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Single Tenant Industrial NNN 760 Newfield St 148,930 SF Industrial Building Middletown, CT 06457 $11,380,000 ($76.41/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 4+ Years Remaining | Options To Extend | Below Market Rent | CPI Based Rental Increases | Corporate Tenant | Recent Improvements
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
- Commitment To Site | Mission Critical Facility | Low Market Vacancy
- Strategic Location | Regional Connectivity | Rail Spur Infrastructure
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to present the opportunity to acquire the fee simple interest in a NNN-leased industrial facility located in Middletown, Connecticut. The property is 100% leased to Kloeckner Metals Corporation, a corporate entity of Kloeckner Metals, a top service center operator with 60+ locations across North America, 120+ locations globally, and $3.54 billion in assets reported in 2024. The lease has over 4 years of primary term remaining, with two (2) additional 5-year renewal options. The subject property is currently leased at $4.59 PSF, well below market rents for comparable industrial product in the area, which range from $6.00–$8.00 PSF. A CPI-based rental increase scheduled for 2030 offers investors a built-in inflation hedge and meaningful income growth, demonstrated by a 25% increase from the most recent CPI adjustment in September 2025. Kloeckner has operated at this location since 2005 and renewed the lease three times, highlighting a long-standing commitment to the site; the facility has functioned as a field processing and distribution center since 1959. Recent improvements include a full renovation of the office space completed by the tenant. Headwinds and rising construction costs have limited new industrial development in Central Connecticut, which has kept vacancy low and helped maintain rent stability.
PROPERTY FACTS
AMENITIES
- Fenced Lot
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,204,060 | |
| Land Assessment | $698,060 | Total Assessment | $2,902,120 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$698,060
Improvements Assessment
$2,204,060
Total Assessment
$2,902,120
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Single Tenant Industrial NNN | 760 Newfield St
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