508-862-9000
222 West Main Street, Hyannis, MA
advisors@comrealty.net

615 Main St, Unit 13, Hyannis, MA: Retail Condominium Net Leased Investment Property

615 Main St, Hyannis, MA 02601, USA

SOLD!

615 Main St, Unit 13, Hyannis, MA: 3,024+/- Gross Sq. Ft. Retail Condominium Net Leased Investment Property

This net leased investment property for sale is home to the only Harley-Davidson retail store on the Mid to Lower Cape Cod. It has a Triple-Net (NNN) lease in place with minimal landlord responsibilities. High pedestrian and auto traffic counts. Excellent site access and visibility.

Investment highlights

Triple-Net (NNN) Lease – A tenant taking a Triple Net (NNN) lease is responsible to pay for all insurance, taxes, and Common Area. Maintenance for the property. with the landlord responsible to maintain the roof and structure, This makes the property a rather “passive” investment.

Built in Rental Increases / Options – Consistent rental increases annually. Tenant has two (2) five (5) year options beyond the expiration of the current five year term (expires April 30, 2024).

High Traffic Counts with Excellent Site Access & Visibility – The property has a highly visible location on Main Street in Hyannis which has over 11,622 vehicles passing per day and 15,292 in the summer months, the main street in Downtown Hyannis. The property is easily accessible from Main Street and Sea Street with several parking lots nearby with ample parking for added customer convenience.

Above Average Household Income – The average household income within a 5 mile radius of the property is over $110,000 which is well above the national average.

Experienced Operator – The franchisee Steel Horse Motorcycles has a successful track record of operating Harley Davidson dealership’s and currently operates Yankee Harley-Davidson in Bristol, CT.

Long Tenant Operating History – This Harley retail store originally opened in this site in 2008 and has been in business selling motorcycle retail apparel to locals and Cape Cod Visitors alike for thirteen years.

Commercial real estate description

Property Type: Retail Condominium for Sale – SOLD!
CAP Rate: 6
Total Sq. Ft.: 3,024+/- Gross Sq. Ft.
Price: $531,000