1441 Washington St, Hanover, MA 02339
3,500 SF | Retail Building | Hanover, MA 02339 | $4,000,000 ($1,143/SF) | 5% Cap Rate
For Sale
Active
Asking Price $4,000,000
- Property Type
-
Retail
- Square Feet
- 3,500 SF
- Price / Square Foot
- $1,143
Listing Contacts
Eric Suffoletto
Danny Griffin
Tom Hovey
Matt Austin
Property Overview
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Chase Bank in Hanover, Massachusetts. This newly constructed, 3,500 SF NNN offering has been occupied by Chase in their new prototype since it was developed in 2023. The property
sits as an outparcel to Hanover Crossing, one of the premier power centers serving the affluent suburban communities along Boston’s South Shore. Situated at 1441 Washington St, the property features unmatched visibility along Rt 53 (Hanover St) and outstanding co-tenancy, including one of New England’s highest performing grocery anchors, Market Basket. Chase executed a new 15-year ground
lease with rent commencing in October 2023. The lease includes four (4) five (5) year options with 10% rent escalations through the initial term and at the beginning of each option period. Chase is currently paying $200,000, and the offering provides investors an unmatched combination of new construction, premier tenancy, and passive long-term cash flow.
sits as an outparcel to Hanover Crossing, one of the premier power centers serving the affluent suburban communities along Boston’s South Shore. Situated at 1441 Washington St, the property features unmatched visibility along Rt 53 (Hanover St) and outstanding co-tenancy, including one of New England’s highest performing grocery anchors, Market Basket. Chase executed a new 15-year ground
lease with rent commencing in October 2023. The lease includes four (4) five (5) year options with 10% rent escalations through the initial term and at the beginning of each option period. Chase is currently paying $200,000, and the offering provides investors an unmatched combination of new construction, premier tenancy, and passive long-term cash flow.
Property Details
- Class
- C
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Bank
- Lot Size (sq. ft)
- 43,124 SF
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