For Sale
$885,000

809 Wolcott AveWaterbury, CT 06705

High-yield, corporate-guaranteed net lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,951 square foot auto shop in Waterbury, CT, boasting a 100% occupancy rate with a strong corporate tenant under a net lease agreement. The property, situated on a 0.53-acre lot at 809 Wolcott Ave, features a 50-year lease (expiring 10/31/2026), with a remaining term of approximately 1.9 years and a five-year option period with a 7% rent increase. Built in 1976 and renovated in 2016, the property includes a brand new roof (2023) with a 20-year transferable warranty and a recently repaved parking lot (2023). The property benefits from a high-traffic location on Wolcott Street, exceeding 25,000 vehicles per day, and is surrounded by national retailers including Walmart, Stop & Shop, and others. The strong demographics, with an average household income exceeding $80,752 within a 5-mile radius, further enhance the investment potential. The asking price is $885,000, representing a 7.12% cap rate and a NOI of $63,000. This is a rare opportunity to acquire a stable, high-performing asset with a long history of occupancy and minimal landlord responsibilities. The tenant's strong corporate backing and the below-market rental rate contribute to the overall attractiveness of this investment.

Highlights

  • Double Net Lease with minimal landlord responsibilities.
  • New roof installed in 2023 with a 20-year transferable warranty; parking lot repaved and restriped in 2023.
  • Nearly 50 years of continuous occupancy with an excellent tenant history.
  • Investment-grade tenant ("A" rated) with strong corporate backing.
  • Below-market rent with a 7% escalation in the final option period.
  • High traffic counts exceeding 25,000 vehicles per day on Wolcott St.

Property Details for 809 Wolcott Ave

Property type
Retail properties, Retail space
Square Feet
3,951 SF
Year Built/Renovated
1976/2016
Buildings
1
Lot Size (sq. ft)
23,087 SF

Location Insight

City
Waterbury
County
New Haven
State
Connecticut
Latitude
41.563645035226
Longitude
-73.009752913019
809 Wolcott Ave, Waterbury, Connecticut

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809 Wolcott Ave
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