333 Church St, Unit 1, Naugatuck, CT 06770-2806

Property Details for 333 Church St

Year built

1997

Construction

STEEL FRAME

Lot size

2.34 lot acres

Zone code

R8

Property type

Office 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.

Location Insight

City

Naugatuck

County

New Haven

State

Connecticut

Longitude

-73.0537

Latitude

41.4944

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments