220 Huttleston Ave Fairhaven, MA 02719-1958

Property Details for 220 Huttleston Ave

Year built

2003

Lot size

1.70 lot acres

Property size

15,051 SF

Zone code

B

Property type

Retail space

APN

FAIR M:00030A L:00092 S:

APU

FAIRM00030AL00092S

Description

This exceptional investment opportunity presents a fee-simple Walgreens located at 220 Huttleston Ave, Fairhaven, MA 02719. The property boasts 15,120 square feet on a 1.7-acre lot, offering ample parking. Built in 2002, this single-tenant retail building is currently 100% occupied under a triple-net (NNN) lease with a corporate guarantee from Walgreens, a company with $139 billion in revenue. The lease commenced September 19, 2002, and expires September 30, 2032, leaving 7.9 years remaining on the initial term, followed by eight five-year renewal options. The current annual net operating income (NOI) is $328,500, resulting in a 7.25% cap rate based on the asking price of $4,531,034. This property offers minimal landlord responsibilities and significant long-term income potential due to the strength of the tenant and the lease structure. The consistently high sales volume at this location further underscores its value as a stable and profitable investment. The property's size and location in Bristol County, Massachusetts, contribute to its overall appeal.

Location Insight

City

Fairhaven

County

Bristol

State

Massachusetts

Longitude

-70.8795

Latitude

41.6417

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments