1300 Main St Meriden, CT 06451

Exceptional investment opportunity featuring a brand-new, 12,424 square foot Caliber Collision auto body shop located at 1300 S Main St, Meriden, CT 06451. This fee-simple property boasts a 15-year absolute NNN lease with a prominent national tenant, commencing February 28, 2025, and expiring February 29, 2040. The lease includes a 10% rent increase every five years, providing built-in inflation protection. The property sits on a 4.09-acre lot and offers a 6.15% cap rate with a current NOI of $319,516. The asking price is $5,195,378, translating to $418.17 per square foot. The tenant, Caliber Collision, is the nation's largest auto body repair company, providing a strong corporate guarantee and mitigating risk. This investment is situated in a densely populated area within the New Haven-Hartford-Waterbury MSA, benefiting from high traffic and strong local demographics. The lease includes two 5-year renewal options, further enhancing the long-term value of this exceptional investment. The property is 100% occupied and suitable for a 1031 exchange. Year built is 2025.