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Bank

WEBSTER BANK

725 Wolcott St, Waterbury, CT 06705

Listing Price: $1,510,000

Cap Rate
5.75%
Tenant Name
WEBSTER BANK
Years Remaining On Lease
4.8
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$431.43
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.80

Investment Overview

Marcus and Millichap is pleased to offer 725 Wolcott Street located in Waterbury (New Haven County), Connecticut The subject property is a 3,500-square-foot freestanding building on a .46 acre lot and is currently on a NNN lease with Webster Bank. The site sits on the signalized corner of Wolcott Street and Wesco Road and contains three points of ingress/egress. This Webster Bank branch had over $60 Million in deposits as of June 30, 2021. The subject property bene?ts from a very strong retail corridor along Wolcott Street, which provides exposure to over 24,000 vehicles daily. Shopping centers anchored by national brands such as Walmart, ShopRite, and Stop & Shop are just seconds North of the property. Family Dollar and Big Lots anchored centers are immediately South. The subject property is also just 2 miles from downtown Waterbury, which hosts the UCONN downtown campus and the historic Palace Theater. Webster Bank announced in February that it completed its merger with Sterling Bancorp, creating one of the largest commercial banks in the Northeast. The combined company has approximately $65 billion in assets, $44 billion in loans, and $53 billion in deposits based on balances as of December 31, 2021 and operates 202 financial centers in the Northeast region. The new headquarters of Webster is in Stamford, Connecticut, and Webster will have a continued multi-campus presence in the greater New York City area and Waterbury, Connecticut as well as branch locations throughout Connecticut, Massachusetts, Rhode Island, and Westchester County, NY. Waterbury, Connecticut is strategically located at the junction of Interstate 84 and Route 8. The town is just two hours from Boston, 90 minutes from New York City and a 30-minute commute to Hartford, Bridgeport, New Haven and Danbury.

Investment Highlights

  • Single Tenant NNN Webster Bank
  • Signalized Intersection
  • Strong Retail Trade Area; Less than a Mile Away from Family Dollar, Big Lots, Dollar Tree, ShopRite and Wal-Mart Anchored Shopping Center
  • Only 2 Miles from Downtown Waterbury | Home to the Town's Central Business District and Webster's Corporate Headquarters

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

Listing Price: $1,510,000

Cap Rate
5.75%
Tenant Name
WEBSTER BANK
Years Remaining On Lease
4.8
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$431.43
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.80

Investment Highlights

  • Single Tenant NNN Webster Bank
  • Signalized Intersection
  • Strong Retail Trade Area; Less than a Mile Away from Family Dollar, Big Lots, Dollar Tree, ShopRite and Wal-Mart Anchored Shopping Center
  • Only 2 Miles from Downtown Waterbury | Home to the Town's Central Business District and Webster's Corporate Headquarters

Investment Overview

Marcus and Millichap is pleased to offer 725 Wolcott Street located in Waterbury (New Haven County), Connecticut The subject property is a 3,500-square-foot freestanding building on a .46 acre lot and is currently on a NNN lease with Webster Bank. The site sits on the signalized corner of Wolcott Street and Wesco Road and contains three points of ingress/egress. This Webster Bank branch had over $60 Million in deposits as of June 30, 2021. The subject property bene?ts from a very strong retail corridor along Wolcott Street, which provides exposure to over 24,000 vehicles daily. Shopping centers anchored by national brands such as Walmart, ShopRite, and Stop & Shop are just seconds North of the property. Family Dollar and Big Lots anchored centers are immediately South. The subject property is also just 2 miles from downtown Waterbury, which hosts the UCONN downtown campus and the historic Palace Theater. Webster Bank announced in February that it completed its merger with Sterling Bancorp, creating one of the largest commercial banks in the Northeast. The combined company has approximately $65 billion in assets, $44 billion in loans, and $53 billion in deposits based on balances as of December 31, 2021 and operates 202 financial centers in the Northeast region. The new headquarters of Webster is in Stamford, Connecticut, and Webster will have a continued multi-campus presence in the greater New York City area and Waterbury, Connecticut as well as branch locations throughout Connecticut, Massachusetts, Rhode Island, and Westchester County, NY. Waterbury, Connecticut is strategically located at the junction of Interstate 84 and Route 8. The town is just two hours from Boston, 90 minutes from New York City and a 30-minute commute to Hartford, Bridgeport, New Haven and Danbury.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

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