PRICE: $3,072,000 | CAP: 5.87% | RENT: $180,545
ABOUT THE INVESTMENT
- Two-Unit Webster Bank Portfolio
- Absolute Triple-Net Lease
- Total Portfolio Annual Rent: $180,545
- Total Portfolio Square Footage: 8,500 SF
- Price: $3,072,000
- Cap Rate: 5.87%
ABOUT THE LOCATION
- Wolcott Street Located in Strong Retail Corridor
- Highland Avenue Located in Residential Neighborhood
- Only 2 Miles from Downtown Waterbury | Home to the Town’s Central Business District
ABOUT THE TENANT
- Strong Credit Tenant: Baa1
- Recently announced completed merger with Sterling Bancorp, creating one of the largest commercial banks in the Northeast
- Combined company has approximately $65 billion in assets, $44 billion in loans, and $53 billion in deposits (as of 12/31/21)
- Operates 202 financial centers in the Northeast Region