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Views: 118 DOM: 256 Updated: 07.01.24 Posted: 03.10.24 Status: Active

Summary

Price $2,882,000
Built/Renov 2004
Tenant Sullivan's Foods
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 36,236
Lease Start 06-20-2023
#Units 3,500
Price/SF $79.53
Expiration 06-30-2038
Tenant Type Grocery
NOI $182,992
R. Term 13.7
Ownership Fee Simple
Rent/SF $5.05
Increases 0.0%/0/yrs
Pop 5Mi 13,437
Lot/AC 4.26
Options 4/5yrs
AHHI 5Mi $60,964

Lease Highlights

  • Sullivan’s Foods has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Tenured, strong performing location with a low lease rate ($5.05 psf) | Low historic rent-to-sales ratio
  • Corporate guaranteed lease

Location Description

Sullivan's Foods is strategically located on Tenney Street, with access to 11100 vehicles passing by daily. The property is across the street from Wethersfield Schools, serving 575 students. Its location is advantageous, being near well-known national retailers such as Walmart Supercenter, Taco Bell, Burger King, Dollar Tree, Dollar General, Scooter’s, Subway, Menards, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sullivan's Foods
  • Guarantor:Corporate
  • Company:Associated Wholesale Grocers
  • # Units:3,500
  • Stock:Private

About Tenant

Sullivan’s Foods is a family-owned and operated grocery retail business featuring full line grocery, meats and produce. The company also offers in house bakery items, prepared meals and catering....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,121 12,792 13,278
2023 Total Population : 4,204 12,946 13,437
2023 Employed Civilian Pop : 1,946 5,321 5,560
2023 Total Businesses : 145 430 449
2023 Average Household Income : $ 72,874 $ 60,081 $ 60,964
2023 Total Consumer Spending : $ 122 M $ 284 M $ 300 M
2023 Median Age : 44 40 40
2023 Total Households : 1,902 5,352 5,559
2023 Pop Age 25+: Bachelor's Degree : 406 864 920
2023 Average Home Value : $ 109,165 $ 98,270 $ 100,968
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 34;IL 78 E College St 2021 9,350 0.10 mi
Tenney St E College St 2009 12,800 0.10 mi
Tenney St W Kellogg Ave 2005 13,800 0.13 mi
W South St Hollis St 2010 3,650 0.13 mi
Tenney St E South St 2001 9,200 0.14 mi
W South St Hollis St 2001 3,700 0.15 mi
W South St Hollis St 2001 9,200 0.16 mi
Tenney St E Garfield St 2005 13,800 0.18 mi
E South St Tenney St 2001 3,150 0.20 mi
TENNEY ST 2021 11,100 0.20 mi

Listing Broker

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