465 Providence Rd Brooklyn, CT 06234-1818
This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts storefront located at 465 Providence Road in Brooklyn, Connecticut. The property boasts a strong 8.25% cap rate and a substantial net operating income (NOI) of $112,000. The tenant, Advance Auto Parts, is a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB- from S&P and Baa2 from Moody's) and over $11.3 billion in annual sales (2023). This provides significant security for investors. The current lease, a triple-net (NNN) agreement, commenced on July 13, 2006, and has a remaining term of approximately 1.7 years, followed by two 5-year options with a 10% rent increase at each option period. The property sits on a 0.88-acre lot and was built in 2006. The high-traffic location on Providence Road, combined with strong local demographics (average household income exceeding $80,000 within a 5-mile radius), ensures consistent demand. This is a rare opportunity to acquire a well-established, recession-resistant retail property backed by a financially sound, national brand. The asking price is $1,357,576.
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Advance Auto Parts Auto Parts Store
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UPS Access Point location Courier Service Postal Service
The Planned Commercial (PC) Zone is intended to provide for those commercial uses which will accommodate the broad range of retail shopping, service and office space that will economically enhance the community while maintaining the sense of community and character of the Town of Brooklyn as outlined in the Town’s Plan of Conservation and Development. 4.D.2.…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PC · Brooklyn, CTThe Planned Commercial (PC) Zone is intended to provide for those commercial uses which will accommodate the broad range of retail shopping, service and office space that will economically enhance the community while maintaining the sense of community and character of the Town of Brooklyn as outlined in the Town’s Plan of Conservation and Development. 4.D.2. PERMITTED PRINCIPAL USES 4.D.2.1. AGRICULTURAL-RELATED USES 1. Farmers’ Markets in accordance with Sec. 6.L.4. Zoning Permit (staff) 4.D.2.2. RESIDENTIAL-RELATED USES 1. Not permitted 4.D.2.3. BUSINESS-RELATED USES 1. Retail Use Special Permit (PZC) 2. Personal Services Special Permit (PZC) 3. Restaurant, including fast food restaurant but not drive in restaurant Special Permit (PZC) 4. Office - Business or Administrative Special Permit (PZC) 5. Bank Special Permit (PZC) 6. Licensed Health Service Special Permit (PZC) 7. Banquet Hall and/or Caterer’s Establishment Special Permit (PZC) 8. Hotel/Motel Special Permit (PZC) 9. Child Day Care Center / Adult Day Care Center Special Permit (PZC) 10. Health Club and/or Membership Club Special Permit (PZC) 11. Automobile Sales Special Permit (PZC) 12. Automotive Service Station Special Permit (PZC) 13. Gas station Special Permit (PZC) 14. Theater Special Permit (PZC) 15. Indoor Sports and Recreation Special Permit (PZC) 16. Itinerant Vendors in accordance with Sec. 6.L.2. Zoning Permit (staff) 17. Seasonal Vendors in accordance with Sec. 6.L.3. Special Permit (PZC) 18. Retail sale of cannabis by a Cannabis Retailer, or retail sale of cannabis and medical marijuana by a Hybrid Retailer, in accordance with Sec.6.S. Special Permit (PZC) BROOKLYN ZONING REGULATIONS 4.D Effective May 1, 2024 BUSINESS ZONES PLANNED COMMERCIAL ZONE 73 19. Self-storage facility in accordance with Sec. 6.T. Special Permit (PZC) 4.D.2.4. MIXED USES 1. Not permitted. 4.D.2.5. INDUSTRIAL-RELATED USES 1. Public or Private Access to Industrial Zone Property Special Permit (PZC) 4.D.2.6. INSTITUTIONAL-RELATED USES 1. Municipal facilities for the Town of Brooklyn Site Plan Review (PZC) 2. Education Center Special Permit (PZC) 3. Community Center Site Plan Review (PZC) 4.D.2.7. OTHER USES 1. Utility facilities such as electrical substations, sewer pump stations, water tanks, and similar facilities whether as a principal use or an accessory use. Special Permit (PZC) While uses not listed are prohibited, the Commission recognizes that it is not always possible to list every conceivable use that might be considered appropriate in each zone.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
