October 31, 2022 –Bob Horvath, Todd Tremblay and Stavros Filippidis of Horvath & Tremblay have successfully completed the sale of 80 Main Street in New Canaan, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4,650,000.
80 Main Street in New Canaan, Connecticut is a meticulously maintained, whitewashed three-story brick building containing 14,210 square feet of gross area on 0.25 acres of land. The Property contains six (6) total units, including a complimentary mix of high-end local service tenants (nails and salons) a publishing company and a highly respected non-profit organization. All of the tenants in the Property have leases that feature 3.0% annual rent increases throughout their initial lease terms providing the investor with an attractive increase in revenue and hedge against inflation. 80 Main Street is situated in an exceptional downtown location adjacent to a signalized intersection in the heart of New Canaan. The highly visible parcel offers outstanding visibility, frontage and access and is adjacent to the signalized intersection of Main Street and East Avenue (CT Route 106). The Property features direct access to the building from the rear of the building from Locust Street and has a brick-paved parking courtyard. Parking is extremely rare and highly desired in downtown New Canaan, as most buildings in the downtown feature only on-street parking.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.