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$ 4,500,000
Est. payment | /mo
1 Bath
17,180 SqFt
$ 4,500,000
Est. payment | /mo
1 Bath
17,180 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 17,180 sqft
Price per Sqft $261
MLS Listing ID 24166907
Half Baths 1
Year Built 2016
Annual Tax Amount $47,723
Lot Size 1.040 Acres
Property Description
The property located at Grove St & Cook St is a prime grocery-anchored investment opportunity featuring a brand-new Food Universe supermarket under a 25-year lease through July 15, 2048, providing long-term, stable cash flow. Food Universe is backed by Key Food Stores Co-operative Inc., a nationally recognized grocery operator with a strong network and established credit profile, supporting a highly reliable tenancy. The asset benefits from exceptional visibility and accessibility, positioned on a prominent corner with convenient access to I-84 and Route 8, and features strong site functionality including ample parking (51 spaces) and a loading dock. The surrounding area continues to strengthen, highlighted by a newly completed 44 unit residential development directly across the street, driving built-in customer traffic. Additionally, the property is located within both a federally designated Opportunity Zone and an Enterprise Zone, offering potential tax incentives and enhanced after-tax return potential. Overall, the asset offers a compelling combination of long-term contractual income, strong tenant credit support, prime visibility, and public incentive benefits in a growing supermarket.
Location
State CT
County New Haven
Zoning CG
Interior
Interior Features Loading - Dock Height
Heating Gas on Gas
Cooling None
Flooring Concrete
Exterior
Parking Features Paved, Parking Lot, On Street Parking
Utilities Available Electric, Gas
Roof Type Rubber
Building
Lot Description Corner Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Hitomi Batista • Titanium Real Estate Group,LLC
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