Week 42 · 1/5 · shop unit · #0006
Boterstraat 21
The location
Shops and food outlets within 100 m, against the busiest spot in town. Under 25%, distance decides: within 250 m of the busiest spot is B2, further out is C. This one is 80 m away.
The verdict
Bid low.
Two joined shops on one of Alkmaar's main shopping streets, let for about 30 years to a jeans store, with no lease end in the brochure. At €450k it returns 5.8% a year over ten years, before any loan; this location needs 6.75%. It works at about €419k: close, with rent upside.
| Figure | Value | Against |
|---|---|---|
| Works at | €419k | !7% below asking |
| NIY at asking | 6.5% | ●year-one net rent against price plus costs |
| Your return at asking, no loan | 5.8% | ✕needs 6.8% |
| With a 55% loan | 5.6% | ✕worse than no loan |
| Confidence | Medium | ● Rent, floor areas and association costs from the brochure; the tenant is trading there. The brochure gives no lease end, index month or notice terms, so Anvest assumes the lease ends on 31 December 2029. Rent growth is held at 0.8% a year, the most Alkmaar's prime shop prices support. |
What matters most
- 1MixedThirty years, but no lease terms30 years!
the jeans store has traded here; the brochure gives no lease end, so Anvest assumes December 2029
- 2ForBelow what nearby shops ask€199 per m²✓
a year on gross area; a double shop on the Mient asks €254 and the Laat €275
- 3ForA fashion shop can carry it€250k✓
in yearly sales keeps the rent under 15%: €1,330 per m² of floor; fashion shops sell about €2,100 per m² of sales floor
The flip
Rent at the next letting, a year, in today's moneyUp: it becomes Rare (works within 5% of asking) if the next rent is at least €38,300 a year in today's money, €800 more than today's €37,500; Secret Rare from €42,500, still under what shops nearby ask per m². Down: below €34,100 it becomes Common. The lease end is assumed, so ask for the lease before bidding.
Playground
Loading the model.
Yellow = changed from Anvest's assumptions.
The brochure, checked
Let for about 30 years to New Basic Alkmaar V.O.F. (Original Jeans Store)
The firm is registered at Boterstraat 21 and dates from 1991; the shop trades as New Basic.
The brochure gives no lease end, index month or notice terms. Ask for the lease. Anvest assumes it ends on 31 December 2029.
Rent €37,500 a year, excluding VAT
That is €199 per m² a year on 188 m² gross. A double shop of about 205 m² on the Mient is on offer at €4,345 a month (€254 per m²); Laat 138 asks €35,750 for 130 m² (€275) and has been on offer since April 2026. In 2023 Boterstraat 20 (about 160 m²) was offered at €206 per m², rising to €263 in its third year.
Asking rents, not deals. The model keeps today's rent until the lease ends.
Gross initial yield (BAR) 8.33%
€37,500 on €450,000 is 8.33%. After buyer's costs, the owners' association and upkeep, the net yield in year one is about 6.5%.
The 8.33% is before any cost.
In the core shopping area, among fashion shops, a short walk from the Waagplein and the Langestraat
136 shops and food outlets within 100 m: 76% of the 178 at the busiest spot, on the Langestraat, 80 m away. A main shopping street (A1) in a city centre of 865 shops and food outlets.
Owners' association contribution about €230 a month
€2,760 a year, about €15 per m²: in the model as a fixed cost rising 2% a year, on top of 5% of the rent for tax and management.
Ask for the association's budget, reserves and recent minutes before bidding.
188 m² gross: about 110 m² at number 21 and 78 m² at number 23
Used as given. Floor areas in public registers are unreliable, so Anvest works with the brochure.
Two units (cadastral Alkmaar A 5280 A8 and A9), joined into one shop and easy to split again; plot 230 m²
A8 and A9 are apartment rights in a split building with nine units, so the 230 m² plot is shared through the owners' association, not owned outright. Two front doors and the original layout make a split plausible; it needs building works and only pays once the tenant leaves.
Ask for the split deed and the association's rules. The split is not counted in the price.
Built in 1900
Public registers give 1900 too.
An old building: Anvest budgets €9,400 of catch-up works inside the shop.
Energy label B
Not checked: the energy label register is outside the data this page can reach.
Zoning 'Gemengd' (mixed use) under the plan 'Binnenstad Centrum'
Not checked on the zoning map, which is outside the data this page can reach. Three other shops on the Boterstraat were offered under the same plan and designation.
The neighbourhood
| Measure | Value | Against |
|---|---|---|
| Household income, Binnenstad-West | €39.5k | ●2% below Alkmaar (€40.2k) |
| Average home value | €346k | ●9% below Alkmaar (€380k) |
| Homes within 500 m | 4,504 | ✓196 within 100 m |
| Shops and food outlets within 500 m | 898 | ✓722 shops and 176 food outlets |
| People in Alkmaar, 2016 to 2026 | +5.2% | ●113,196 now; the country grew 6.8% |
About this card
| Unit | m² | Rent a year | Lease end |
|---|---|---|---|
| New Basic jeans shop, numbers 21 and 23 joined | 188 | €37.5k | 31 Dec 2029 |
- Retail segment
- Fashion
- Lease
- ends 31 Dec 2029, 3.2 years left, assumed
- Rent against market
- underrented, 22% below market rent
- Build year
- 1900
- Energy label
- B (brochure, not verified)
- Zoning
- Gemengd (mixed use), plan Binnenstad Centrum (brochure, not verified)
- Cadastre
- Alkmaar A 5280 A8 and A9: two apartment rights in a split building with nine units (brochure)
Analysed 11 Oct 2026 · model anvest-model v0.3
Offered by Bregman Bedrijfsmakelaardij o.g. B.V. · bregmanbedrijfsmakelaardij.nl · listing
Anvest has no ties to the seller or the agent.