203 Lowell St Wilmington, MA 01887-2941

Property Details for 203 Lowell St

Lot size

4.64 lot acres

Property type

Industrial land

APN

WILM M:0048 L:0000 P:0073

APU

WILMM0048L0000P0073

Description

This exceptional investment opportunity presents a brand-new, 2,448-square-foot Starbucks located at 203 Lowell St, Wilmington, MA 01887. Built in 2024, this Class A, single-tenant property boasts a modern prototype design, including a drive-thru, and is situated on a highly visible corner lot. The property benefits from a 10-year net lease (NN) with a credit-rated, corporate-guaranteed tenant, Starbucks (S&P: BBB+), ensuring minimal landlord responsibilities limited to roof, structure, and common areas. The lease commenced on December 31, 2024, and expires February 27, 2035, offering a substantial remaining lease term of 10 years. Attractive rental increases of 10% are built into the lease every five years, including four 5-year options, providing significant long-term growth potential. The property includes 20 parking spaces and is strategically located near I-93, a major Boston highway with over 170,000 vehicles per day, drawing from a robust, affluent trade area with a 5-mile population exceeding 174,000 and an average household income of over $165,000. The asking price is $3,050,000, representing a 6.00% cap rate and a net operating income (NOI) of $183,000. This is a stabilized, core+ investment ideal for 1031 exchange opportunities. The property is privately owned and features a single unit.