Description

Chili’s – 151 River Road is a 5,876 SF retail property offered for sale at 151 River Road in Lisbon, CT. The property is 100% occupied, giving buyers an existing tenancy to examine alongside the building and its income profile.

Built in 2009, the building sits on 1.6 acres and is leased on an NNN basis. Its 5,876 SF of gross leasable area defines the scale of the retail asset, while the land area gives buyers a distinct site component to consider within the acquisition. River Road carries 16,600 AADT, a traffic figure relevant to the location of a restaurant property. For a buyer focused on operating real estate, the combination of full occupancy, an identified tenant, and a defined lease structure places the tenancy at the center of the investment review.

The asking price is $1,800,000, or $306.33 PSF. In-place rents are $147,200, and the gross rent multiplier is 12.23. Those figures give buyers a basis for reviewing the acquisition against the income already associated with the property, rather than a vacant-space leasing plan. The ownership interest is leasehold, an important distinction for an investor reviewing the interest held in the property. Chili’s – 151 River Road is an occupied retail acquisition whose pricing, rent and lease structure put the existing tenancy at the center of the opportunity.