482-496 S Broad St - Freestanding FOR SALE


Meriden, CT 06450- Meriden/Wallingford
$6,250,000 USD
860-558-3711
482-496 S Broad St, Meriden, CT for Sale
$6,250,000 USD
Freestanding - FOR SALE
1/2
null | Request Cap Rate

482-496 S Broad St
Meriden, CT 06450
Meriden/Wallingford


HIGHLIGHTS

  • E-Commerce Resistant Tenant Mix
  • Attractive Yield at a Discounted Basis
  • Strong National/Regional Credit Profile
  • Proven Operating History
  • Demographic Depth and Spending Power
  • Prime Location Along Meriden’s Retail Corridor

OVERVIEW

Colliers is pleased to present the opportunity to acquire the long-term leasehold position in 496 South Broad Street, a ±26,260 square foot multi-tenant retail center in Meriden, Connecticut. Positioned along Route 5, one of the region’s most established retail corridors, the property benefits from strong traffic counts (~17,000 VPD), excellent visibility, and adjacency to national retailers including Big Y, Burlington, Kohl’s, Aldi, and Lowe’s. Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage. With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.

FOR SALE DETAILS

PRICE

$6,250,000 USD

PRICE/SF

$238 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Building 1

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

2.83 AC

LAND SF

123,275 SF

ZONING

M-3

APN/PARCEL ID

MERI-000805-000311-000001G

ASK ABOUT THIS PROPERTY

Ian HuntColliersMore Info
860-558-3711

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Ian HuntColliersMore Info
860-558-3711

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