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27-33 Enon Street Beverly, ...

Herrick Lutts Realty Facilitates Lease Of 6,066 SF Restaurant Space In Beverly, MA
LEASEDRetail

Herrick Lutts Realty Facilitates Lease Of 6,066 SF Restaurant Space In Beverly, MA

27-33 Enon Street Beverly, Massachusetts 01915, USA

Building Size

6,066 SF

Asset Type

Retail

Closing

Jun 28, 2023

AI

The lease of a 6,066 square foot restaurant space in Beverly, MA was recently facilitated by Herrick Lutts Realty Partners. The space, located at 27-33 Enon Street, was previously occupied by Bertucci's Italian Restaurant. The lease was secured between the owner, Winkel Properties, and the tenant, Beverly G LLC.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 27-33 Enon Street, Beverly, MA
  • Market: Beverly, MA
  • Square Footage: 6,066
  • Landlord: Winkel Properties
  • Tenant: Beverly G LLC
  • Brokers: Nick Zolotas & Rich Vincent - Herrick Lutts Realty Partners

Herrick Lutts Realty Partners played a crucial role in facilitating the lease transaction between Winkel Properties and Beverly G LLC. The deal allowed the tenant to secure a 6,066 square foot space for their restaurant in Beverly, MA.

Players

Nicholas Zolotas

Herrick Lutts Realty Partners

Broker

$93.1M

vol

33 deals

Broker

Boston Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93