Buy&Hold (Retail Strip Mall): 20,000 Sqft, Terryville, CT 06786+ $1,850,000
- Promise Land Realty
- 2 minutes ago
- 4 min read
Single Family Investment Opportunity
Price
$1,850,000
OFF-MARKET VALUE-ADD RETAIL INVESTMENT OPPORTUNITY
Terryville Shopping Plaza
8 South Main Street | Terryville (Bristol Border), Connecticut
Asking Price: $1,850,000
An exceptional opportunity to acquire a 19,727± SF neighborhood shopping center (approximately 20,000 SF) situated on 2.85 acres along the highly traveled South Main Street commercial corridor at the Bristol/Terryville border. This quality brick and masonry retail center offers investors an outstanding value-add opportunity with significant leasing upside in an established suburban retail market.
Historically, the property has been home to nationally recognized retailers and financial institutions including Walgreens, Rite Aid, United Bank, PNC Financial Services, Western Union, FedEx, and numerous successful local businesses. The majority of vacancies resulted from corporate consolidations, bankruptcies, and national downsizing—not from the property's location or market fundamentals.
The property is ideally suited for an experienced owner/operator or investor seeking to reposition and lease a well-located retail asset at an attractive basis below replacement cost.
Investment Highlights
Asking Price: $1,850,000
19,727± SF Gross Leasable Area
2.85 Acres
5 Retail Spaces
120 Parking Spaces
Existing Drive-Thru
160 Feet of Frontage on South Main Street
Highly Visible Pylon Sign
Signalized Intersection
Durable Brick & Masonry Construction
Built in 1983
Neighborhood Shopping Center
Excellent Visibility and Accessibility
Significant Value-Add Leasing Opportunity
Former National Tenants
The shopping center has historically attracted quality national and regional retailers, including:
Walgreens (Former 9,105 SF Anchor)
Rite Aid
United Bank
PNC Financial Services
Western Union
FedEx
Additional local and regional retailers
The former Walgreens space consists of approximately 9,105 SF, providing an excellent anchor opportunity for a pharmacy, medical user, grocery, discount retailer, fitness operator, or other necessity-based tenant.
Property Facts
Property Information | |
Property Type | Neighborhood Shopping Center |
Gross Leasable Area | 19,727± SF |
Land Area | 2.85 Acres |
Building Size | Approximately 20,000 SF |
Parking | 120 Spaces |
Retail Suites | 5 |
Year Built | 1983 |
Frontage | Approximately 160 Feet |
Location | South Main Street |
Traffic Control | Signalized Intersection |
Signage | Existing Pylon Sign |
Drive-Thru | Existing |
Investment Opportunity
This offering represents an exceptional opportunity to acquire a well-located shopping center with substantial upside through professional leasing and asset management.
The current ownership resides out of state and has elected to sell the property, believing that local ownership and management can maximize the center's leasing potential.
The property's location on one of Terryville's primary commercial corridors, adjacent to Bristol, provides strong visibility, accessibility, and long-term demand from national, regional, and local retailers.
Potential tenant categories include:
Medical & Dental
Urgent Care
Grocery
Dollar Store
Discount Retail
Restaurant
Coffee Concepts
Financial Institutions
Fitness
Professional Office
Service Retail
Illustrative Investment Scenario*
Based on stabilization at an average rental rate of $15.00/SF NNN:
Metric | Amount |
Illustrative Stabilized Base Rent / NOI | $295,000 |
Asking Price | $1,850,000 |
Price Per Square Foot | Approximately $94/SF |
Illustrative Stabilized Value (8.4% Cap Rate) | Approximately $3,500,000 |
The attached offering memorandum illustrates a stabilized base rent/NOI of approximately $295,000 at average rents of $15.00/SF NNN, with an estimated stabilized valuation of approximately $3.5 million at an 8.4% capitalization rate. These figures are presented for discussion purposes only.
Location Advantages
South Main Street commercial corridor
Border of Terryville and Bristol, Connecticut
Excellent visibility
Signalized access
Strong surrounding residential neighborhoods
Established retail corridor
Existing parking field and infrastructure
Existing drive-thru
Below replacement cost acquisition basis
Confidential Off-Market Offering
Additional information, property tours, and due diligence materials are available upon request.
Please submit all inquiries and offers directly to:
Disclaimer:Â The information contained herein is believed to be reliable but is not guaranteed. All property information, financial projections, rental assumptions, NOI estimates, and valuation scenarios are provided for discussion purposes only and are subject to verification by prospective purchasers. Illustrative investment scenarios are based upon hypothetical stabilization assumptions and should not be construed as guarantees of future performance.
Property Map
TEAM PROMISELAND DISCLAIMER: No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors & Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
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Trusted by 50,000+ Investors. Featured on BiggerPockets:
PROMISELAND DISCLAIMER:
Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of an accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors and Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.