2897 Berlin Tpke - Freestanding FOR SALE


$2,587,940 USD
201-215-1802
2897 Berlin Tpke, Newington, CT for Sale
$2,587,940 USD
Freestanding - FOR SALE
1/8
null | 5% Cap Rate


HIGHLIGHTS

  • Long Term Lease
  • Fixed Rent Increases
  • Zero Landlord Responsibilites
  • Strong Corporate Tenant

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of a corporate Ground Leased Firestone investment property located at 2897 Berlin Turnpike in Newington, Connecticut (the “Property”). The single tenant Absolute NNN Ground Leased Firestone was constructed in 2015 and contains 8,400 square feet on a 1.00-acre parcel. Firestone has 14+ years remaining on their Absolute NNN Lease with seven (7), 5-year renewal options and attractive 6.5% rental increases every five years throughout the primary term, and at the start of each renewal option. The Property is prominently positioned along Berlin Turnpike (US Route 5), central Connecticut’s primary commercial and commuter corridor. Firestone benefits from excellent access and visibility with significant frontage on US Route 5, attracting both residents and commuters. The Property is seconds from the signalized intersection with Main Street and Griswoldville Avenue and is convenient to CT Routes 9 and 3 and Interstate 91. Firestone is surrounded by large shopping centers and national and local retailers and restaurants that drive traffic to the area. Additionally, the Property is across the street from the Connecticut Department of Transportation’s headquarters and is convenient to residential neighborhoods and area schools providing a built-in customer base.

FOR SALE DETAILS

PRICE

$2,587,940 USD

PRICE/SF

$308 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Firestone

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,996 SF

ZONING

PD

APN/PARCEL ID

NEWI-000023-000142-C000000

ASK ABOUT THIS PROPERTY

Steven SchiavelloHorvath & TremblayMore Info
201-215-1802

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Steven SchiavelloHorvath & TremblayMore Info
201-215-1802

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