1A Newbury St Peabody, MA 01960
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Ithaki Mediterranean Restaurant / Restaurant
- Ithaki Cuisine Restaurant / Restaurant
Property Details for 1A Newbury St
- Year built
- 2024
- Lot size
- 0.70 lot acres
- Property size
- 2,400 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a newly constructed, Class A retail property in Peabody, MA, featuring a Starbucks and 10 Tesla Supercharger stations. The property boasts a 2,400 square foot building on a 0.7-acre lot with 15 parking spaces. A new 10-year net lease with Starbucks commenced September 30, 2024, and includes four, five-year options with a 10% rent increase every five years. The lease is backed by a corporate guarantee. Additionally, a separate 10-year lease with Tesla for the Supercharger stations provides supplemental income, also with a corporate guarantee and 3% annual rent increases. The property enjoys a prime location at the intersection of Route 1 (100,000 vehicles per day) and I-95 (124,500 vehicles per day), ensuring high visibility and substantial foot traffic. The current annual net operating income (NOI) is $230,000, resulting in a 5.60% capitalization rate. This single-tenant, stabilized investment offers minimal landlord responsibilities (roof and structure), providing a secure and lucrative passive income stream from two investment-grade tenants. The property is situated in a thriving retail hub, close to major retailers and office parks, further enhancing its value and potential for future growth. The building was constructed in 2024 and is 100% occupied. This is a 1031 exchange eligible property.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Peabody
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9986
- Latitude
- 42.52
