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