15 Memorial BlvdBristol, CT 06010

Property Details for 15 Memorial Blvd

Year built

1935

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.58 AC

Property size (Sq ft)

26,387 SF

Zone code

BD-1

Property type

Retail properties

Property subtype

Other retail properties

APN

BRIS M:30 L:120

APU

BRISM30L120

Description

This exceptional investment opportunity presents a fully leased, 26,387 square foot retail building situated on a 1.58-acre lot in Bristol, Connecticut. The property, built in 1935, boasts three tenants: Dollar General and Liquor Depot among them, ensuring a stable income stream. The building features a single story design, central air and heating, high and drop ceilings, and ample on-site parking with a ratio of 6.31 spaces per 1,000 square feet. Located on Memorial Boulevard, the property benefits from high visibility and significant traffic, with an average daily traffic count of 9,950 vehicles. The 330-foot frontage provides excellent signage opportunities, including on-building and pylon signage. The property is zoned BD-1, offering flexibility for future development. With a strong net operating income (NOI) of $242,712 and an attractive asking price of $3,200,000, this represents a compelling 7.58% capitalization rate. The property's location in the heart of Bristol, combined with its strong tenant occupancy and favorable financial metrics, makes it an ideal addition to any investment portfolio. This is a rare opportunity to acquire a well-established, high-performing retail property in a desirable Connecticut market.

• CAP approach

  CAP return

  Valuation

  6%

  $6,412,962

  6.5%

  $5,919,658

  7%

  $5,496,824

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,688,268

  Geo Method

  $8,688,268

• Alternative Use

  Use

  Valuation

  Residential

  $4,993,452

  Hospitality

  $4,573,976

  Educational

  $3,805,494

  Medical

  $3,936,371

  Retail

  $5,919,658

Location Insight

City

Bristol

County

Hartford

State

Connecticut

Latitude

41.6707

Longitude

-72.942

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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