200 Pleasant St, Berlin, NH 03570

Commercial property for lease

• Description
• Rite Aid for Sale set to become Walgreens!!The subject property is comprised of two parcels in Berlin NH. One parcel is a corner lot located at the corner of Mason Street and Pleasant St with an address of 200 Pleasant Street in Berlin, NH. the second parcel is a parking lot used for additional parking. Current Tenant is Rite Aid. 7,520 +/- SF building and sits on .38 Acres of land. Approximately 18+/-parking spots. Current Lease extension period expires 1/31/19. Rite Aid just elected to renew the lease for an additional 5 years, showing their commitment to this site extending the lease until 1/31/2024. Additionally, this store is set to be assumed by Walgreens!! Rite Aid has (1) additional 5-year option period remaining.***Property is being valued based on the renewal rent of $106,800. The sellers are pledging the difference in the current rent from now-1/31/2019, when the renewal rent is set to begin.Rite Aid Rent Schedule:Current- 2/1/2014-1/31/2019 $84,000/Annually3rd Option **EXERCISED- 2/1/2019-1/31/2024 $96,600/Annually4th Option- 2/1/2024-1/31/2029 $111,090/AnnuallyThe second lot is located next to the Rite Aid parcel on Pleasant St. It is a vacant lot used for additional parking. This is a 0.13 AC lot which runs until 1/31/19 has been extended to 1/31/2024. There are 2 remaining options to extended this lease agreement for 5 year periods pushing this lease out until 2034, should all renewals be used.Parking Lot Rent Schedule:Current (2nd Option)- 2/1/2014- 1/31/2019 $9,000/Annually3rd Option- 2/1/2019- 1/31/2024 $10,200/Annually4th Option- 2/1/2024-1/31/2029 $11,300/Annually5th Option- 2/1/2029- 1/31/2034 $12,400/ AnnuallyTotal Lot Size between two parcel: 0.51 AC218 FT of Frontage on Pleasant Street130 FT of Frontage on Mason StreetBook/Page: 661/212Approximately 5,800 +/- cars a day! Building price details: $1,350,000.
• Contact info
• John Gendron

  Gendron Commercial Brokers of Boston
• Note

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