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Hartford MSA Walgreens | Affluent Demos 980 Farmington Ave 14,725 SF Retail Building Berlin, CT 06037 $6,979,602 CAD ($474.00 CAD/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN lease through August 31, 2032, with ten (5-year) renewal options and no landlord responsibilities.
- Positioned along Farmington Avenue (Route 372) with direct access to I-91 and I-84 with ±15,400 vehicles per day.
- Surrounded by major employers including Eversource Energy, Assa Abloy, Comcast, and others with over 3,000 jobs in the immediate area.
- In a 1, 3 and 5-mile radius average household incomes range from $90,000 to $100,000 per household.
- Located 12 miles from Hartford, home to major employers such as Travelers, Aetna, The Hartford, and Hartford Healthcare.
- Proximity to multiple institutions, including Central Connecticut State University in nearby New Britain and the University of Hartford.
EXECUTIVE SUMMARY
We are offering for sale the Walgreens property located at 980 Farmington Avenue, Berlin, CT 06037 (the "Property"). The lease is structured as an absolute triple-net (NNN) with no landlord responsibilities. Walgreens occupies the site through August 31, 2032, with a preferred lease structure that includes ten five-year renewal options.
The Property is located along Farmington Avenue (Route 372), a key east-west corridor that runs through the town of Berlin and connects to major regional transportation routes, including Interstate 91 and Interstate 84. Berlin is an affluent suburb part of the the Hartford-West Hartford-East Hartford Metropolitan Statistical Area (MSA).
Hartford is home to multiple Fortune 500 companies such as Travelers, Aetna, and The Hartford. Major institutional employers include Hartford Healthcare and Connecticut state government offices. The area also includes higher education campuses such as the University of Hartford, Trinity College, and the University of Connecticut’s Hartford campus, contributing to a stable employment and population base.
Listed in conjunction with Brian Brockman, Bang Realty - New England Inc|, 513-898-1551, wg@bangrealty.com, CT DRE Lic. REB.0792373.
The Property is located along Farmington Avenue (Route 372), a key east-west corridor that runs through the town of Berlin and connects to major regional transportation routes, including Interstate 91 and Interstate 84. Berlin is an affluent suburb part of the the Hartford-West Hartford-East Hartford Metropolitan Statistical Area (MSA).
Hartford is home to multiple Fortune 500 companies such as Travelers, Aetna, and The Hartford. Major institutional employers include Hartford Healthcare and Connecticut state government offices. The area also includes higher education campuses such as the University of Hartford, Trinity College, and the University of Connecticut’s Hartford campus, contributing to a stable employment and population base.
Listed in conjunction with Brian Brockman, Bang Realty - New England Inc|, 513-898-1551, wg@bangrealty.com, CT DRE Lic. REB.0792373.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,725 SF
Building Class
C
Year Built
2007
Price
$6,979,602 CAD
Price Per SF
$474.00 CAD
Cap Rate
9.50%
NOI
$663,062 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.89 AC
Zoning
CCD-2
Parking
40 Spaces (2.72 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | BERL-000094-000080-000013-007938 | Improvements Assessment | $4,529,774 CAD |
| Land Assessment | $999,655 CAD | Total Assessment | $5,529,429 CAD |
PROPERTY TAXES
Parcel Number
BERL-000094-000080-000013-007938
Land Assessment
$999,655 CAD
Improvements Assessment
$4,529,774 CAD
Total Assessment
$5,529,429 CAD
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
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Hartford MSA Walgreens | Affluent Demos | 980 Farmington Ave
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