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- LoopNet Team
10 Jolley Dr
Bloomfield, CT 06002
Hartford Healthcare · Retail Property For Sale
Investment Highlights
- Brand New 15 Year NNN Lease with 7% Increases Every 5 Years | Three 5 Year Options at Market Rate
- Limited Landlord Responsibilities: Replacement of Roof, Structure and Parking Lot
- Investment Grade Credit with Corporate Guarantee (S&P Credit Rating: A)
- Tenant Responsibilities: Taxes, Insurance, Roof and Parking Lot Maintenance and Repairing/Replacing HVAC
PROPERTY FACTS
- Retail
- Office Medical
About 10 Jolley Dr , Bloomfield, CT 06002
The subject property is a medical office building leased to Hartford Hospital starting on January 1st, 2020 and expires March 31st, 2035. This 15-year triple net (NNN) lease includes 7% rent increases every five years and three five-year renewal options at market rent. The property is situated on 1.56 acres along Route 218, which has over 24,000 vehicles passing the site per day. The tenant is backed by an investment grade credit with a corporate guarantee (S&P Credit Rating: A). The lease is a triple net lease with the tenant responsible for taxes, insurance, maintenance (including roof and parking lot maintenance), and replacing/repairing HVAC. The landlord is responsible for replacement of the structure, roof, and parking lot. This is an excellent opportunity for an investor to acquire a newly renovated medical office building as the landlord is investing over two million dollars into the property and delivering to the tenant in shell condition. The tenant is building an ambulatory surgery center (endoscopy/GI) and a digestive clinic. Their investment ill be very significant over and above the site, shell, and utility work the landlord is doing. Also included in these renovations is a brand new roof. This is a long-term lease with increases throughout the base term and option periods along with minimal landlord responsibilities. Other retailers in the market include McDonald’s, Burger King, Subway, IHOP, Starbucks, Boston Market, GameStop, AT&T, Sprint, Stop & Shop, Lowe’s, Home Depot, Goodwill, Habitat for Humanity Restore, Firestone Complete Auto Care, The Good Dog Spot, and others.
PROPERTY TAXES
Parcel Number | BLOO-000872-000000-000128-000001-102 | Improvements Assessment | $1,835,260 |
Land Assessment | $131,040 | Total Assessment | $1,966,300 |
PROPERTY TAXES
Learn More About Investing in Retail Properties
Listing ID: 19222256
Date on Market: 4/14/2020
Last Updated:
Address: 10 Jolley Dr, Bloomfield, CT 06002
The Retail Property at 10 Jolley Dr, Bloomfield, CT 06002 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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