465 Providence Rd, Brooklyn, CT 06234
- Showrooms
- 6,791 SF
- 0.95 lot acres
Current Use by Public Records
- Advance Auto Parts / Auto Parts Store
- UPS Access Point location / Courier Service / Postal Service
Property Details for 465 Providence Rd
- Year built
- 2006
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.95 lot acres
- Zone code
- PC
- Property type
- Showrooms
- APN
- BROO M:41 L:112
- APU
- BROOM41L112
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 7, 2012 | $2,279,733 | Hfo & Assoc LLC | Primax Properties LLC | Warranty Deed | $1.5M · Valley National Bank |
| Sep 16, 2005 | $247,500 | Primax Properties LLC | Bissonnette,brian JR | Warranty Deed | — |
| Oct 26, 2004 | — | Brian Bissonnette JR. | — | Deed Of Trust · related | $104k · Aegis Mortgage Corp |
| Aug 5, 2003 | — | Tonia Bissonnette | — | Deed Of Trust · related | $75k · Aames Funding Corp |
| Dec 24, 1997 | — | Greta Spicer | — | Deed Of Trust · related | $40k · New London Trust |
Description
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.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $911,000
- AI Estimate
- $848,000
Market price range: $374k - $912kMarket price range: $375k - $848k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $610,000 Current use
- RETAIL STORES
- $685,000 Change: +13% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $595,000 Change: -3% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Windham
- State
- Connecticut
- Longitude
- -71.9102
- Latitude
- 41.7969
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
