Smithland Pet & Garden Center
19,014 SF | Retail Building | Bethel, CT 06801 | $2,817,077 ($148/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,817,077
- Property Type
-
Retail
- Square Feet
- 19,014 SF
- Price / Square Foot
- $148
Listing Contacts
Brian Pfohl
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Thomas Carr
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Christopher Bosworth
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Rob Robledo
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Ty Grenier
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Kaitlyn Wolf
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Leah Lindell
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Abby Kelly
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- Property Info
Property Overview
CBRE is pleased to exclusively offer for sale the 19,014-total-square-foot Smithland Pet & Garden Center situated on 3.14 acres in Bethel, Connecticut—a component of the Bridgeport-Stamford-Norwalk, CT MSA (Population: 965,140). Smithland’s long-term absolute NNN lease features ±18.0 years of term remaining with 2.00% annual rent increases throughout the initial term and in each of the five 5-year renewal options. The lease also includes a corporate guaranty from CT Garden Holdings, LLC. This particular location generates strong revenues and EBITDAR-to-Rent coverage.
Property Details
- Class
- B
- Year Built
- 1991
- Stories
- 1
- Lot Size (sq. ft)
- 136,778 SF
Highlights
- New Absolute NNN Lease with 2% Annual Rent Increases
- Strong Site-Level Performance | Generates Strong EBITDAR-to-Rent Coverage
- Excellent Access & Visibility in Downtown Bethel
- Substantial Built-In Customer Base | Nearly 3,200 Households Within 1-Mile
- Affluent Demographics | Population of 103,787 & AHI of $122,495 within a 5-Mile Radius
- Bridgeport-Stamford-Norwalk, CT MSA Advantage | MSA Population 965,140
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