SALE PRICE: $2,608,695
CAP RATE: 5.75%
- STRONG NATIONAL CREDIT TENANT — BJ’s Wholesale Club, Inc. is a private warehouse club with over 9 million members & 213 locations in the Eastern U.S. (approximately 125 with BJ’s Gas stations available to members, at a discounted rate, & non-members); 2015 revenue exceeded $12.5B.
- NEW 2016 CONSTRUCTION — Tenant constructed the building & all site improvements with BJ’s latest design & concept.
- HIGH BARRIERS TO ENTRY — BJ’s Wholesale Club is the only warehouse club on the island. Cape Cod is known for its lengthy rezoning & entitlement process due in part to numerous environmental codes. Updated regulations prohibit new gas station sites in the prime retail area. These barriers give the subject property a significant competitive edge over similar property types with all permits in place & a newly constructed gas station.
- BRAND NEW, LONG TERM GROUND LEASE — New approximately 20-year lease with rent increases throughout base term & 4 (5-year) options. Provides security & stability for the investor.
- ABSOLUTE NNN LEASE — No landlord responsibilities — tenant pays for taxes, insurance, CAM, roof & structure. Ideal 1031/1033 exchange.
- IDEAL LOCATION — Located along Rte. 132/Iyannough Rd. (28,400 ADT) close to Rte. 6 & Mid-Cape Hwy. and between Cape Cod Mall & Barnstable Municipal Airport. Cape Cod has 6M+ visitors each year, with population peaking in summer.
- CLOSE PROXIMITY TO NATIONAL TENANTS — Positioned near national credit tenants such as: Whole Foods, Macy’s, Best Buy, CVS, The Home Depot, Trader Joe’s and Barnes & Noble.
- FAVORABLE DEBT OPTIONS AVAILABLE — Property will be delivered without debt giving Buyer flexibility to keep it debt free or take advantage of favorable financing options.
- There are no features available