560 Durham Rd, Madison, CT 06443-2060
- Day care centers
- 3,086 SF
- 1.06 lot acres
Current Use by Public Records
- Learning Tree of Madison / Daycare Center
Property Details for 560 Durham Rd
- Year built
- 1962
- Construction
- FRAME
- Lot size
- 1.06 lot acres
- Zone code
- RU-1
- Property type
- Day care centers
- APN
- MADI M:89 B:42
- APU
- MADIM89B42
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 10, 2024 | $1,085,000 | 560 Durham LLC | Nld Madison LLC | Warranty Deed | $565k · Us Bank NA |
| Apr 1, 2024 | $660,000 | Ndl Madison LLC | Joyner And Joyner LLC | Warranty Deed | — |
| Mar 14, 2012 | $262,500 | Joyner & Joyner LLC | Saint Raphael Healthcare | Warranty Deed | $433k · Guilford Savings Bank |
| Dec 14, 2010 | $1 | Saint Raphael Health INC | Vna Services INC | Grant Deed · related | — |
Description
This exceptional investment opportunity presents a fee-simple ownership of a 5,668 square foot daycare center in Madison, Connecticut. The property, built in 1962 and renovated in 2024, sits on a 1.06-acre lot and boasts a new 15.2-year net lease (commencing July 21, 2024 and expiring September 30, 2039) with a corporate guarantee from Busy Bees, a globally recognized childcare provider with over 990 centers worldwide and 119 in the US. The lease includes 10% rent bumps every five years, minimizing landlord responsibilities. The current annual net operating income (NOI) is $80,000, resulting in a 6.75% cap rate and a price per square foot of $209.10. The tenant, BrightPath (a Busy Bees subsidiary), is undertaking approximately $400,000 in tenant improvements. This single-story building is located in a high-income area ($206,000+ average household income within a 1-mile radius, projected to grow 10%+ by 2028) near major retailers like Starbucks and Wells Fargo. The property's strategic location, as an expansion of an existing BrightPath center across the street, ensures high occupancy (currently 100%). The asking price is $1,185,185. Lease options of 3 and 5 years are available. This is a rare opportunity to acquire a low-price-point, high-growth potential property with a strong, financially secure tenant.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,085,000
- ML approach
- $1,085,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.6063
- Latitude
- 41.3171
- CBSA code
- 35300
- CBSA name
- NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA
