465 Providence RdBrooklyn, CT 06234

Property Details for 465 Providence Rd

Year built

2006

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.95 AC

Property size (Sq ft)

6,791 SF

Zone code

PC

Property type

Other commercial real estate

Property subtype

Showrooms

APN

BROO M:41 L:112

APU

BROOM41L112

Description

This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts storefront located at 465 Providence Road in Brooklyn, Connecticut. The property boasts a strong 8.25% cap rate and a substantial net operating income (NOI) of $112,000. The tenant, Advance Auto Parts, is a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB- from S&P and Baa2 from Moody's) and over $11.3 billion in annual sales (2023). This provides significant security for investors. The current lease, a triple-net (NNN) agreement, commenced on July 13, 2006, and has a remaining term of approximately 1.7 years, followed by two 5-year options with a 10% rent increase at each option period. The property sits on a 0.88-acre lot and was built in 2006. The high-traffic location on Providence Road, combined with strong local demographics (average household income exceeding $80,000 within a 5-mile radius), ensures consistent demand. This is a rare opportunity to acquire a well-established, recession-resistant retail property backed by a financially sound, national brand. The asking price is $1,357,576.

• CAP approach

  CAP return

  Valuation

  6%

  $1,650,450

  6.5%

  $1,523,492

  7%

  $1,414,672

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,236,026

  Geo Method

  $2,236,026

• Alternative Use

  Use

  Valuation

  Residential

  $1,285,123

  Hospitality

  $1,177,166

  Educational

  $979,388

  Medical

  $1,013,071

  Retail

  $1,523,492

Location Insight

City

Brooklyn

County

Windham

State

Connecticut

Latitude

41.7969

Longitude

-71.9102

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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