255 Newton Street – Waltham, MA
Value Story
A long-term associate needed a garage. We sourced this deal off-market, directly calling the owner after seeing a retirement sign. Closed with favorable seller-financing terms: below-market interest rate + longer amortization.
The tenant signed a 10-year NNN lease at $8,500/month—and purchased 19% equity in the deal, aligning interests and lowering turnover risk.
Key Strengths
✅ Triple Net Lease (NNN): $0 landlord expenses
✅ 10-Year Lease: With 3% annual rent escalations
✅ Tenant-Partner Model: Tenant owns 19% equity → strong retention incentive
✅ Seller Financing: 5.15% fixed vs. 6.75% market rate
✅ 30-Year Amortization: Lower monthly payments
✅ Immediate Occupancy: Zero vacancy at acquisition
✅ Strong Location: Borders Newton, affluent suburb with rising property values
Risk Mitigation
Tenant equity ownership = incentive to stay long term
Lease signed before acquisition
Tenant is a stable, recession-resistant business
Timeline:
-
- Found: Q1 2024
- Lease Signed: Pre-close
- Cash Flow Start: Immediate
- Found: Q1 2024
Industrial – Off-Market Acquisition
2024 for $1,350,000
Seller-Financed @ 5.15% (vs. 6.75% market rate)
81% GP – Jarrett Lau | 19% – Tenant/Partner
$343,147
$35,149/year (pre-tax)
10.24%
