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Restaurant

Taco Bell

224 Kukas Ln, Waterbury, CT 06705

Listing Price: $2,778,000

Cap Rate
4.50%
Tenant Name
Taco Bell
Years Remaining On Lease
15.0
Gross SF
2,053
Guarantor
Franchisee Guarantee
Rentable SF
2,053
Price/Gross SF
$1,353.14
Lease Type
Ground Lease
Rent Per Square Feet
$60.89

Investment Overview

The property is a newly constructed (under construction) Taco Bell located in Waterbury, Connecticut. The property will consist of a 2,053 square foot building that sits on 0.94 acres of land. The tenant operates on a brand new 15-year NNN Ground Lease and three five-year options. There are 10% rental increases every five years throughout the base term and option periods, hedging against inflation. Construction is set to be completed in 2021 and Cantina Hospitality, a successful Taco Bell Franchisee with 75 Taco Bell Restaurants and 50 Applebee’s restaurants, guarantees the lease. Taco Bell is adjacent to I-84 with traffic counts that exceed 92,200 vehicles per day. The property is situated right next to a BJ’s Wholesale Club, Stop & Shop, Raymour & Flanigan, Aldi, CVS, Subway, McDonald’s, Burger King, Dunkin’ and more. Taco Bell is two miles from downtown Waterbury and the Brass Mill Center, which is a 1.2 million square foot shopping mall with 130 shops making it Connecticut's fifth largest mall. The property is less than 20 Miles from Downtown New Haven, Connecticut and less than 28 Miles from Downtown Hartford, Connecticut. Waterbury is the fifth largest city in Connecticut and is located on the Naugatuck River’s banks. Located in New Haven County with a population of 108,000 people, Waterbury is New England’s 9th largest city and the 10th biggest city in the New York Metropolitan Area. Taco Bell is just a short drive from Crosby High School, which has more than 1,100 students. Additional retail in the area includes Costco, Target, Walmart, Petco, Dick’s Sporting Goods, AutoZone and more.

Investment Highlights

  • Brand New 15-Year Ground Lease
  • 10% Rental Increases Every 5 Years
  • 2021 Construction with Drive-Thru

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

    (203) 672-3300

    License(s) CT: REB.0752012

    Connecticut

Listing Price: $2,778,000

Cap Rate
4.50%
Tenant Name
Taco Bell
Years Remaining On Lease
15.0
Gross SF
2,053
Guarantor
Franchisee Guarantee
Rentable SF
2,053
Price/Gross SF
$1,353.14
Lease Type
Ground Lease
Rent Per Square Feet
$60.89

Investment Highlights

  • Brand New 15-Year Ground Lease
  • 10% Rental Increases Every 5 Years
  • 2021 Construction with Drive-Thru

Investment Overview

The property is a newly constructed (under construction) Taco Bell located in Waterbury, Connecticut. The property will consist of a 2,053 square foot building that sits on 0.94 acres of land. The tenant operates on a brand new 15-year NNN Ground Lease and three five-year options. There are 10% rental increases every five years throughout the base term and option periods, hedging against inflation. Construction is set to be completed in 2021 and Cantina Hospitality, a successful Taco Bell Franchisee with 75 Taco Bell Restaurants and 50 Applebee’s restaurants, guarantees the lease. Taco Bell is adjacent to I-84 with traffic counts that exceed 92,200 vehicles per day. The property is situated right next to a BJ’s Wholesale Club, Stop & Shop, Raymour & Flanigan, Aldi, CVS, Subway, McDonald’s, Burger King, Dunkin’ and more. Taco Bell is two miles from downtown Waterbury and the Brass Mill Center, which is a 1.2 million square foot shopping mall with 130 shops making it Connecticut's fifth largest mall. The property is less than 20 Miles from Downtown New Haven, Connecticut and less than 28 Miles from Downtown Hartford, Connecticut. Waterbury is the fifth largest city in Connecticut and is located on the Naugatuck River’s banks. Located in New Haven County with a population of 108,000 people, Waterbury is New England’s 9th largest city and the 10th biggest city in the New York Metropolitan Area. Taco Bell is just a short drive from Crosby High School, which has more than 1,100 students. Additional retail in the area includes Costco, Target, Walmart, Petco, Dick’s Sporting Goods, AutoZone 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

    (203) 672-3300

    License(s): CT: REB.0752012

    Connecticut

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