Take 5 Oil Change 1683 Barnum Ave 1,730 SF Retail Building Stratford, CT 06614 $1,653,543 ($955.81/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-Year, true NNN, sale leaseback at close of escrow
- 10% rental increases every 5 years during primary term & option periods
- Rare opportunity to purchase a nationally branded absolute NNN asset in Fairfield County , Connecticut, with $90K HH Incomes and over 100K residents i
- New construction building with 3-service bays, has been open and operating since July 2023 with a proven track record
- Excellent visibility & signage from the corner location of Barnum Avenue (Route 1) and W Broad Street with 21K VPD on the hard corner
- High barrier of entry store location within approximately 1-mile of the 160,000 SF Stratford Square and the Walmart/Home Depot anchored Stratford Cros
EXECUTIVE SUMMARY
This Take 5 Oil Change features a 15-year sale leaseback with 10% rental increases every 5 years during the primary term. Strong national tenant, with parent company system-wide sales of over $6.2 billion (FY, 2023). A proven location in a dense residential & retail area with over 100,000 residents in a 3-mile radius and traffic counts exceeding 21K VPD at the signalized corner intersection.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Building Size
1,730 SF
Building Class
B
Year Built
2023
Price
$1,653,543
Price Per SF
$955.81
Cap Rate
6.35%
NOI
$105,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.38 AC
Parking
7 Spaces (4.05 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (82)
NEARBY MAJOR RETAILERS
