475-900-3107
830-900 Boston Post Rd, Guilford, CT for Sale
Storefront - FOR SALE
1/12
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830-900 Boston Post Rd
Guilford, CT 06437


HIGHLIGHTS

  • Best Shopping Center in area.

OVERVIEW

Hello. We are a family run business that bought this Lease Hold interest in the 1980's. It has 36 years remaining. The Ground lessor has extended it for a fee at least 3 times. It is a one of a kind Shopping Center in the heart of a quaint Connecticut town. It sits on its own special zoning and has 2 giant septic waste water treatment plants on premises. These are all grandfathered and are never given out any more. Rare Find. As proof of its viability, Target Corp, after year a competitive research, just signed a brand new 10 year lease and is fully renovating their premises at their expense to open and pay rent August 2025. Also JP Morgan Chase Bank just signed a 20 year lease for an outparcel bank which they build at their sole expense. And Big Y Supermarkets just negotiated three (3) ten (10) year options as part of the Target deal, and is doing huge numbers. There are 9 tenants any only 1 vacancy (being looked at) in the strip mall between the two big boxes. This center has been at almost continuous 99% occupancy since it was built in 1970. There was a year long lapse when Wal Mart went out and we negotiated a new Target lease. But other than that, there has been zero big box vacancy and some small turn over in the local stores. We even weathered the pandemic with barely any rent slippage. This is a rare opportunity to get in this ownership. Its the first time its available since 1985 when our family bought it. I am listing it for sale from my personal firm. Any brokers should be paid by their respective buyers. Again this is a a Subordinated Ground Lease with 36 years remaining. That means the ground lessor is prevented from ever mortgaging their ownership and the Ground lessor (this owner) can use their ownership as collateral on their mortgage with Power of Attorney to sign on their behalf. It is a very rare type ground lease in that regard. We have approved plans to renovate the strip mall from the town, (which took a year). Which I attach the rendering of. We have a budget to due this work. As the canopy needs repair. We can discuss how to pay for this the budget is $1.35mm to renovate the strip mall. All other expenses like TI for Target and waiver fee for Big Y will be born 100% by seller. We have no sale price. We are open to all bidders. We need to close by no later than August 1 2025. So

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Shoreline Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bank, Storefront Retail/Office, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

14.51 AC

LAND SF

632,056 SF

ZONING

SC

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Nicholas DalyJ. R. Daly and Sons IncMore Info
475-900-3107

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Nicholas DalyJ. R. Daly and Sons IncMore Info
475-900-3107

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.