Strip center for sale

Retail-Commercial for Sale
Catylist Listing ID: 30655811
Property Subtypes: Street Retail
Building Size (RSF): 6,874 SF
Gross Land Area: 0.93 Acres
Sale Price: $800,000
Unit Price: $116.38 PSF
Has Drive-Thru? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/30/2020

Overview / Comments

Three-tenant strip center on busy Route 80 in New Haven, CT. Former bank has two drive-through lanes. 32,100 cars pass the property daily. Located 1/2 mile from I-91 exit 8. Surrounded by national retailers such as Walmart, Lowe's, Walgreen's, McDonald's, Burger King, Popeye's, Dollar Tree and Aldi.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $33,987 (Annual)
Tax Value Land $322,070
Tax Value Improvements $452,480
Assessed Value - Total($) $774,550 (Annual)

Current Tenants

Tenant Business Name Solutions Center LLC
SF of Space Occupied 2,400 SF
Lease Expiration 12/2023
Tenant Notes Operates as T-Mobile, formerly Sprint
Tenant Business Name Executive Cleaners
SF of Space Occupied 1,750 SF
Lease Expiration 9/2020
Tenant Notes Month-to-month tenant operating in the center since February, 1997
Tenant Business Name Former bank branch
SF of Space Occupied 2,724 SF

Additional Details

Nearest MSA: New Haven-Milford
County: New Haven
Taxing Authority: New Haven, CT
Zoning: BA
Retail Clientele: General
Property Located Between: One property east of the SEC of Foxon Blvd (SR80) and Quinnipiac Ave
Property Visibility: Excellent
Largest Nearby Street: Quinnipiac Ave
Traffic/Vehicle Count: 32,100
Highway Access: 1/2 mile for I-91 exit 8
Area Description: Strong national retail corridor
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1980
Roof Type: Flat
Construction/Siding: Brick, Wood Frame
Total Parking Spaces: 39
Parking Type: Surface
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: General Business
Lot Frontage: 251
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Parking easement for abutter on east end of property

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,535 109,554 272,227
Median Age: 37.59 35.71 36.48
Households: 6,931 43,687 106,642

Contact

Photograph of Listing Agent

Steve Patten

The Proto Group, LLC.
Not a member of CTCList
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