333 Church St Naugatuck, CT 06770

Property Details for 333 Church St

Year built

1997

Construction

STEEL FRAME

Lot size

2.34 lot acres

Property size

560 SF

Zone code

R8

Property type

Office Properties & Spaces

APN

NAUG M:047 L:2551

APU

NAUGM047L2551

Description

This exceptional investment opportunity presents a 6,000-square-foot retail condominium currently occupied by Liberty Bank, one of the oldest mutual savings banks in the U.S. Located at 333 Church St, Naugatuck, CT 06770, this property boasts a strong 15-year net lease (NNN) with a corporate guarantee, commencing May 30, 2019, and expiring May 29, 2034. The lease includes two five-year renewal options, ensuring long-term stability. The property features four drive-up teller stations and a walk-up ATM, reflecting its established presence within the community. Built in 1974 and significantly expanded in 1998, the building sits on a 2.34-acre lot with ample parking (80 spaces). The ground floor condo is part of a larger 23,000-square-foot office building, situated in a densely developed area near the town center. The surrounding neighborhood is a mix of commercial and residential properties, including prominent local businesses and institutions. The property's B-1 zoning designation further enhances its investment potential. The asking price is $1,333,000, representing a compelling 6.75% cap rate. Liberty Bank maintains over $100 million in deposits at this location, demonstrating a significant and stable financial commitment. This location has operated as a bank for over 40 years. The property is approximately 15 miles northwest of New Haven.