Listing Agency: Angel Commercial LLC Show Phone

Listed By: Jon Angel · License #REB.0755898

Source: Crexi

Added: Apr 12 Changed: Aug 8 Last Checked: Jul 22 at 11:52AM

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Investment Insights

Based on property information with market context.

The Connecticut PPG Portfolio includes two fully leased properties. The portfolio is comprised of a 6,700 RSF single-story retail building at 211 White Street in Danbury, CT and a 6,615 RSF one-story retail building at 1225 Thomaston Avenue in Waterbury, CT, with each property structured as a net-leased asset. The Danbury offering also includes a 3,289 RSF multifamily house renovated in 2012, currently generating $38,700 annually from month-to-month agreements with three tenants. A new roof was installed in 2022 for the Danbury retail building.

Both retail properties are described as being located near or on main streets with strong accessibility and visibility. The remarks also note that each is close to major highways, and the Waterbury location includes abundant parking.

The portfolio is fully leased to PPG Paints with a corporate guarantee from a Fortune 500 Company through 12/31/2024. The projected 2022 NOI for the portfolio is $212,050, and the assets may be purchased individually or together.

Key Highlights

• Connecticut PPG portfolio includes two fully leased properties in Danbury and Waterbury, totaling approx. 16,601 RSF
• Projected 2022 NOI: $212,050; offered at $2,150,000 in its entirety or as individual assets
• PPG Paints lease with corporate guarantee from a Fortune 500 Company through 12/31/2024

Property Analytics

Current Use

Ppg Paints Hardware & Home Improvement

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Locksmith Garden Center Pet Grooming Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2,019

Businesses Nearby

20k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 51% Dining 41% Home Improvements & Furnishings 8%

SONIC Drive In Dining

7,523 visits/mo 0.3 miles

Mobil Shops & Services

4,581 visits/mo 0.4 miles

Valvoline Instant Oil Change Shops & Services

3,559 visits/mo 0.1 miles

Gulf Oil Shops & Services

1,956 visits/mo 0.5 miles

PPG Paints Home Improvements & Furnishings

844 visits/mo 0.1 miles

Demographics for 06810, CT

55,200

Population

22,128

Households

2.5

Avg Household Size

37

Median Age

31%

College-Educated

82%

High-School Grad

20.9 sq mi

ZIP Area

2,641

Density / Sq Mi

$74,373

Median Household Income

$42,425

Median Earnings

$1,816

Median Rent

$351,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Two fully leased one-story retail properties are offered as a Connecticut portfolio to PPG Paints.

Where is this retail space located?

The property is located at 211 White St #1 Danbury, CT.

What are key features of this property?

This property features: Connecticut PPG portfolio includes two fully leased properties in Danbury and Waterbury, totaling approx. 16,601 RSF; Projected 2022 NOI: $212,050; offered at $2,150,000 in its entirety or as individual assets; PPG Paints lease with corporate guarantee from a Fortune 500 Company through 12/31/2024