Listed by Fortis CRE Solutions
$5,500,000
West Marine | 9 Maritime Drive
Details
Property Type Retail
Sub Type Storefront, Specialty Center Investment
Square Footage 13,000
Cap Rate 6.21%
Lease Type NN
Lease Options Three (3) periods of five (5) years
Acreage 11.080
Investment Type Net Lease
Retail | 6.21% CAP | 13,000 SqFt
Marketing description
Fortis Commercial is pleased to present an exceptional opportunity in the heart of Stonington, CT. This 13,000 SF building presents an attractive proposition for retail and specialty center investors.
Discover the rich history and scenic charm of Stonington, CT, surrounding the area of the property at 9 Maritime Drive. This waterfront community offers a serene backdrop for professionals seeking an ideal work-life balance. Explore nearby attractions such as the Mystic Seaport Museum, renowned for its maritime heritage, or enjoy fresh seafood and ocean views at the historic Stonington Borough. With a variety of quaint shops, galleries, and waterfront dining options, the area provides a serene escape while still offering convenient access to major business hubs. Embrace the unique blend of coastal beauty and historical appeal that characterizes this captivating location.
Fortis Commercial is pleased to present this exclusive net-lease offering for the West Marine Super Store located at 9 Maritime Dr. in Mystic, CT. The site, constructed in 2014, consists of roughly 13,000 rentable square feet of building space on an estimated 11.08 acre parcel of land.
Investment highlights
- 13,000 SF building
- Prominent location in Stonington
- Ideal for retail or specialty center investment
- Original 10-year double-net (NN) lease with more than three years remaining on first option
- Attractive rental increases of 10% every five (5) years, including option periods through 2038
- Tenant renewal options: three (3) periods of five (5) years
- Corporate tenant and corporate guaranty
- Dense retail corridor: McDonald's, Starbucks, Dunkin Donuts, Domino's Pizza, Friendly's, Cask'n Keg and many more
- Positive real estate fundamentals, located within a coastal destination known for boating with 10 marinas in the immediate area
- Ease of access and located within direct proximity to 1-95, 64,000 vehicles per day
- Strong traffic counts: 1-95 & Greenmanville Ave, 64,000 and 18,800 vehicles per day, respectively
- Dense hospitality corridor: Hilton, Hyatt Place, Holiday Inn Express, Howard Johnson by Wyndham, Econo Lodge, Hampton Inn & Suites, Residence Inn by Marriot,
- Quality Inn, Days Inn By Wyndham and more
- Compelling location fundamentals, located across from Mystic Aquarium
- Affluent area, with an average household income exceeding $126,700 within a three-mile radius
- The Nation's #1 boating supplies retailer, servicing 150 countries worldwide
- Operates some 250 company-owned stores, as well as a port supply wholesale business, a direct-to-customer website, catalog, and call center
- Throughout 37 US States, Puerto Rico and an e-commerce website reaching domestic, international, and professional customers.
Listing Contacts
Listed by Fortis CRE Solutions
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
