760 Newfield St - Manufacturing FOR SALE


Middletown, CT 06457- Downtown Middletown
$11,380,000 USD
929-229-2614
760 Newfield St, Middletown, CT for Sale
$11,380,000 USD
Manufacturing - FOR SALE
1/9
null | 6% Cap Rate

760 Newfield St
Middletown, CT 06457
Downtown Middletown


HIGHLIGHTS

  • 4+ Years Remaining | Options To Extend | Below Market Rent | CPI Based Rental Increases | Corporate Tenant | Recent Improvements
  • Commitment To Site | Mission Critical Facility | Low Market Vacancy
  • NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
  • Strategic Location | Regional Connectivity | Rail Spur Infrastructure
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to present the opportunity to acquire the fee simple interest in a NNN-leased industrial facility located in Middletown, Connecticut. The property is 100% leased to Kloeckner Metals Corporation, a corporate entity of Kloeckner Metals, a top service center operator with 60+ locations across North America, 120+ locations globally, and $3.54 billion in assets reported in 2024. The lease has over 4 years of primary term remaining, with two (2) additional 5-year renewal options. The subject property is currently leased at $4.59 PSF, well below market rents for comparable industrial product in the area, which range from $6.00–$8.00 PSF. A CPI-based rental increase scheduled for 2030 offers investors a built-in inflation hedge and meaningful income growth, demonstrated by a 25% increase from the most recent CPI adjustment in September 2025. Kloeckner has operated at this location since 2005 and renewed the lease three times, highlighting a long-standing commitment to the site; the facility has functioned as a field processing and distribution center since 1959. Recent improvements include a full renovation of the office space completed by the tenant. Headwinds and rising construction costs have limited new industrial development in Central Connecticut, which has kept vacancy low and helped maintain rent stability.

FOR SALE DETAILS

PRICE

$11,380,000 USD

PRICE/SF

$76 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single Tenant Industrial NNN

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

3

PARKING SPACES

40

LAND DETAILS

LAND ACRES

10.5

LAND SF

457,380

ZONING

NPC

APN/PARCEL ID

MTWN M:18 L:0061,MTWN-000018-000000-000047,MTWN-000018-000000-000048

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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