For Sale
$2,724,480

181 Raffia RdEnfield, CT 06082

Prime CT retail investment; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a newly constructed, 10,640-square-foot Dollar General store in Enfield, Connecticut. Located at 181 Raffia Rd, 06082, this property benefits from a 15-year absolute triple-net (NNN) lease commencing July 1, 2024, and expiring July 1, 2039, offering a remaining lease term of approximately 14.6 years. The tenant, Dollar General Corporation (NYSE: DG), holds an S&P investment-grade credit rating, providing investors with significant security. The property boasts a 6.25% cap rate and a net operating income (NOI) of $170,280, with an asking price of $2,724,480 ($256.06 per square foot). Situated on a 2.38-acre lot, the building's advantageous location is adjacent to JFK Middle School, serving over 1,000 students. Strong demographics further enhance the investment's appeal, with an average household income exceeding $115,000 within a three-mile radius and consumer spending exceeding $343 million in 2023 within the same area. This 2024-built property represents a secure, high-yield investment in a thriving Connecticut market. The property is suitable for a 1031 exchange.

Highlights

  • Dollar General (NYSE: DG) corporate tenant with S&P investment-grade credit.
  • New 15-year absolute triple-net lease.
  • Newly constructed (2024) 10,640 SF building on a 2.38-acre lot.
  • Prime location adjacent to JFK Middle School (1,000+ students).
  • Strong demographics: $115,000+ average household income and $343 million+ consumer spending within a 3-mile radius in 2023.

Property Details for 181 Raffia Rd

Property type
Retail properties, Retail space
Square Feet
10,640 SF
Year Built
2024
Lot Size (sq. ft)
103,673 SF

Location Insight

City
Enfield
County
Hartford
State
Connecticut
Latitude
41.95505330609
Longitude
-72.564476791536
181 Raffia Rd, Enfield, Connecticut

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181 Raffia Rd
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