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Bank

Liberty Bank Condo

333 Church St, Naugatuck, CT 06770

Listing Price: $1,715,000

Cap Rate
5.25%
Tenant Name
Liberty Bank
Years Remaining On Lease
13.1
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$285.83
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.00

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 almost $130 million. Condo Unit #2 is responsible for reimbursing 30.9% of the property’s utility expenses and 40% of the property’s common area expenses. 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.

Investment Highlights

  • NNN Lease with 14 Years Remaining
  • Includes 4 Drive-Thru Lanes
  • Walking Distance to the Naugatuck Commuter Rail Station

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.0752012

    Connecticut

Listing Price: $1,715,000

Cap Rate
5.25%
Tenant Name
Liberty Bank
Years Remaining On Lease
13.1
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$285.83
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.00

Investment Highlights

  • NNN Lease with 14 Years Remaining
  • Includes 4 Drive-Thru Lanes
  • Walking Distance to the Naugatuck Commuter Rail Station

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 almost $130 million. Condo Unit #2 is responsible for reimbursing 30.9% of the property’s utility expenses and 40% of the property’s common area expenses. 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.

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.0752012

    Connecticut

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