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Building 1 482-496 S Broad St 26,260 SF 100% Leased Retail Building Meriden, CT 06450 $6,250,000 ($238.00/SF)
INVESTMENT HIGHLIGHTS
- E-Commerce Resistant Tenant Mix
- Strong National/Regional Credit Profile
- Demographic Depth and Spending Power
- Attractive Yield at a Discounted Basis
- Proven Operating History
- Prime Location Along Meriden’s Retail Corridor
EXECUTIVE SUMMARY
Colliers is pleased to present the opportunity to acquire the long-term leasehold position in 496 South Broad Street, a ±26,260 square foot multi-tenant retail center in Meriden, Connecticut. Positioned along Route 5, one of the region’s most established retail corridors, the property benefits from strong traffic counts (~17,000 VPD), excellent visibility, and adjacency to national retailers including Big Y, Burlington, Kohl’s, Aldi, and Lowe’s.
Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage.
With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.
Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage.
With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
26,260 SF
Building Class
B
Year Built
2007
Price
$6,250,000
Price Per SF
$238.00
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
2.83 AC
Zoning
M-3
Parking
100 Spaces (3.81 Spaces per 1,000 SF Leased)
Frontage
425’ on Broad St
AMENITIES
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | MERI-000805-000311-000001G | Improvements Assessment | $4,340,000 |
| Land Assessment | $1,190,000 | Total Assessment | $5,530,000 |
PROPERTY TAXES
Parcel Number
MERI-000805-000311-000001G
Land Assessment
$1,190,000
Improvements Assessment
$4,340,000
Total Assessment
$5,530,000
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Building 1 | 482-496 S Broad St
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