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SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in The Shops at Main Street, a Walgreens (S&P: BBB) anchored, NNN leased, freestanding, investment property located in Watertown, CT. Walgreens recently took over this Rite Aid location, and executed a 5-year lease extension, demonstrating their strong commitment to the site. The property has been a pharmacy for over 30 years and is well established in the trade area. The asset contains a cleaners and over 10,000 SF of second story space providing value-add through lease-up. The current leases are both NNN, limiting expense leakage for a future investor.
The subject property is located along Main Street with over 14,900 vehicles passing by daily. Nearby national/credit tenants include Marshalls, Adams Hometown Market, Starbucks, AutoZone, and more, increasing consumer traffic to the subject trade area. The 5-mile trade area is supported by over 75,000 residents and nearly 34,000 employees. The immediate 1-mile trade area has a population that boasts an average household income of more than $107,000.
Investment Grade Anchor – Walgreens (S&P: BBB) | New 5-Year Lease Extension | Established Pharmacy Location for Over 30 Years
Value Add Opportunity | Over 10,000 SF of Second Story Space Providing Value-Add through Lease-Up
NNN Leases | Fee Simple Ownership | Limited Landlord Responsibilities
Major Thoroughfare with Over 14,900 VPD | Excellent Visibility and Access | Large Pylon Sign Increases Visibility
Retail Corridor with Nearby National Tenants including Marshalls, Adams Hometown Market, Starbucks, AutoZone and more
5-Mile Trade Area is Supported by Over 75,000 Residents and Nearly 34,000 Employees | 1-Mile Average Household Income $107,000