Smithland Pet & Garden Center | 74 South St
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Smithland Pet & Garden Center 74 South St
19,014 SF Retail Building Bethel, CT 06801 $2,817,077 ($148/SF) 6.50% Cap Rate
Investment Highlights
- New Absolute NNN Lease with 2% Annual Rent Increases
- Excellent Access & Visibility in Downtown Bethel
- Affluent Demographics | Population of 103,787 & AHI of $122,495 within a 5-Mile Radius
- Strong Site-Level Performance | Generates Strong EBITDAR-to-Rent Coverage
- Substantial Built-In Customer Base | Nearly 3,200 Households Within 1-Mile
- Bridgeport-Stamford-Norwalk, CT MSA Advantage | MSA Population 965,140
Executive Summary
CBRE is pleased to exclusively offer for sale the 19,014-total-square-foot Smithland Pet & Garden Center situated on 3.14 acres in Bethel, Connecticut—a component of the Bridgeport-Stamford-Norwalk, CT MSA (Population: 965,140). Smithland’s long-term absolute NNN lease features ±17.9 years of term remaining with 2.00% annual rent increases throughout the initial term and in each of the five 5-year renewal options. The lease also includes a corporate guaranty from CT Garden Holdings, LLC. This particular location generates strong revenues and EBITDAR-to-Rent coverage.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Garden Center
Building Size
19,014 SF
Building Class
B
Year Built
1991
Price
$2,817,077
Price Per SF
$148
Cap Rate
6.50%
NOI
$183,110
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
3.14 AC
Zoning
I
Parking
43 Spaces (2.26 Spaces per 1,000 SF Leased)
Frontage
122 FT on South Street
Walk Score ®
Very Walkable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | BETH-000022-000021-000001 | Improvements Assessment | $567,000 |
| Land Assessment | $259,350 | Total Assessment | $826,350 |
PROPERTY TAXES
Parcel Number
BETH-000022-000021-000001
Land Assessment
$259,350
Improvements Assessment
$567,000
Total Assessment
$826,350
Contacts
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Brian Pfohl -
Thomas Carr -
Christopher Bosworth -
Rob Robledo -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE
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Smithland Pet & Garden Center | 74 South St
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