1 Newbury St Peabody, MA

Listing Agency Atlantic Retail - Corporate e***@atlanticretail.com Show Phone

Listed by Eric Suffoletto

Source Moodyscre

Added: Feb 7, 2025 Checked: Jul 19 at 4:00 am

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Investment Insights

Based on property information with market context.

This property features a newly constructed 2,400 square foot Starbucks prototype located on Route 1 in Peabody, Massachusetts. The building is subject to a new 10-year lease with Starbucks, with a projected opening date in Q4 2024. The Starbucks lease provides a year 1 net operating income of $200,000, with 10% rent escalations every 5 years throughout the term and at each option. The property also includes 10 Tesla supercharger spaces, leased on a new 10-year lease with 3% annual increases backed by a Tesla corporate guarantee, generating $30,000 in annual income. The current annual rent for the offering is $230,000, inclusive of the Tesla income. The property is located at the crossroads of Route 1, with a traffic volume of 100,000 vehicles per day, and I-95, with a traffic volume of 124,500 vehicles per day.

Key Highlights

• New construction Starbucks with a 10‑year lease and scheduled rent increases.
• High‑traffic location at the intersection of Route 1 and I‑95.
• Passive income from Starbucks and Tesla supercharger leases.

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FAQs

What type of property is this?

Coffee shop - Newly constructed Starbucks with Tesla chargers on Route 1.

Where is this coffee shop located?

The property is located at 1 Newbury St Peabody, MA.

What is the asking price?

The asking price for this property is $4,100,000.

What are key features of this property?

This property features: New construction Starbucks with a 10‑year lease and scheduled rent increases.; High‑traffic location at the intersection of Route 1 and I‑95.; Passive income from Starbucks and Tesla supercharger leases.