15 Main Street

Description

This freestanding Foodland property is leased on a fully net basis to Sobeys, with the tenant responsible for all maintenance, repair, replacement to the premises and operating costs including, without limitation, the roof membrane, roof deck and flashing, HVAC, non-load bearing walls and parking facilities; the landlord is responsible for a very narrow definition of structure as defined in the lease. Located on Main Street, the town's dominant commercial corridor, the property is the only full-service grocery store in Springhill and a key anchor for essential retail in the trade area. A Nova Scotia Liquor Corporation outlet, constructed by Sobeys at their cost and sublet to NSLC, further enhances the site's customer draw and demonstrates the tenant's long-term commitment to the location. With below-market rents, below-replacement-cost pricing, and a national covenant, the asset provides investors with secure income and strong fundamentals in a stable market.