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Cumberland Farms

1359 Thomaston Ave, Waterbury, CT 06704

Listing Price: $3,150,000

Cap Rate
4.25%
Tenant Name
Cumberland Farms
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,816
Lease Type
NNN Ground Lease
Rent Per Square Feet
$27.80

Investment Overview

The subject property is a Cumberland Farms located in Waterbury, Connecticut. The property consists of a 4,816 square foot building along with six dispensers and 12 fueling stations. Cumberland Farms operates on a ground lease and has 15 years remaining. The lease also includes four five-year options to extend. During the base term, there are 5% rent increases every five years and 10% increases at the beginning of each option. The property was constructed in 2016 and has three points of ingress/egress. The 1.16 acre parcel is part of a larger 5.3 acre tract. The tenant is responsible for taxes, insurance, CAM and reimburses $500 per month for maintenance of the access road. This Cumberland Farms is located on the corner of Thomaston Avenue and Huntingdon Avenue, which have combined traffic counts of 42,600 per day. Route 8 is less than half a mile away and has traffic counts north of 37,000 per day. Located less then 25 miles from New Haven, the area has strong demographics with over 142,000 people living within a five mile radius. Average household income for the area is $70,000+. Nearby retailers include Target, Stop & Shop, Aldi, CVS, Dunkin Donuts, Dairy Queen, Taco Bell, Starbucks, Subway, McDonald’s, Dollar Tree, USPS, Anytime Fitness, and more.

Investment Highlights

  • Ground Lease with 15 Years Remaining
  • Includes 6 Dispensers; 12 Fueling Stations
  • 3 Points of Ingress/Egress

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

Financing By

Auto Service - Gas-Conv

Cumberland Farms

Listing Price: $3,150,000

Cap Rate
4.25%
Tenant Name
Cumberland Farms
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,816
Lease Type
NNN Ground Lease
Rent Per Square Feet
$27.80

Investment Highlights

  • Ground Lease with 15 Years Remaining
  • Includes 6 Dispensers; 12 Fueling Stations
  • 3 Points of Ingress/Egress

Investment Overview

The subject property is a Cumberland Farms located in Waterbury, Connecticut. The property consists of a 4,816 square foot building along with six dispensers and 12 fueling stations. Cumberland Farms operates on a ground lease and has 15 years remaining. The lease also includes four five-year options to extend. During the base term, there are 5% rent increases every five years and 10% increases at the beginning of each option. The property was constructed in 2016 and has three points of ingress/egress. The 1.16 acre parcel is part of a larger 5.3 acre tract. The tenant is responsible for taxes, insurance, CAM and reimburses $500 per month for maintenance of the access road. This Cumberland Farms is located on the corner of Thomaston Avenue and Huntingdon Avenue, which have combined traffic counts of 42,600 per day. Route 8 is less than half a mile away and has traffic counts north of 37,000 per day. Located less then 25 miles from New Haven, the area has strong demographics with over 142,000 people living within a five mile radius. Average household income for the area is $70,000+. Nearby retailers include Target, Stop & Shop, Aldi, CVS, Dunkin Donuts, Dairy Queen, Taco Bell, Starbucks, Subway, McDonald’s, Dollar Tree, USPS, Anytime Fitness, 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

Financing By

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