560 Durham Rd Madison, CT 06443-2060

Property Details for 560 Durham Rd

Year built

1962

Construction

FRAME

Lot size

1.06 lot acres

Property size

3,086 SF

Zone code

RU-1

Property type

Day care centers

APN

MADI M:89 B:42

APU

MADIM89B42

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,668 square foot daycare center in Madison, Connecticut. The property, built in 1962 and renovated in 2024, sits on a 1.06-acre lot and boasts a new 15.2-year net lease (commencing July 21, 2024 and expiring September 30, 2039) with a corporate guarantee from Busy Bees, a globally recognized childcare provider with over 990 centers worldwide and 119 in the US. The lease includes 10% rent bumps every five years, minimizing landlord responsibilities. The current annual net operating income (NOI) is $80,000, resulting in a 6.75% cap rate and a price per square foot of $209.10. The tenant, BrightPath (a Busy Bees subsidiary), is undertaking approximately $400,000 in tenant improvements. This single-story building is located in a high-income area ($206,000+ average household income within a 1-mile radius, projected to grow 10%+ by 2028) near major retailers like Starbucks and Wells Fargo. The property's strategic location, as an expansion of an existing BrightPath center across the street, ensures high occupancy (currently 100%). The asking price is $1,185,185. Lease options of 3 and 5 years are available. This is a rare opportunity to acquire a low-price-point, high-growth potential property with a strong, financially secure tenant.

Location Insight

City

Madison

County

New Haven

State

Connecticut

Longitude

-72.6063

Latitude

41.3171

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments