1 Kennedy DrPutnam, CT 06260

Property Details for 1 Kennedy Dr

Year built

1987

Construction

FRAME

Lot size

1.27 AC

Property size (Sq ft)

2,940 SF

Property type

Showrooms

APN

PUTN M:037 L:031 U:000

APU

PUTNM037L031U000

Description

This exceptional investment opportunity presents the fee simple interest in a 3,365 square foot, single-story animal hospital in Putnam, Connecticut. The property, built in 1987 and situated on a 1.27-acre lot, boasts 30 parking spaces and enjoys high visibility on Kennedy Drive, a busy thoroughfare with 11,628 vehicles daily. The current tenant, under a triple-net (NNN) lease with limited landlord responsibilities (roof, structure, foundation, parking), has a remaining lease term of approximately 2.1 years, followed by three 5-year renewal options. The lease commenced December 1, 2016, and expires December 30, 2026. Annual rent increases of 2% are built into the lease. The property's strong financial performance is reflected in its 8.25% cap rate and a net operating income (NOI) of $74,664. The asking price is $905,000, translating to $268.95 per square foot. The property benefits from its location near other established businesses such as Walgreens, Dunkin', and Frito-Lay. The 5-mile trade area has a population of 21,986 residents and 12,251 daytime employees, with an average household income of $105,608. This presents a low-management, passive investment opportunity with significant upside potential. The property's APN is PUTN M:037 L:031 U:000.

Location Insight

City

Putnam

County

Windham

State

Connecticut

Latitude

41.9031

Longitude

-71.9012

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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