954-960 Main St - Medical FOR SALE


Branford, CT 06405
$3,600,000 USD
203-404-4088
954-960 Main St, Branford, CT for Sale
$3,600,000 USD
Medical - FOR SALE
1/8
null | 8.19% Cap Rate

954-960 Main St
Branford, CT 06405


HIGHLIGHTS

  • The two largest tenants both recommitted to the property by restarting their leases with 5-Year terms.
  • The deal has a weighted average lease term of over 4.5 years.
  • All three leases feature annual rent increases of at least 2% to help offset the impact of inflation.

OVERVIEW

This property offers an excellent opportunity to own a medical office located on Main Street in Branford, CT, directly across from the Town Green. The current doctor owners have been practicing at this location for over 35 years. The building is home to their primary care practice along with additional complimentary medical tenants. The property has benefited from onsite management and attention to detail. LEASE GUARANTORS • Quinnipiac Medical of Branford, in practice for over 35 years, is home to four MD’s, three PA’s, and three NP’s. Their practice has expanded to offer concierge services in addition to in-office care. This tenant has recently amended their lease to restart their 5-Year term starting October 1, 2025. • ENT Medical and Surgical, is comprised of 5 Doctors and was established over 25 years ago. Their office in Branford is one of three in the area. This tenant has recently amended their lease to restart their 5-Year term starting October 1, 2025. • Audiology Services Company, is a subsidiary of Hearing Life, a 100-yearold hearing specialist with locations nationwide. They recently expanded and took a larger office in the building. VALUE-ADD COMPONENT Vacancies—The building has two small vacancies totaling 1,550 square feet ideal for additional medical uses such as Mental Health, Nutrition, Physical Therapy or Body Work, or Diagnostic Services. These units can be combined. RENTAL INCREASES All three leases feature annual rent increases of at least 2% to help offset the impact of inflation. LOCATION The property sits in the heart of Main Street in Branford, a picturesque shoreline community, which features countless Restaurants, Retail Stores, Professional Offices, and other sources for Night and Weekend Activities. Approximately 12,500 vehicles pass directly in front of the building daily. The location has over 100,000 people living within five miles which makes this an ideal site for medical use. Average Household Income is over $130,000 within just three miles of the property. ACCESS The property has direct access to Interstate 95 with an exit less than one mile away. I-95 provides access to New Haven (8 miles), Hartford (45miles), New York City (86 miles), and Providence (95 miles). PROPERTY CONDITION Ownership has operated on-site since purchase and has actively managed the property the entire time. No deferred maintenance is known to exist currently. Substantial improvements to the Roof were made in 2024 and includes a 10-year warranty. The property also benefits from having a public parking lot at the rear which provides adequate parking for the entire block, cutting down on common area maintenance expenses.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$218 USD /SF

CAP RATE

8.19%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,833 SF

ZONING

BC

APN/PARCEL ID

BRAN-000007E-D000007-000005-000023

ASK ABOUT THIS PROPERTY

Charles RichGreysteelMore Info
203-404-4088

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Charles RichGreysteelMore Info
203-404-4088

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