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9 Maritime Drive
Mystic, CT 06355
Asking Price
$5.50M
Cap Rate
6.21%
Asset Type
Retail
Class
Class B
What's Special
Retail | 6.21% CAP | 13,000 SqFt <ul><li>No Connecticut stores impacted by West Marine's recent 59-store bankruptcy closures; Mystic location ranks second in sales volume statewide with traffic up 18.2% year-over-year, according to Placer.aiOriginal 10-year triple-net (NNN) lease with more than three years remaining on first option</li><li>Attractive annual 3% escalations including option periods through 2038</li><li>Two renewal options: periods of five (5) years, through 2038</li><li>Corporate tenant and corporate guaranty
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NOI
$80,000
Cap Rate
1.45%
DSCR
0.24
Underwater
Cash-on-Cash
-14.94%
Monthly Payment
$27,210.999
Annual Cash Flow
$-246,531.989