Santander Bank NNN
For Sale
Contact for pricing
13 N Main St, Bellingham, MA 02019
Corporate-backed bank tenancy with extended lease term and contractual rent increases.
Property SizeContact for details
Days on Market144
Property Features for 13 N Main St
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Seth Richard · License #NY 10401275108
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 31 at 12:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This NNN property is occupied by Santander Bank under a corporate-guaranteed lease with an initial 20-year term and a recently exercised six-year extension. The lease includes five additional five-year options, with a 10% increase at the beginning of the first option and 5% increases every five years thereafter. Santander Bank is rated A- by S&P.
The tenant is responsible for taxes, insurance, CAM, utilities, and a contribution toward roof and structural replacement. A one-time roof replacement option allows the tenant to fund 40% of the cost while the landlord covers 60%. The bank has operated at this location for more than 20 years.
The property is positioned on North Main Street in Bellingham, with reported daily traffic exceeding 12,000 vehicles. The surrounding five-mile area includes 80,976 residents and average household income of $122,000, along with retailers including Walgreens, Dunkin’, Subway, and Domino’s.
The tenant is responsible for taxes, insurance, CAM, utilities, and a contribution toward roof and structural replacement. A one-time roof replacement option allows the tenant to fund 40% of the cost while the landlord covers 60%. The bank has operated at this location for more than 20 years.
The property is positioned on North Main Street in Bellingham, with reported daily traffic exceeding 12,000 vehicles. The surrounding five-mile area includes 80,976 residents and average household income of $122,000, along with retailers including Walgreens, Dunkin’, Subway, and Domino’s.
Key Highlights
- Santander Bank corporate guarantee with an S&P A- rating
- 20‑year initial lease and recently exercised six‑year extension
- Five five‑year options with 10% and 5% contractual increases
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Shell
Shops & Services
4,598 visits/mo
0.1 miles
Honey Dew Donuts
Dining
3,056 visits/mo
0.1 miles
Santander Bank
Shops & Services
412 visits/mo
0.0 miles
Demographics for 02019, MA
16,945
Population
6,555
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
18.3 sq mi
ZIP Area
926
Density / Sq Mi
$120,966
Median Household Income
$61,453
Median Earnings
$1,788
Median Rent
$425,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate-backed bank tenancy with extended lease term and contractual rent increases.
Where is this nnn property located?
The property is located at 13 N Main St Bellingham, MA.
What are key features of this property?
This property features: Santander Bank corporate guarantee with an S&P A- rating; 20‑year initial lease and recently exercised six‑year extension; Five five‑year options with 10% and 5% contractual increases
