Restaurant

Dairy Queen Grill & Chill

213 Chase Ave, Waterbury, CT 06704

Listing Price: $2,085,500

Cap Rate
5.75%
Tenant Name
Dairy Queen
Years Remaining On Lease
19.9
Gross SF
1,886
Guarantor
Personal Guarantee
Rentable SF
1,886
Price/Gross SF
$1,105.78
Lease Type
Absolute Net
Rent Per Square Feet
$63.63

Investment Overview

The subject property is a Dairy Queen located in Waterbury, Connecticut. The 1,886 square foot building sits on 1.10 acres of land and was constructed in 2020. Dairy Queen operates on an absolute NNN lease with 20 years remaining and four five-year options. The lease also includes 10% rental increases every five years. The lease is personally guaranteed by 213 Chase Avenue, LLC, which is a franchisee for Fairfield, Hartford, New Haven and Middlesex counties. Other successful concepts by this franchisee include Popeye’s as well as Dunkin Donuts. Directly across from the property is a 375,000 square foot shopping center anchored by Target and Stop & Shop. Being an absolute NNN lease, this is the perfect property for an investor looking for a passive investment with no landlord responsibilities. The property is centrally located on Chase Avenue, which has traffic counts over 22,600 per day. Positioned one mile from Route 8 and two miles from I-84, there is convenient access to the property. Dairy Queen is less than 23 miles from downtown New Haven and less than 30 miles from downtown Hartford. The area has strong demographics with over 151,000 people within a five-mile radius and an average household income over $73,000. Nearby retailers include Target, Stop & Shop, Aldi, Anytime Fitness, Dollar Tree, CVS, Sally Beauty, USPS, Subway, Starbucks, Taco Bell, McDonald’s, Dunkin’, Webster Bank, and more.

Investment Highlights

  • Absolute NNN Lease with 20 Years Remaining
  • 2020 Construction | Includes Drive-Thru
  • Directly Across from 375,000 SF Shopping Center
  • Centrally Located on Chase Avenue - ADT: 22,600

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    License(s): CT: REB.0791913

    Connecticut

Restaurant

Dairy Queen Grill & Chill

Listing Price: $2,085,500

Cap Rate
5.75%
Tenant Name
Dairy Queen
Years Remaining On Lease
19.9
Gross SF
1,886
Guarantor
Personal Guarantee
Rentable SF
1,886
Price/Gross SF
$1,105.78
Lease Type
Absolute Net
Rent Per Square Feet
$63.63

Investment Highlights

  • Absolute NNN Lease with 20 Years Remaining
  • 2020 Construction | Includes Drive-Thru
  • Directly Across from 375,000 SF Shopping Center
  • Centrally Located on Chase Avenue - ADT: 22,600

Investment Overview

The subject property is a Dairy Queen located in Waterbury, Connecticut. The 1,886 square foot building sits on 1.10 acres of land and was constructed in 2020. Dairy Queen operates on an absolute NNN lease with 20 years remaining and four five-year options. The lease also includes 10% rental increases every five years. The lease is personally guaranteed by 213 Chase Avenue, LLC, which is a franchisee for Fairfield, Hartford, New Haven and Middlesex counties. Other successful concepts by this franchisee include Popeye’s as well as Dunkin Donuts. Directly across from the property is a 375,000 square foot shopping center anchored by Target and Stop & Shop. Being an absolute NNN lease, this is the perfect property for an investor looking for a passive investment with no landlord responsibilities. The property is centrally located on Chase Avenue, which has traffic counts over 22,600 per day. Positioned one mile from Route 8 and two miles from I-84, there is convenient access to the property. Dairy Queen is less than 23 miles from downtown New Haven and less than 30 miles from downtown Hartford. The area has strong demographics with over 151,000 people within a five-mile radius and an average household income over $73,000. Nearby retailers include Target, Stop & Shop, Aldi, Anytime Fitness, Dollar Tree, CVS, Sally Beauty, USPS, Subway, Starbucks, Taco Bell, McDonald’s, Dunkin’, Webster Bank, and more.

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    License(s): CT: REB.0791913

    Connecticut

MM Texture Background
MM Textured Background Lower