149 Amity Rd - Bank FOR SALE


New Haven, CT 06515- Amity
$5,060,000 USD
330-777-1505
149 Amity Rd, New Haven, CT for Sale
$5,060,000 USD
Bank - FOR SALE
1/6
null | 5.5% Cap Rate

149 Amity Rd
New Haven, CT 06515
Amity


HIGHLIGHTS

  • Long-Term Tenancy
  • Attractive Rent Increases
  • Best-in-Class Credit Tenant
  • Ground Lease
  • Outstanding Deposits
  • 10% Bump in 6 Months | 6.05% Cap At Asking

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a Chase Bank ground lease located at 149 Amity Road in New Haven, Connecticut (the “Property”). Chase Bank has occupied this location since it was constructed in 2013; the Property is improved by a 4,120 square foot building with three (3) drive-thru lanes on a corner parcel. Chase Bank has 6+ years remaining on their Absolute NNN Ground Lease with four (4), five-year renewal options. The Lease call for attractive 10% rent increases every five years throughout the base term and at the start of each renewal option period. The Property is positioned at 149 Amity Road in New Haven's desirable Westville submarket, a densely populated and affluent area that serves as a key residential and commercial corridor for western New Haven and neighboring communities. Located near the intersection of Amity Road (Route 63) and Whalley Avenue (Route 243), the Property benefits from convenient access to major regional thoroughfares, including the Wilbur Cross Parkway (Route 15), Interstate 95, and Interstate 91, providing excellent connectivity throughout the Greater New Haven region. The surrounding area is supported by a diverse economic base anchored by Yale University and Yale New Haven Hospital, two of Connecticut's largest employers, as well as a substantial concentration of healthcare providers, educational institutions, professional services firms, and research organizations. The Property is also within close proximity to numerous public and private schools and benefits from a large population of students, faculty, healthcare professionals, and area residents. As the economic and educational hub of south-central Connecticut, New Haven attracts a highly educated workforce and a broad base of consumers, creating strong demand for retail banking, lending, wealth management, and business banking services. The combination of dense surrounding neighborhoods, strong household incomes, excellent transportation access, and proximity to major employment and educational centers makes this an outstanding location for Chase Bank and supports long-term branch performance within one of Connecticut's most established and economically vibrant markets.

FOR SALE DETAILS

PRICE

$5,060,000 USD

PRICE/SF

$1,152 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chase Bank | Strong Deposits | Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

-

APN/PARCEL ID

NHVN-000429-001174-000100

ASK ABOUT THIS PROPERTY

Steven SchiavelloHorvath & TremblayMore Info
330-777-1505

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Steven SchiavelloHorvath & TremblayMore Info
330-777-1505

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