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LL Flooring

Waterbury, Connecticut

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Marcus & Millichap is pleased to present the exclusive listing for the LL Floorings located at 1012 Wolcott Street in Waterbury, Connecticut. The site consists of roughly 6,500 rentable square feet of building space on estimated 0.94-acre parcel of land. This LL Floorings is subject to a seven (7) year Double-Net (NN) lease, which commenced in September 2014. The tenant recently exercised their first five-year tenant renewal option early, proving their commitment to the location.

About the Investment:

✓ 5.3 Years Remaining on Original 7 Year Double-Net (NN) Lease
✓ Tenant Recently Exercised First Five-Year Option | Strong Commitment to the Site
✓ Annual Rental Increase Beginning in 2022
✓ One (1), Five (5)-Year Tenant Renewal Option Remaining
✓ Corporate Tenant | Corporate Guaranty | LL Floorings has Revenue Greater than $1 Billion | Over 400 locations

About the Location:

✓ Dense Retail Corridor | Walmart, Big Lots, Shop Rite, Stop & Shop, Family Dollar, Dollar Tree, Ollie’s Bargain Outlet, Rite Aid, Panera, Taco Bell, Wendy’s, and Many More
✓ Robust Demographics | Population Exceeds 147,800 Individuals Within a Five-Mile Radius
✓ Strong Traffic Counts | Over 22,500 Vehicles Per Day Wolcott Street
✓ Compelling Location Fundamentals | Naugatuck Valley Community College & Post University | Located Within a Six Mile Radius | Combined Enrollment Exceeding 9,100 Students
✓ Waterbury Hospital | Located Approximately Four Miles Away | 357 Licensed Beds
✓ Situated in a Prime Target Market and Demographic for Concept

About the Tenant/Brand:

✓ Lumber Liquidators Began in 1996 – April of 2020 Became LL Flooring
✓ Over 400 Locations Nationwide
✓ One of the Largest Inventories of Prefinished and Unfinished Hardwood Floors in the Industry
✓ Committed to Selling High Quality Safe Products
✓ Flooring Experts in Every Store
✓ Flooring Vendors Required to Partner with Underwriter’s Laboratories or SCS Global Services to Meet Stringent GREENGAURD Gold or FloorScore Certification Standards for Indoor Air Quality

Key Details

Price:
$1,083,333
Cap Rate:
6.00%
Annual Rent:
$65,000
Address:
1012 Wolcott Street, Waterbury, Connecticut 06705
Property Type:
Net Leased Retail
Lease Type:
Double Net (NN)

Original Lease Term:
7 Years
Lease Commencement:
October 1st, 2014
Lease Expiration:
September 30th, 2026
Lease Term Remaining:
5.3 Years
Rental Increases:
Annually Beginning 2022
Lot Size:
0.94 Acres
Building Size:
6,500 SF
Year Built:
1985
Year Renovated:
2014
Tenant:
LL Flooring

Broker of record

John Krueger

License: REB.0752012


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