Starbucks 1166 E Main St 2,084 SF Retail Building Torrington, CT 06790 $2,239,040 ($1,074.40/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Newer Construction
- Attractive Rent Increases
- Strategic Location
- Long-Term Lease
- Investment Grade Credit
- High Traffic Counts
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a newer construction (2022) Starbucks located at 1166 East Main Street in Torrington, Connecticut (the “Property”). Starbucks has 7+ years remaining on their primary lease with six (6), 5-year renewal options. The lease features rent increases every five years throughout the primary lease term and at the start of each renewal option. The Property is strategically located along East Main Street (US-202) at the signalized intersection with Buena Vista Avenue and directly in front of a BJ’s Wholesale Club-anchored retail center. The Property enjoys excellent frontage, access, visibility and signage along East Main Street, with additional frontage on Buena Vista Avenue and a second access point on Albany Street. East Main Street is Torrington’s primary retail and commercial corridor, where the Property is situated between Torrington’s downtown and an extensive retail trade area punctuated by Walmart, Home Depot, Stop & Shop and Market 32.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,084 SF
Building Class
C
Year Built
2022
Price
$2,239,040
Price Per SF
$1,074.40
Cap Rate
6.25%
NOI
$139,940
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.52 AC
Parking
12 Spaces per 1,000 SF Leased
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the Company is the premier roaster and retailer of specialty coffee in the world. Through their unwavering commitment to excellence and their guiding principles, they bring the unique Starbucks Experience to life for every customer through every cup.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | TORR-000133-000011-000001 | Improvements Assessment | $295,210 |
| Land Assessment | $70,270 | Total Assessment | $365,480 |
