15 Hazard Ave, Enfield, CT 06082-3711
- Showrooms
- 6,285 SF
- 0.33 lot acres
Current Use by Public Records
- Red Robin Gourmet Burgers and Brews / Restaurant
Property Details for 15 Hazard Ave
- Year built
- 2004
- Construction
- STEEL FRAME
- Lot size
- 0.33 lot acres
- Zone code
- BR
- Property type
- Showrooms
- APN
- ENFI M:045 L:0076
- APU
- ENFIM045L0076
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 9, 2026 | — | Altantic Cap Com Re LLC | Paramount Commons At Enfi | Warranty Deed | $2.8M · Rockland Trust Co |
| Mar 6, 2020 | — | Paramount Commons At Enfl | — | Deed · related | $33.3M · Investors Bank |
| Jul 21, 2015 | $1,795,000 | Paramount Cmns At Enf | Rr Realty Of Enfield LLC | Warranty Deed | $31.5M · Investors Fsb |
| Dec 3, 2013 | — | Rr Realty Of Enfield LLC | — | Deed Of Trust · related | $6.8M · Peoples Bank |
| Apr 7, 2005 | $3,160,000 | Rr Rlty Enfield LLC | Sea Enfield Commons LLC | Grant Deed | $2.7M · Bank Of Western Massachusetts |
Description
This exceptional investment opportunity presents the fee-simple interest in a single-tenant, absolute NNN ground lease Red Robin restaurant located at 15 Hazard Avenue in Enfield, Connecticut. Built in 2004, this 6,350 square foot restaurant boasts a prime location within Enfield Commons, enjoying excellent visibility and frontage along Hazard Avenue (CT Route 190), a major commercial thoroughfare. The property benefits from its proximity to Interstate 91 and US Route 5, ensuring high traffic counts exceeding 28,600 vehicles daily. The site is strategically positioned adjacent to the Enfield Square Mall and surrounded by a robust mix of national retailers, grocers, and restaurants, creating a strong retail environment and captive customer base. The current lease, commencing August 1, 2015, and expiring July 31, 2035, offers a substantial remaining term of 10.7 years, with four 5-year renewal options. Attractive 10% rent increases are built into the lease every five years, providing a hedge against inflation and increasing revenue streams. The property sits on a 0.33-acre lot and features a 6.75% cap rate with a current NOI of $262,900 and an asking price of $3,894,815. The corporate-guaranteed lease requires zero landlord responsibilities, making this an ideal passive investment. The strong tenant, Red Robin Gourmet Burgers, Inc., reported $1.3 billion in revenue in 2023, demonstrating financial stability. The surrounding area boasts a dense population within a 3-5 mile radius, with average household incomes exceeding $118,739 and $139,154 respectively. This location is considered a top performer within the Red Robin system, both in Connecticut and nationally.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $818,000
- AI Estimate
- $763,000
Market price range: $330k - $818kMarket price range: $236k - $763k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $585,000 Current use
- RESTAURANT
- $1,075,000 Change: +84% Conversion: Difficult
- RETAIL STORES
- $725,000 Change: +24% Conversion: Easy
- OFFICE BUILDING
- $695,000 Change: +19% Conversion: Easy
- AUTO REPAIR, GARAGE
- $630,000 Change: +8% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Enfield
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.5824
- Latitude
- 41.9906
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
