Torrington, CT

Price: $ 5,799,999
CAP Rate: 5.50%%
NOI: $ 319,207
Lease Term Remaining Before Options: ±8.5 Years
Investment Highlights
  • Absolute net lease with ±8.5 years remaining and 10 (5-year) options.
  • Only freestanding national brand drugstore within a two-mile radius with limited competition.
  • The average household is $90,721 in a 5-mile radius.
  • Located on Route 202, the main thoroughfare through Torrington.
Offering Summary

We are pleased to present the opportunity to purchase a Walgreens in Torrington, Connecticut. Walgreens has ±8.5 years remaining with 10 (5-year) options to extend. This is a true absolute net lease with no landlord responsibilities whatsoever.

 

This is the only freestanding national brand drugstore within a two-mile radius. Walgreens recently closed a store in Torrington limiting competition in the area. The average household income in a one-mile radius is $86,526, in a three-mile radius it is $82,786 and $90,721 in a five mile radius. Charlotte Hungerford Hospital is approximately 3 miles southwest from the subject property. This 109-bed facility is part of the Hartford Healthcare system and provides a variety of care options including 24-hour emergency services.

 

The subject property is located on Route 202, the main thoroughfare through Torrington and less than a mile from national retail tenants such as Walmart, Target, Starbucks, Michaels, The Home Depot, Big Lots, Famous Footwear and Bank of America. Automotive dealerships in the immediate area include Chrysler, Jeep, Dodge, Ram, Buick, GMC, and Chevrolet.

Price: $ 5,799,999
CAP Rate: 5.50%%
NOI: $ 319,207
Lease Term Remaining Before Options: ±8.5 Years