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259-263 Sound Beach Ave
1,200 SF of Retail Space Available in Old Greenwich, CT 06870
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,200 SF | Negotiable | $71.00 /SF/YR $5.92 /SF/MO $764.24 /m²/YR $63.69 /m²/MO $7,100 /MO $85,200 /YR | Modified Gross |
1st Floor
Key Details: Located in the heart of the Old Greenwich shopping district, this 1,200 sq. ft. corner retail unit has excellent visibility with 16’ of frontage on Sound Beach Avenue. The building has recently undergone a renovation featuring a new glass storefront and a modern aesthetic. Adjacent tenants include Kaia Yoga and Forme Barre. Lease Terms: • Address: 261 Sound Beach Avenue, Old Greenwich, CT • Size: 1,200 sq. ft. with additional basement area • Parking: Two dedicated parking spaces • Rent: $7,100 per month, modified gross • Escalations: 3% annual rent increases, plus above a base year on real estate taxes • Landlord Pays: Real estate taxes, building insurance, exterior building maintenance • Tenant Pays: Utilities, maintenance, repairs, replacement, tenant's insurance, rubbish removal • Term: Five to ten years • Availability: Immediate • Condition of Premises: The space is move-in read with a bathroom and new storefront windows and doors • Use: All types of uses will be considered. We are focused on tenants that bring value to the community • Commission: The tenant representative broker will be paid 2.5% for the first five years, 2% thereafter. Payout schedule to be discussed in term sheet.
- Listed rate may not include certain utilities, building services and property expenses
- Fully Built-Out as Standard Retail Space
- Central Air Conditioning
- Heart of the Old Greenwich shopping district
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 259-263 Sound Beach Ave , Old Greenwich, CT 06870
| Property Type | Retail | Gross Leasable Area | 3,502 SF |
| Property Subtype | Freestanding | Year Built | 1930 |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 3,502 SF |
| Year Built | 1930 |
About the Property
Key Details: Located in the heart of the Old Greenwich shopping district, this 1,200 sq. ft. corner retail unit has excellent visibility with 16’ of frontage on Sound Beach Avenue. The building has recently undergone a renovation featuring a new glass storefront and a modern aesthetic. Adjacent tenants include Kaia Yoga and Forme Barre. Lease Terms: • Address: 261 Sound Beach Avenue, Old Greenwich, CT • Size: 1,200 sq. ft. with additional basement area • Parking: Two dedicated parking spaces • Rent: $7,400 per month, $88,800 per year, modified gross • Escalations: 3% annual rent increases, plus above a base year on real estate taxes • Landlord Pays: Real estate taxes, building insurance, exterior building maintenance • Tenant Pays: Utilities, maintenance, repairs, replacement, tenant's insurance, rubbish removal • Term: Five to ten years • Availability: Immediate • Condition of Premises: The space is move-in read with a bathroom and new storefront windows and doors • Use: All types of uses will be considered. We are focused on tenants that bring value to the community • Commission: The tenant representative broker will be paid 2.5% for the first five years, 2% thereafter. Payout schedule to be discussed in term sheet.
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Justin Harris -
Michael Rudder -
Rudder Property Group
Presented by
259-263 Sound Beach Ave
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