56 Costello Rd - Freestanding FOR SALE


$7,677,419 USD
332-345-2408
56 Costello Rd, Newington, CT for Sale
$7,677,419 USD
Freestanding - FOR SALE
1/3
null | 7.75% Cap Rate


HIGHLIGHTS

  • Brand New 10-Year Absolute NNN Leases
  • Experienced Franchise Ownership | Proven Operators
  • Excellent Demographics | 250 Luxury Units Across the Street
  • Dominant Regional Retail Corridor
  • Prime Signalized Corner | Exceptional Visibility
  • Built-In Rental Growth

OVERVIEW

Surmount is pleased to present the exclusive listing for an Ashley Homestore & Taco John’s located at 56 & 56B Costello Rd, Newington, CT 06111. The site sits on an estimated 3.78-acre parcel of land. Both Ashley Homestore & Taco John’s are subject to 10-year Triple Net (NNN) leases. The total annual rent is $595,000. Taco John’s has a scheduled increase of 11% in year 6 and Ashley Homestore has scheduled 10% increases in each option period.

FOR SALE DETAILS

PRICE

$7,677,419 USD

PRICE/SF

$174 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ashley Homestore & Taco John’s

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.78 AC

LAND SF

164,657 SF

ZONING

PD

APN/PARCEL ID

NEWI-000032-000009

ASK ABOUT THIS PROPERTY

Stewart HickeySurmountMore Info
332-345-2408

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Stewart HickeySurmountMore Info
332-345-2408

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