NNN Pro is pleased to present the exclusive listing for an AutoZone located at 48 Berlin Road in Cromwell, CT. The total land area is 1.15-acres, consisting of 1.03-acres of fee owned property and an additional 0.123-acres of a leasehold interest that is subject to $1 per year rent by the landlord with a lease until 2085. The leasehold interest is required to meet the green space zoning requirements in Cromwell. This AutoZone is subject to a 20-year absolute triple-net (NNN) ground lease. The tenant has waived their contingencies and rent is set commence not later than March 24, 2024, or when the tenant opens for business. The initial rent is $72,000 and is scheduled to increase by 5% every 5 years throughout the base term and in each of 4, 5-years options.
✓ Long-Term, 20-Year Absolute Triple-Net (NNN) Ground Lease | No Landlord Responsibilities
✓ Brand New Built-to-Suit Construction | Early 2024 Completion
✓ Five Percent (5%) Rental Increases Occurring Every Five (5) Years and In Each Option Period
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years!
