For Sale
$2,150,000

753 Hartford PikeKillingly, CT 06241

High-yield auto parts store investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7,225 square foot O'Reilly Auto Parts retail building located at 753 Hartford Pike, Killingly, CT 06241. Built in 2017, this single-tenant property boasts a strong 13-year remaining lease term (expiring 10/31/2037) with a corporate guarantee. The property enjoys excellent visibility and access on a major thoroughfare, less than a mile from other major retailers including Target, Lowe's, and more. The building benefits from a Net Net lease structure, providing a stable income stream with a current NOI of $125,665 and a 5.84% cap rate. The asking price is $2,150,000 ($297.58/sq ft). Situated in a strong demographic area with over 23,000 people within a 5-mile radius and average household incomes exceeding $80,000, this property offers a compelling combination of stability, location, and growth potential. The lease includes rent increases every five years, starting in four years. This is a turnkey investment with minimal deferred maintenance, providing a secure and profitable addition to any portfolio. The property is 100% occupied.

Highlights

  • Investment-grade tenant with a BBB Standard & Poor's rating.
  • 2017-built, new construction building requiring minimal deferred maintenance.
  • 14 years remaining on a 20-year initial lease with rent increases every 5 years.
  • Excellent visibility and access; O'Reilly Auto Parts enjoys direct frontage on Hartford Pike, a major thoroughfare.
  • Prime retail location; less than one mile from Target, Lowe's, TJ Maxx, Michaels, Petco, Kohl's, Aldi, and other major retailers.
  • Strong demographics; over 23,000 people within a 5-mile radius with average household incomes exceeding $80,000.

Property Details for 753 Hartford Pike

Property type
Retail properties, Auto shops
Square Feet
7,225 SF
Year Built
2017
Buildings
1

Location Insight

City
Killingly
County
Windham
State
Connecticut
Latitude
41.8388191
Longitude
-71.8731144
753 Hartford Pike, Killingly, Connecticut

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753 Hartford Pike
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