20 Prospect St Plainfield, CT 06354
- Retail properties
- 14,229 SF
Current Use by Public Records
- Walgreens Photo / Passport Photo Processor / Photo Lab
- Walgreens / Cosmetics Store / Greeting Card Shop
- FedEx OnSite / Mailing Service
- Coinhub Bitcoin ATM Teller / Atm
- Walgreens Pharmacy / Pharmacy
Property Details for 20 Prospect St
- Property size
- 14,229 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional retail investment opportunity presents a 14,229 square foot property in Plainfield, Connecticut, currently occupied by a Walgreens and a pizzeria. The property boasts a strong 8.5% cap rate, generating a net operating income (NOI) of $136,500. The Walgreens lease, a triple net (NNN) lease with a corporate guarantee, extends until January 31, 2034, offering a substantial remaining term of 9.2 years. Walgreens reimburses 75% of all expenses. The pizzeria tenant is also committed, willing to sign a 5-year renewal with a rent increase, unless the new owner prefers otherwise. The property is strategically located at 20 Prospect St, Plainfield, CT 06354, conveniently situated near Interstate-395. The asking price is $1,605,000, translating to a price per square foot of $112.80. The lease includes three 5-year renewal options, ensuring long-term stability and income potential. This is a 100% occupied, multi-tenant property offering a secure and lucrative investment opportunity. The property is offered with 100% ownership.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plainfield
- County
- Windham
- State
- Connecticut
- Longitude
- -71.8825
- Latitude
- 41.713
