411 Main StAvon, CT 06001

Property Details for 411 Main St

Year built

1993

Construction

STEEL FRAME

Lot size

0.43 AC

Zone code

CR

Property type

Showrooms

APN

AVON M:6 L:4540411

APU

AVONM6L4540411

Description

This exceptional investment opportunity presents a net-leased Mobil gas station and convenience store in Avon, CT. The property boasts a prime location at a signalized four-way intersection on Route 44 and Route 167, benefiting from high daily traffic counts exceeding 35,000 and 14,000 vehicles respectively. The 880 square foot building sits on a 0.43-acre lot within Avon's central retail corridor, surrounded by major retailers such as CVS, Walgreens, Stop & Shop, and Marshalls, and near shopping destinations like Avon Marketplace and Simsbury Commons. The property features a strong 5.85% cap rate and a substantial net operating income (NOI) of $175,450. The current lease, with Mobil (leased to Global Partners LP, a Fortune 500 company with over $17 billion in revenue), has 7.9 years remaining on the initial 20-year term, followed by eight five-year renewal options, each with a 10% rent increase. Avon's affluent demographics, with average household incomes exceeding $160,000, further enhance the investment's appeal. This is a rare opportunity to acquire a stable, high-performing retail asset in a thriving Connecticut market. The asking price is $2,999,000, representing a price per square foot of $3,407.95. The lease commenced October 1, 2021, and expires October 1, 2032. This NNN lease structure minimizes landlord responsibilities, offering a passive income stream with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $4,552,287

  6.5%

  $4,202,111

  7%

  $3,901,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,167,429

  Geo Method

  $6,167,429

• Alternative Use

  Use

  Valuation

  Residential

  $3,544,638

  Hospitality

  $3,246,869

  Educational

  $2,701,357

  Medical

  $2,794,261

  Retail

  $4,202,111

Location Insight

City

Avon

County

Hartford

State

Connecticut

Latitude

41.8164

Longitude

-72.8668

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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