Daycare investment

Retail-Commercial for Sale
Catylist Listing ID: 30620437
Property Subtypes: Day Care Facility
Building Status: Under Construction
Building Size (RSF): 10,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.44 Acres
Sale Price: $5,775,000
Unit Price: $577.50 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 6.75%
Last Updated: 9/29/2020

Overview / Comments

The property is located in Glastonbury, CT, a wealthy Hartford suburb.
The lease is a 15 year base term with $390,000 NNN income. Price is 6.75% cap rate. The population in a 5 mile ring is 116,000+.

Landlord is responsible for roof and structure.

Current Tenants

Tenant Business Name The Learning Experience
Current Rent $390,000 PSF (Annual)
Tenant Notes 15 Year base lease term. Building was delivered to tenant in July 2020. Rent Commencement expected no later than early October 2020.

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Hartford
Taxing Authority: Glastonbury, CT
Tax ID/APN: 48800086
Property Located Between: Commerce St and Kreiger Ln
Property Visibility: Excellent
Largest Nearby Street: New London Tpke
Feet of Frontage: 150
Traffic/Vehicle Count: 11,400
Highway Access: Oak St to New London Tpke to State Route 2
Area Description: Located opposite Super Stop & Shop and Liberty Bank.
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2020
Total Parking Spaces: 39
Parking Type: Surface
Zoning Description: Planned Commerce
Lot Frontage: 150

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,527 46,052 173,758
Median Age: 41.31 42.82 38.67
Households: 1,583 18,887 69,028


Photograph of Listing Agent

Steve Patten

The Proto Group, LLC.
CTCList Member
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