20 Prospect StPlainfield, CT 06354

Property Details for 20 Prospect St

Property size (Sq ft)

14,229 SF

Property type

Retail properties

Property subtype

Other retail properties

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.

Location Insight

City

Plainfield

County

Windham

State

Connecticut

Latitude

41.713

Longitude

-71.8825

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