For Sale
$1,414,362

125 Benson RdMiddlebury, CT 06762

16,000 SF Warehouse, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This 16,000-square-foot warehouse in Middlebury, CT, sits on a 1.94-acre lot near Interstate 84. Currently 100% occupied by Pilot Seasoning Company under a triple-net (NNN) lease with approximately 0.9 years remaining and no renewal options. The building, constructed in 1983, features a pre-engineered steel frame with decorative block façade, a 20-foot ceiling height, one dock-high door, and a low-pitch metal panel roof. The property includes 15 parking spaces. The asking price is $1,414,362, representing a price per square foot of $88.40 and a land value of $16.74 per square foot. The property generates a net operating income (NOI) of $116,543, resulting in an 8.24% cap rate. The tenant, Pilot Seasoning Company, manufactures prepared foods and miscellaneous food specialties. Middlebury offers convenient access to major highways, Waterbury-Oxford Airport, Metro North Railroad, and CT-Transit bus service. This presents a compelling investment opportunity due to below-market rent and below-replacement cost. The property's address is 125 N Benson Rd, Middlebury, CT 06762.

Highlights

  • 16,000 SF industrial warehouse on a 1.94-acre lot in Middlebury, CT, near I-84.
  • Triple-net (NNN) lease with approximately one year remaining; no renewal options.
  • Below market rent and below replacement cost.
  • $1,414,362 asking price, representing an 8.24% cap rate and $88.40/SF.
  • 100% occupancy with a current NOI of $116,543.
  • Built in 1983, featuring 20' ceilings, one dock-high door, and 15 parking spaces.

Property Details for 125 Benson Rd

Property type
Warehouses, Industrial properties
Square Feet
16,000 SF
Year Built
1983
Buildings
1
Lot Size (sq. ft)
84,506 SF
Units
1

Location Insight

City
Middlebury
County
New Haven
State
Connecticut
Latitude
41.506289
Longitude
-73.1542819
125 Benson Rd, Middlebury, Connecticut

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125 Benson Rd
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