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Building 1 482-496 S Broad St 26,260 SF 100% Leased Retail Building Meriden, CT 06450 $8,724,500 CAD ($332.24 CAD/SF)
INVESTMENT HIGHLIGHTS
- E-Commerce Resistant Tenant Mix
- Strong National/Regional Credit Profile
- Demographic Depth and Spending Power
- Attractive Yield at a Discounted Basis
- Proven Operating History
- Prime Location Along Meriden’s Retail Corridor
EXECUTIVE SUMMARY
Colliers is pleased to present the opportunity to acquire the long-term leasehold position in 496 South Broad Street, a ±26,260 square foot multi-tenant retail center in Meriden, Connecticut. Positioned along Route 5, one of the region’s most established retail corridors, the property benefits from strong traffic counts (~17,000 VPD), excellent visibility, and adjacency to national retailers including Big Y, Burlington, Kohl’s, Aldi, and Lowe’s.
Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage.
With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.
Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage.
With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
26,260 SF
Building Class
B
Year Built
2007
Price
$8,724,500 CAD
Price Per SF
$332.24 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
2.83 AC
Zoning
M-3
Parking
100 Spaces (3.81 Spaces per 1,000 SF Leased)
Frontage
425’ on Broad St
AMENITIES
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | MERI-000805-000311-000001G | Improvements Assessment | $6,094,879 CAD |
| Land Assessment | $1,671,177 CAD | Total Assessment | $7,766,056 CAD |
PROPERTY TAXES
Parcel Number
MERI-000805-000311-000001G
Land Assessment
$1,671,177 CAD
Improvements Assessment
$6,094,879 CAD
Total Assessment
$7,766,056 CAD
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Building 1 | 482-496 S Broad St
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