855 Washington St - Supermarket FOR SALE


Middletown, CT 06457- Downtown Middletown
$19,761,075 USD
781-776-4003
855 Washington St, Middletown, CT for Sale
$19,761,075 USD
Supermarket - FOR SALE
1/5
null | 6% Cap Rate

855 Washington St
Middletown, CT 06457
Downtown Middletown


HIGHLIGHTS

  • Long Term Lease
  • Attractive Rent Increases
  • Minimal Landlord Responsibilities
  • Corporate Guaranty
  • Strategic Retail Location
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a Market 32 investment property located at 855 Washington Street in Middletown, Connecticut (the “Property”). Constructed in 2010, Market Basket has 10+ years remaining on their triple net Lease with six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option period. Market 32 is well-located on Washington Street (CT Route 66), the area’s primary commercial and commuter corridor. The Property enjoys excellent frontage, visibility and signage in the heart of Middletown’s shopping district and is adjacent to Home Depot, across from Middletown Plaza, and is surrounded by national retailers and restaurants that drive traffic to the area. Market 32 is just over a mile from Wesleyan University, one of the most prestigious liberal arts colleges in the country and a significant economic driver for Middletown and the surrounding area.

FOR SALE DETAILS

PRICE

$19,761,075 USD

PRICE/SF

$316 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Market 32

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

LAND ACRES

5.32 AC

LAND SF

231,739 SF

ZONING

B2

APN/PARCEL ID

MTWN-000013-000000-000075

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

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