980 Farmington Ave - Drug Store FOR SALE


Berlin, CT 06037
$5,277,779 USD
619-297-0055
980 Farmington Ave, Berlin, CT for Sale
$5,277,779 USD
Drug Store - FOR SALE
1/2
null | 9% Cap Rate

980 Farmington Ave
Berlin, CT 06037


HIGHLIGHTS

  • Absolute NNN lease through August 31, 2032, with ten (5-year) renewal options and no landlord responsibilities.
  • In a 1, 3 and 5-mile radius average household incomes range from $90,000 to $100,000 per household.
  • Positioned along Farmington Avenue (Route 372) with direct access to I-91 and I-84 with ±15,400 vehicles per day.
  • Located 12 miles from Hartford, home to major employers such as Travelers, Aetna, The Hartford, and Hartford Healthcare.
  • Surrounded by major employers including Eversource Energy, Assa Abloy, Comcast, and others with over 3,000 jobs in the immediate area. 
  • Proximity to multiple institutions, including Central Connecticut State University in nearby New Britain and the University of Hartford.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$5,277,779 USD

PRICE/SF

$356 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hartford MSA Walgreens Affluent Demos 9 CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.89 AC

LAND SF

82,328 SF

ZONING

-

APN/PARCEL ID

BERL-000094-000080-000013-007938

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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