Bank of America - Two Tenant Center 1030 Wolcott St 10,984 SF Retail Building Waterbury, CT 06705 $5,180,000 ($471.60/SF) 5.27% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15yr Corporate BofA Lease w/ 2.5% Annual Increases | Rent Commencement Date - November 16, 2024
- Immediate Upside Through Leasing the Adjacent 4,884 SF Vacancy
- Situated on the Signalized intersection of Lakewood and Wolcott Street (43,000 VPD) w/ Excellent Exposure
- Strategic Relocation Branch – Consolidation of Two Local Branches – Expected $500M in Deposits at Subject Branch
- Billboard Location for Bank of America
- Positioned Along a Major Retail Corridor Surrounded by a Plethora of National Retailers Including: Super Walmart, Stop & Shop, McDonald’s, Panera Brea
EXECUTIVE SUMMARY
Brand New 15yr Corporate BofA Lease w/ 2.5% Annual Increases
Rent Commencement Date - November 16, 2024
Strategic Relocation Branch – Consolidation of Two Local Branches – Expected $500M in Deposits at Subject Branch
Immediate Upside Through Leasing the Adjacent 4,884 SF Vacancy
Billboard Location for Bank of America
Situated on the Signalized intersection of Lakewood and Wolcott Street (43,000 VPD) w/ Excellent Exposure
Positioned Along a Major Retail Corridor Surrounded by a Plethora of National Retailers Including: Super Walmart, Stop & Shop, McDonald’s, Panera Bread, Shop Rite, Firestone and many more
Rent Commencement Date - November 16, 2024
Strategic Relocation Branch – Consolidation of Two Local Branches – Expected $500M in Deposits at Subject Branch
Immediate Upside Through Leasing the Adjacent 4,884 SF Vacancy
Billboard Location for Bank of America
Situated on the Signalized intersection of Lakewood and Wolcott Street (43,000 VPD) w/ Excellent Exposure
Positioned Along a Major Retail Corridor Surrounded by a Plethora of National Retailers Including: Super Walmart, Stop & Shop, McDonald’s, Panera Bread, Shop Rite, Firestone and many more
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,984 SF
Building Class
B
Year Built
1999
Price
$5,180,000
Price Per SF
$471.60
Cap Rate
5.27%
NOI
$272,986
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
3.22 AC
Zoning
CA
Parking
50 Spaces (4.55 Spaces per 1,000 SF Leased)
Frontage
84’ on Wolcott St
AMENITIES
- Pylon Sign
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
4,941 +/- S/F Prime Retail/Medical Space Anchored by Bank of America Waterbury’s Retail Corridor Close Proximity to WalMart, Stop & Shop, Panera, Jersey Mike’s and much more.. Asking $25 NNN + Utilities
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,941 SF | Office/Retail | - | 30 Days |
1st Floor
| Size |
| 4,941 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| 30 Days |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | WATE-000204-000450-000002 | Improvements Assessment | $1,323,350 |
| Land Assessment | $426,930 | Total Assessment | $1,750,280 |
