Investment Overview

The subject property is a Liberty Bank condo (Unit #2) located in Naugatuck, Connecticut. The 6,000 square foot condo is within a 28,000 square foot building. The building sits on 2.34 acres of land and there are four condo units within the building. Liberty Bank recently exercised a 15-year lease extension that expires in 2034. Additionally, the tenant has three five-year options to extend the lease with 5% rental increases at the beginning of each option. This location includes four drive-thru lanes and annual deposits for this location are over $125 million. The property is located on Church Street and is conveniently located less than half a mile from the Naugatuck Commuter Rail Station providing access to New Haven and Manhattan. New Haven is less than 20 miles from the property. The area has strong demographics with over 123,000 people living within a five-mile radius and an average household income exceeding $88,000. Nearby retailers include CVS, Family Dollar, Big Y, AutoZone, Dunkin Donuts, KFC, Naugatuck YMCA, Bank of America, and more.