Here’s a neat little investment bargain if you just have a few dollars burning a hole in your pocket. It could be an interesting business if you also like to eat.
The Stop & Shop store at 1475-1479 Newman Avenue in Seekonk it’s for sale. The deal also includes a CVS store with a drive-thru window and a vacant 7,810-square-foot lettable unit “on a huge parcel” of land.
If you’ve ever wondered what it would cost to buy your own supermarket and pharmacy, the brokerage firm selling commercial real estate investment and capital markets advisory Marcus & Millichap lists the selling price as $17,550,376.
I guess owning your own marketplace could come in handy these days.
Marcus & Millichap said the Stop & Shop store is approximately 40,734 leasable square feet and has 16.7 years remaining on its lease with the current owner. The current annual rent is $264,771.
CVS occupies 12,900 leasable square feet and has a 25-year lease. She pays an annual rent of $550,000.
According to the agency’s website, the set sits on a 9.13-acre parcel of land.
It’s not every day that an opportunity to buy a supermarket, a pharmacy, a vacant storefront and a lot of land comes your way in one package.
I’m not too sure what the down payment on all of this would be or what the monthly mortgage payment might look like. One thing is certain: it’s more than I have in the bank. I guess I’ll leave it to you.