Vacant Drive-Thru Value-Add Investment | For Sale / Lease
Former Rite Aid | 10,440 SF | 2.6 Acres
Marketing description
We are pleased to present the opportunity to acquire a vacant former Rite Aid located at 1395 Middletown Avenue in Northford, Connecticut. The property consists of a 10,440-square-foot freestanding commercial building situated on approximately 2.6 acres and is offered at an attractive basis of approximately $153 per square foot. Positioned at the signalized intersection of Middletown Avenue (Route 17) and Linsley Street (Route 22), the property benefits from exceptional visibility, convenient accessibility, and approximately 26,300 vehicles per day at one of Northford's most prominent commercial intersections.
Originally developed for Rite Aid, the property features a highly functional retail layout, ample parking, prominent signage opportunities, and an existing drive-thru, a feature that remains highly sought after by financial institutions, medical users, pharmacies, quick-service restaurants, and a variety of service-oriented operators. The combination of building size, site configuration, and drive-thru infrastructure creates significant leasing and redevelopment flexibility that is increasingly difficult to replicate in today's entitlement and construction environment.
The property benefits from an effective year built of 2010, reflecting a modernized building profile, contemporary site improvements, and functional design characteristics that distinguish it from older second-generation retail inventory. The property's efficient layout and strong physical infrastructure support a wide range of occupancy, adaptive reuse, and redevelopment strategies.
Located within the B-2 Central Business District zoning designation, the property benefits from zoning flexibility that supports future leasing, occupancy, and redevelopment opportunities while enhancing the long-term value of the underlying real estate.
Northford is a village within the Town of North Branford, located in New Haven County and strategically positioned between New Haven, Wallingford, Middletown, and Connecticut's shoreline communities. The area is anchored by Route 17 and Route 22, two major commuter and commercial corridors that support regional connectivity and provide access to some of Connecticut's most significant employment centers. The surrounding trade area benefits from established residential neighborhoods, strong household demographics, and a stable mix of retail, healthcare, professional service, and community-oriented businesses.
This offering presents investors, owner-users, and developers with a rare opportunity to acquire a highly visible corner property with significant value-add potential through lease-up, adaptive reuse, or redevelopment. Combining a signalized hard-corner location, existing drive-thru infrastructure, flexible zoning, a modernized building profile, and an attractive acquisition basis, the property represents a compelling commercial real estate opportunity within an established New Haven County trade area.
Investment highlights
- Attractive Acquisition Basis ($153/SF) – Opportunity to acquire a modernized freestanding commercial building at a basis significantly below replacement cost
- Value-Add Lease-Up Opportunity – Vacant building provides investors and owner-users the ability to create value through occupancy, repositioning, or redevelopment
- Former Rite Aid with Existing Drive-Thru – Existing drive-thru infrastructure creates appeal for financial institutions, medical users, pharmacies, restaurants, and service-oriented operators
- Modernized Asset (Effective Year Built: 2010) – The property benefits from a modernized building profile, contemporary site design, and functional drive-thru configuration that supports a wide variety of commercial uses
- Freestanding 10,440 SF Building – Functional single-tenant layout suitable for retail, medical, office, and service-oriented occupancy
- Large 2.6-Acre Parcel – Generous site size provides operational flexibility, ample parking, and potential future redevelopment opportunities
- Signalized Hard Corner Location – Positioned at the intersection of Middletown Avenue (Route 17) and Linsley Street (Route 22), one of the area's most visible commercial intersections
- 26,300 Combined Vehicles Per Day – Strong traffic exposure generated by Route 17 and Route 22 supports long-term retail and commercial viability
- B-2 Central Business District Zoning – Flexible commercial zoning supports future leasing, occupancy, and redevelopment opportunities
- Commercial Center of Northford – Located within the community's primary retail and service corridor, surrounded by neighborhood-serving businesses, restaurants, financial institutions, and residential development
- Excellent Regional Connectivity – Convenient access to New Haven, Wallingford, Middletown, Interstate 91, and Connecticut's shoreline communities
- Adaptive Reuse Potential – Existing building configuration and site layout support multiple repositioning and redevelopment strategies
- Owner-User or Investment Opportunity – Suitable for investors seeking lease-up upside as well as owner-users seeking a highly visible commercial location
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