Description

JLL presents a two-tenant NNN retail investment at 32 and 56 Rubber Avenue, Naugatuck, CT, occupied by Town Fair Tire and Advance Auto Parts, with 9.3 years WALT. Town Fair Tire holds a 10-year lease with two 5-year options (10% increases each renewal); Advance Auto Parts is in its third renewal, having committed to a fourth 10-year term with contractual increases. Both tenants are strong national credits: Advance Auto Parts (4,300+ stores, S&P BB) and Town Fair Tire, backed by Mavis Tire (2,300+ locations, $4.6B projected revenue, S&P B-). The trade area has ~41,000 residents and ~$120K average household income within three miles. It's adjacent to the upcoming Naugatuck train station (2027), part of a transit-oriented redevelopment adding 180 mixed-income units and 7,000+ SF of retail.

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Attributes

Asking price

£3,785,000

Cap rate

6.65%

Building area gross

20,457 sf

Occupancy

100%

Year built

1997

Town Fair Tire & Advance Auto Parts - Naugatuck, CT (2 Properties)

Media

Investment Highlights

±9.3 years of WALT remaining
Both tenants backed with corporate guaranty
$120K average household income within 3-mile radius
Direct accessibility to Route 8 with 65,000+ VPD
Adjacent to a planned 180-unit new construction apartment building with 7,000 SF of retail
Adjacent to a new $33.2M Metro-North station, opening Summer 2027
3.7% low submarket retail vacancy rate
41K daytime population (within 3 miles)
19.2% submarket rent growth since 2021