151 Washington Ave 2,302 SF Retail Building North Haven, CT 06473 $2,944,000 ($1,278.89/SF) 6.25% Cap Rate

151 Washington Avenue features a 2020 new construction Citizens Bank prototype building consisting of approximately 2,302 SF with a drive-thru ATM that is ideally located on a +/- 0.39 acre parcel. This property is located in a well established market and one that Citizens specifically targeted to relocate to from their prior location, which was 0.2 miles south at 127 Washington Avenue. There are strong daily traffic counts of 19,700 ADT on Route 5/Washington Avenue which is one of the main retail corridors connecting the surrounding communities and sits just 0.2 miles from on/off ramps to Interstate 91 which has daily traffic counts exceeding 85,000+. The 5-mile population exceeds 106,000 and the average household income exceeds $140,500+ within 3 miles of the property. The township is within New Haven County - just 9 miles from New Haven, 30 miles from Hartford, 88 miles from New York and 128 miles from Boston. The nearest Citizens branches are located 5 miles west in Hamden, 6.7 miles south in East Haven, and 15.7 miles north in Middletown. This location will continue to service a large established trade area in a high barrier to entry northeast market.
North Haven, CT presents the rare opportunity to own a northeast asset that was newly built in 2020 with a lease featuring attractive rent increases throughout the lease. The property is ideally positioned in an established and well travelled market with a long term lease and a corporate guaranty. North Haven, Connecticut is a highly desirable suburban community located in New Haven County within the Greater New Haven region. Positioned approximately 9 miles north of New Haven and 30 miles south of Hartford, the town benefits from strong regional connectivity and proximity to major employment centers. Given the strong demographic profile, North Haven provides a stable and affluent consumer base that supports a diverse mix of retail, service, and commercial uses. The town offers excellent accessibility via Interstate 91, which runs directly through North Haven and provides convenient connections to New Haven, Hartford, and the broader New England region. In addition, the nearby Merritt Parkway (Route 15) offers direct access to Fairfield County and the New York metropolitan area, making North Haven an attractive commuter location for both residents and businesses. North Haven also benefits from its proximity to major academic and employment institutions, including Quinnipiac University (enrollment of 9,200+), which operates a graduate campus within the town of North Haven, and Yale University located just minutes away in downtown New Haven. These institutions contribute to a highly educated workforce and generate consistent demand for housing, retail, and services throughout the area. The community features a strong economic base supported by industrial parks, regional employers, and continued investment in the surrounding Greater New Haven market. Combined with its strategic highway access, strong demographics, and high quality of life, North Haven remains an attractive location for families, businesses, and commercial investment.