560 Durham RdMadison, CT 06443

Property Details for 560 Durham Rd

Year built

1962

Construction

FRAME

Lot size

1.06 AC

Property size (Sq ft)

3,086 SF

Zone code

RU-1

Property type

Specialty properties

Property subtype

Day care centers & nurseries

APN

MADI M:89 B:42

APU

MADIM89B42

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,668 square foot daycare center in Madison, Connecticut. The property, built in 1962 and renovated in 2024, sits on a 1.06-acre lot and boasts a new 15.2-year net lease (commencing July 21, 2024 and expiring September 30, 2039) with a corporate guarantee from Busy Bees, a globally recognized childcare provider with over 990 centers worldwide and 119 in the US. The lease includes 10% rent bumps every five years, minimizing landlord responsibilities. The current annual net operating income (NOI) is $80,000, resulting in a 6.75% cap rate and a price per square foot of $209.10. The tenant, BrightPath (a Busy Bees subsidiary), is undertaking approximately $400,000 in tenant improvements. This single-story building is located in a high-income area ($206,000+ average household income within a 1-mile radius, projected to grow 10%+ by 2028) near major retailers like Starbucks and Wells Fargo. The property's strategic location, as an expansion of an existing BrightPath center across the street, ensures high occupancy (currently 100%). The asking price is $1,185,185. Lease options of 3 and 5 years are available. This is a rare opportunity to acquire a low-price-point, high-growth potential property with a strong, financially secure tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $498,728

  6.5%

  $460,365

  7%

  $427,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $463,699

  Geo Method

  $463,699

• Alternative Use

  Use

  Valuation

  Residential

  $583,992

  Hospitality

  $534,933

  Educational

  $445,058

  Medical

  $460,365

  Retail

  $692,313

Location Insight

City

Madison

County

New Haven

State

Connecticut

Latitude

41.3171

Longitude

-72.6063

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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