10 Lathrop RdPlainfield, CT 06374

Property Details for 10 Lathrop Rd

Year built

2000

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.54 AC

Property size (Sq ft)

10,937 SF

Zone code

C2

Property type

Showrooms

APN

PLAI M:017 B:011A L:0004

APU

PLAIM017B011AL0004

Description

This exceptional investment opportunity presents a fee-simple, 10,937 square-foot CVS Pharmacy in Plainfield, Connecticut. Located on a 2.54-acre lot at a signalized intersection with high visibility and traffic counts exceeding 30,000 vehicles daily, this property benefits from a strong location near healthcare facilities and major distribution centers. The property features an absolute NNN lease with a credit-rated, corporate-guaranteed tenant (CVS Health Corporation), providing passive ownership and minimizing investor responsibilities. The lease, extending to October 31, 2034, offers a substantial remaining term of 9.9 years. Built in 2000, this property boasts a current NOI of $182,000, translating to a 6.25% cap rate and a price per square foot of $266.25. The asking price is $2,912,000. This is a rare opportunity to acquire a well-performing, low-risk retail investment with a long-term, investment-grade tenant in a strategic location. The tenant's essential business model and consistent rent payments demonstrate resilience and stability, making this an attractive investment for discerning buyers. The property's location near healthcare facilities and major distribution centers further enhances its long-term value and potential for appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,658,073

  6.5%

  $2,453,606

  7%

  $2,278,348

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,601,152

  Geo Method

  $3,601,152

• Alternative Use

  Use

  Valuation

  Residential

  $2,069,708

  Hospitality

  $1,895,842

  Educational

  $1,577,318

  Medical

  $1,631,564

  Retail

  $2,453,606

Location Insight

City

Plainfield

County

Windham

State

Connecticut

Latitude

41.6672

Longitude

-71.9145

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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