20 & 24 Pershing Drive 2 Retail Properties Offered at $8,500,000 in Ansonia, CT

Angel Commercial, LLC, as the exclusive broker, is pleased to present a rare investment opportunity—a fully leased retail shopping center at 20 & 24 Pershing Drive in Ansonia, CT, available for purchase at $8,500,000. This highly visible, income-generating property spans 21,842 RSF and boasts a 2024 NOI of $665,892, delivering an attractive 7.83% cap rate. With a strong tenant mix and long-term NNN leases, this property ensures stable cash flow and future growth potential, making it an excellent opportunity for investors seeking a low-risk, high-reward asset.
The shopping center is anchored by nationally recognized tenants, including CVS Pharmacy and Burger King, both of which have maintained longstanding tenancy for decades, providing stability and consistent rental income. CVS occupies 66% of the leasable space, having been a tenant for 40 years, while Burger King, which occupies 14%, has been in place for 34 years. Additional tenants include Tommy’s Tanning, occupying 13% of the property for 18 years, and Charged Ansonia, a tenant for 4 years leases 7% of the space with scheduled rent increases. The structured additional rents and pro-rata share allocations further enhance the investment’s financial security, ensuring steady income streams and long-term value appreciation.
Strategically located on 2.05 acres, the shopping center consists of two free-standing buildings totaling 23,046 SF, positioned at a high-traffic, four-way signalized intersection. The property features 460 linear feet of frontage along Pershing Drive, with three curb cuts, and an additional 195 linear feet of frontage along Division Street with another curb cut, maximizing accessibility and exposure.
The 20 Pershing Drive building, a 4,198 SF freestanding structure built in 1977 and renovated in 2015, is leased to Burger King under a long-term NNN agreement with scheduled rent increases and a percentage of gross sales.
The 24 Pershing Drive building, an 18,851 SF structure built in 1962 with a new roof installed in 2018, is anchored by a 24-hour CVS occupying 14,373 RSF under a long-term NNN lease with built-in rent escalations and a percentage of gross sales upon meeting revenue thresholds. Additional tenants at this location include Tommy’s Tanning, leasing 2,819 RSF under an NNN lease, and Charged Ansonia, leasing 1,500 SF with scheduled rent increases.
The property is located in a Commercial (C) Zone, which permits a diverse range of uses, including retail, offices, restaurants, banks, and personal services, increasing its long-term investment flexibility. It is situated in the heart of the Pershing Drive retail corridor, a well-established commercial hub known for its strong mix of businesses and consumer traffic. The shopping center also benefits from convenient access to Route 8, ensuring steady foot traffic and direct connectivity to surrounding cities such as Derby, Shelton, and Waterbury.
This turnkey investment opportunity presents a chance to acquire a fully leased retail center in a high-demand market with strong, creditworthy tenants, built-in rental escalations, and a stable NOI. With a cap rate of 7.83%, this asset offers immediate returns with long-term income growth potential. For more information, please contact Jon Angel, President, Angel Commercial, LLC, at (203) 335-6600, Ext. 21.