809 Wolcott Ave Waterbury, CT 06705

Property Details for 809 Wolcott Ave

Year built

1976

Lot size

0.53 lot acres

Property size

3,951 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 3,951 square foot auto shop in Waterbury, CT, boasting a 100% occupancy rate with a strong corporate tenant under a net lease agreement. The property, situated on a 0.53-acre lot at 809 Wolcott Ave, features a 50-year lease (expiring 10/31/2026), with a remaining term of approximately 1.9 years and a five-year option period with a 7% rent increase. Built in 1976 and renovated in 2016, the property includes a brand new roof (2023) with a 20-year transferable warranty and a recently repaved parking lot (2023). The property benefits from a high-traffic location on Wolcott Street, exceeding 25,000 vehicles per day, and is surrounded by national retailers including Walmart, Stop & Shop, and others. The strong demographics, with an average household income exceeding $80,752 within a 5-mile radius, further enhance the investment potential. The asking price is $885,000, representing a 7.12% cap rate and a NOI of $63,000. This is a rare opportunity to acquire a stable, high-performing asset with a long history of occupancy and minimal landlord responsibilities. The tenant's strong corporate backing and the below-market rental rate contribute to the overall attractiveness of this investment.