Mobil
Retail | 5.85% CAP | 880 SqFt
Marketing description
PROPERTY QUALIFIES FOR BONUS DEPRECIATION!
Coastline Real Estate Advisors is pleased to present this exclusive opportunity to purchase a net-leased property leased as a Mobil Gas and Convenience Store located at 411 West Main Street in Avon, Connecticut (the “Property”). There are approximately 7 years remaining on the initial 20-year lease term with 8, five year renewal options. The option periods include a 10% rent increase at the start of each option period.
The property is located at a highly visible .43 acre corner parcel at a signalized intersection of Route 44 and Route 167 in a dense retail area. Avon is an affluent suburb of Hartford with a population of 18,000.
Investment highlights
*INITIAL 20-YEAR TERM: There are 7.7 years remaining on the initial 20-year lease term with 8, five-year renewal options that include a 10% rent increase at the start of each option period.
*LEASE GUARANTOR: Global Partners LP, a Fortune 500 Company with $17+ Billion in Revenue.
*SITE LOCATION: Premier location on a four way, signalized intersection in Avon's central retail corridor.
*AREA LOCATION: Affluent population with average household income over $160,000. Major retailers include CVS, Walgreens, Stop & Shop and Marshalls. Multiple open-air shopping destinations in the area such as Avon Marketplace, Simsbury Commons and The Shoppes at Farmington Valley.
*HIGH TRAFFIC COUNTS: Route 44 (West Main Street) has an average daily traffic count of over 35,000 vehicles and Route 167 (W Avon Road) has an average daily traffic count of over 14,000 vehicles.
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