218 Main StClinton, CT 06413

Property Details for 218 Main St

Year built

2004

Construction

STEEL FRAME

Lot size

2.14 AC

Property size (Sq ft)

13,448 SF

Zone code

B-4

Property type

Other commercial real estate

Property subtype

Showrooms

APN

CLIN M:78 B:70 L:159

APU

CLINM78B70L159

Description

This exceptional investment opportunity presents a 13,650-square-foot Walgreens located at 218 E Main St, Clinton, CT 06413. Built in 2004, this Class A property features a drive-thru and sits on a 2.14-acre lot. The property boasts a 25-year absolute triple-net (NNN) lease with Walgreens, a credit-rated tenant (S&P: BBB), eliminating all landlord responsibilities. The lease, commencing August 1, 2004, and expiring July 31, 2029, has approximately 4.7 years remaining. The current asking price is $4,600,000, representing a 7.50% cap rate and a price per square foot of $337. The property enjoys a 100% occupancy rate, generating a net operating income (NOI) of $345,000. Beneficial rent bumps are included in the lease options. The strategic location between Stop & Shop and ShopRite grocery stores, along with proximity to Clinton Commons Premium Outlets, ensures high visibility and strong foot traffic. This fee-simple ownership offers a secure, passive income stream with a well-established tenant in a prime retail location. The property is suitable for a 1031 exchange.

• CAP approach

  CAP return

  Valuation

  6%

  $3,268,334

  6.5%

  $3,016,923

  7%

  $2,801,429

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,427,932

  Geo Method

  $4,427,932

• Alternative Use

  Use

  Valuation

  Residential

  $2,544,888

  Hospitality

  $2,331,103

  Educational

  $1,939,451

  Medical

  $2,006,151

  Retail

  $3,016,923

Location Insight

City

Clinton

County

Middlesex

State

Connecticut

Latitude

41.2722

Longitude

-72.5073

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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