Sale Price $1,500,000
CAP Rate 5.5%

NOI $82,500 ($12.54/sf)

Building Size 6,579 square feet +/-

Land Size 0.57 acres

Lease Type NNN

Expenses None

Commencement August 1, 2010 (2nd option exercised &
commences August 1, 2017; original Rent
Commencement July 6, 2006)
Lease Expiration July 31, 2022
Lease Term Five (5) Years (+1 year remaining on 1st
option extension)
Options Two (2), Five (5) Years

Increases 2.5% Annually

• PRIME RETAIL LOCATION
Main Street location within Gloucester’s historic downtown district
— an easily walkable area with a concentration of specialty shops &
restaurants. Overlooking the famous harbor & waterfront near other
area attractions.
• SUCCESSFUL CREDIT TENANT
Citizens Financial Group, Inc. is one of the nation’s oldest & largest
financial institutions, with $147B in assets as of Sept. 30, 2016. They
operate 3,200 ATMs & approximately 1,200 Citizens Bank branches in
11 states in the New England, Mid-Atlantic & Midwest regions.
• QUALITY INVESTMENT
.IMG_3149
• ATTRACTIVE TRADE AREA
Located on Cape Ann, Gloucester is home to America’s original seaport
and serves as an important center of the fishing industry (one of the
busiest fishing ports on the Eastern seaboard). Gloucester is a popular
summer beach destination with increased population due to tourism. Short
drive or train ride northeast of Boston with easy access to Boston-Logan
International Airport (33M+ annual passengers in 2015).

617-239-3616

momara@atlanticretail.com