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Watertown, CT - Shops at Main Street

$1,550,000

620 Main Street, Watertown, CT 06795

Active
Last Updated: 09/13/2024

9

Cap Rate

140,300

NOI

Details:
Cap Rate:    9%
NOI:    $140,300
Building Size:    20,266 sqft
Lot Area:    0.79 acres
Occupancy:    50%
Year Built:    1945
Highlights:
  • New 5 Year Extenation | Value Add Opportunity | Starbucks in Mkt Established Pharmacy Location (Over 30 Yrs)
  • NNN leases | Limited Landlord Responsibilities | Fee Simple Ownership
  • Major Thoroughfare | Excellent Visibility & Access
  • Retail Corridor | Large Pylon Sign | Near Taft School
  • Affluent Population
Description:

• Walgreens took over this former Rite Aid location, and recently exercised their
5- year option to extend, demonstrating their commitment to the site
• Starbucks developed recently in the market. Site is prime for new construction
• The property has been a pharmacy for over 30 years and is well established in the trade area
• The asset also contains a cleaners and over 10,000 SF of second story space providing value-add through lease-up
• Adjacent property also available - Contact listing agent for details

• Nearby national/credit tenants include Marshalls, Adams Hometown Market, Starbucks, AutoZone, and more
• Increases consumer draw to the trade area and promotes crossover shopping
• Large pylon sign provides increased visibility
• The asset is located less than 3 miles from The Taft School, built on 226-acres with a student body of 580+
• The campus rivals those of many small colleges, including a library with 55,000 print volumes; a 45,000 square foot science and mathematics building; two theaters; two ice hockey rinks; and an 18-hole golf course

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