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1 Newbury St Peabody, MA 01960

For Sale
$4,100,000

Newly constructed Starbucks with Tesla chargers on Route 1.

Property size:
2,400 SF
Lot size:
5.77 Acres

Property Features for 1 Newbury St

General Information

Size
2,400 SF
Lot size
5.77 Acres

Source: Atlantic Retail - Corporate Agent Eric Suffoletto

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

New Starbucks with Tesla Chargers

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.
Insight Report Location Intelligence

Current Use by Public Records

Avis Car Rental Car Rental Agency Budget Car Rental Car Rental Agency Commonwealth Telephone Co ... Real Estate Agency Health Care Recruiters Employment Agency Systems Group Sentenia Software Company

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Edible Arrangements

Location Insight

  • Map
  • Local Demand
City
Peabody
County
Essex
State
Massachusetts
Longitude
-70.9977919
Latitude
42.5190116

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.
More about this property
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