124 Costello Rd, Newington, CT 06111-5156

This 14,122 sq ft industrial building in Newington, CT, is net leased to Ferguson, a credit-worthy tenant with a long-term lease (expiring 7/31/2030, with a 5-year option). Situated on a 4.77-acre lot in a dense retail corridor near major national retailers, the property boasts a 7% cap rate and a strong NOI of $188,760. Built in 1985 with recent HVAC upgrades (2023), the building features 22' eaves, 18.6' clear height, three grade-level drive-in docks, and two flush loading docks. The property offers significant upside potential with a rent bump in 2030 ($16,675/month). The affluent demographics (median household income over $93,000) and Ferguson's long history at this location (nearly 25 years) contribute to the property's exceptional investment value. This fee-simple ownership opportunity provides a stable income stream with a modified NNN lease structure and a corporate guarantee. The property's size and location make it an attractive investment for those seeking long-term returns in a thriving market. The building also includes approximately 5,482 square feet of office space and ample parking (25 spaces, 1.77 parking ratio). The property is zoned PD.