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Ashley Homestore & Taco John’s 56 Costello Rd 44,034 SF Retail Building Newington, CT 06111 $10,802,128 CAD ($245.31 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Brand New 10-Year Absolute NNN Leases
- Excellent Demographics | 250 Luxury Units Across the Street
- Prime Signalized Corner | Exceptional Visibility
- Experienced Franchise Ownership | Proven Operators
- Dominant Regional Retail Corridor
- Built-In Rental Growth
Executive Summary
Surmount is pleased to present the exclusive listing for an Ashley Homestore & Taco John’s located at 56 & 56B Costello Rd, Newington, CT 06111. The site sits on an estimated 3.78-acre parcel of land. Both Ashley Homestore & Taco John’s are subject to 10-year Triple Net (NNN) leases. The total annual rent is $595,000. Taco John’s has a scheduled increase of 11% in year 6 and Ashley Homestore has scheduled 10% increases in each option period.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
44,034 SF
Building Class
B
Year Built
1960
Price
$10,802,128 CAD
Price Per SF
$245.31 CAD
Cap Rate
7.75%
NOI
$837,165 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
3.78 AC
Zoning
PD
Frontage
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
20/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | NEWI-000032-000009 | Improvements Assessment | $2,462,250 CAD |
| Land Assessment | $886,410 CAD | Total Assessment | $3,348,660 CAD |
Property Taxes
Parcel Number
NEWI-000032-000009
Land Assessment
$886,410 CAD
Improvements Assessment
$2,462,250 CAD
Total Assessment
$3,348,660 CAD
Contacts
-
Stewart Hickey -
Anthony D'Ambrosia -
Josh Kanter -
Glen Kunofsky -
Christopher Marks -
Surmount
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Videos
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Photos
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Street
Map
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Ashley Homestore & Taco John’s | 56 Costello Rd
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