00% 33.00 11.52% Yr 10 $ 105,600 0.00% 33.00 11.52% Lease Type: This is a reimbursable triple net lease. Tenant maintains the premises and immediate surrounding area. Landlord pays taxes and is reimbursed fully. Tenant is responsible for insurance. Landlord has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the tenant. *Landlord has the option to give notice to tenant 90 days after receipt of tenants notice to exercise any option voiding such option in which event term shall not be extended. Saugus, MA List Price: $815,000 NOI: $88,500 Cap Rate: 10.85% Bld. Sq Ft: Acres:.46 Ownership: Assumable Financing: 3,200 sf Fee Simple None TENANT SUMMARY: Thirty Pines Properties, LLC (w/two personal guarantees) d/b/a
Aerial NORTH Eastern Bank Traffic Counts: 120,800 VPD
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1-3-5 Mile Demographic Data 1 Mile 3 Miles 5 Miles Population: 2009 Total Population 3,509 81,371 306,565 Male Population 48.2% 48.2% 48.3% Female Population 51.8% 51.8% 51.7% Median Age 46.2 42.8 41.1 Population Density (per sq. mi.) 1,113.8 2,869.8 3,892.3 Employees 3,240 39,047 119,304 Establishments 263 3,205 10,960 Income: 2009 Median HH Income $72,566 $72,760 $62,768 Per Capita Income $32,820 $32,500 $28,904 Average HH Income $86,076 $84,551 $73,439 Households: 2009 Total Households 1,296 31,129 118,652 Average Household Size 2.7 2.6 2.6 Household Growth 1990-2000 11.0% 5.9% 6.3% Housing: 2009 Owner Occupied Housing Units 84.4% 74.2% 60.9% Renter Occupied Housing Units 11.3% 21.4% 33.6% Vacant Housing Units 4.4% 4.5% 5.4% Race: 2009 White 91.0% 88.0% 79.3% Black 1.2% 2.1% 4.8% American Indian, Eskimo, Aleut 0.0% 0.1% 0.1% Asian 1.8% 3.2% 5.9% Hawaiian or Pacific Islander 0.1% 0.1% 0.1% Other 1.5% 2.7% 5.2% Multirace 4.3% 3.8% 4.6% Contact Us EXP Realty Advisors 118 East 28th Street Suite #901 New York, NY 10016 Phone: (212) 972-7457 Fax: (212) 686-0078 Our Team Robert P. James President Phone: (212) 972-7457 E-mail: rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) 972-7457 E-mail: dan@exp1031.com