320 Kings Hwy Fairfield, CT 06825
- Showrooms
- 6,062 SF
- 0.31 lot acres
Current Use by Public Records
- Fairfield Family Dental Group / Cosmetic Dentist / Dental Clinic
- Family Dental Group of Fairfield / Dentist / Cosmetic Dentist
- Advanced Neurotherapy LLC / Biofeedback Therapist
- Dr. Michael Nishi / Dentist / Prosthodontist
- Rose and Sophia Nails / Nail Salon
Property Details for 320 Kings Hwy
- Year built
- 1960
- Construction
- FRAME
- Lot size
- 0.31 lot acres
- Property size
- 6,062 SF
- Zone code
- DCD
- Property type
- Showrooms
- APN
- FAIR M:40 B:337
- APU
- FAIRM40B337
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 6,568 square-foot CityMD urgent care facility located at 320 Kings Hwy E, Fairfield, CT 06825. The property sits on a 0.31-acre lot and boasts a 10-year triple-net (NNN) lease commencing September 30, 2024, and expiring September 30, 2034, with a remaining term of 9.9 years. The current annual net operating income (NOI) is $225,000, representing a 5.75% cap rate and a price per square foot of $595.77. The lease includes a corporate guarantee from CityMD, a leading urgent care provider with over 150 locations. The property underwent a complete renovation in 2024, ensuring modern, state-of-the-art facilities. The lease features attractive rental increases of 10% every five years, providing a strong hedge against inflation. This investment benefits from the exceptional demographics of Fairfield County, Connecticut, with a high average household income ($101,650) and a dense population exceeding 247,000 residents within a five-mile radius. The property's location and tenant strength make this a compelling investment opportunity with significant long-term potential. The asking price is $3,913,043. This is a 100% occupied, single-tenant property. The building was originally constructed in 2003.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,370,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,455,000
- 6.5%
- $1,400,000
- 7%
- $1,400,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,460,000
- Geo Method
- $1,545,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,730,000
- Retail
- $1,815,000
- Mixed-Use
- $1,485,000
- Hospitality
- $1,695,000
- Educational
- $1,375,000
- Residential Income
- $1,580,000
- Energy
- $1,855,000
- Income-Based Land
- $1,705,000
- Food Service
- $1,405,000
Location Insight
- Map
- Local Demand
- City
- Fairfield
- County
- Fairfield
- State
- Connecticut
- Longitude
- -73.2285
- Latitude
- 41.1745
- CBSA code
- 14860
- CBSA name
- BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA
