A retail drug store in Connecticut.
Description
A retail store of medicines.
The cost of the property is 4,200,000 $.
The absolute annual income is 218,400 $.
The current yield is 5,2%.
The tenant is a subsidiary of a large American pharmacy chain with about 10,000 retail enterprises.
The lease agreement is valid until January 31, 2035.
Type of rent: triple net lease.
NNN lease is the most common type of lease in case of long-term contracts. The owner takes a lease ”in triple size, “ that is, without deduction of tax, insurance and maintenance costs (these costs are contractually borne by the tenant). The triple net lease agreement is aimed at saving the lessor from unnecessary costs, additional work and thereby increase the profitability of real estate.
The property is located in the suburbs of New Haven (New Haven County, Connecticut). New Haven is situated on the shore of the Long Island Strait. The population is about 140,000 people (the 2nd largest city in the state after Bridgeport).
The city has developed a production of firearms and ammunition, watches, electrical goods, industrial equipment and tools, developed instrumentation and chemical industry. New Haven is a major port.
The famous Yale University, founded in 1701, is situated here.
The shop is located at the crossroads, there are many cafes and restaurants, a bakery, a pizzeria, a hospital, a car workshop near by.
The center of New Haven is about 6 km away.
