Active
631-635 Farmington Avenue
Hartford CT, 06105
$2,100,000
$83.01 per sqft
Active
25,298 sqft
Commercial
Built in 1960
Attention investors! This turnkey 25,000 sq ft commercial office building presents an excellent opportunity for those looking to expand their portfolio. Fully leased until 2030 with two long term tenants providing stabilized rental income. Leases increase by 2.5% annually to account for expense increases. Situated in the West End, with easy highway access and public transit. Substantial upgrades include energy efficient lighting, new fire alarm system, new HVAC system, updated restrooms, and a complete renovation of the second floor. Ample parking (50+ spaces) located on the front, side, and rear of the building. The finished basement offers potential to further maximize rental revenue. At a 9% cap rate with minimal owner responsibility, this property would be ideal for a 1031 exchange or for the newer investor looking to get into commercial real estate. Seller financing available to qualified buyers. Detailed expense sheet available upon request.
24042284
MLSⓇ ID
August 27, 2024
Listed
September 13, 2024
Updated
Map
631-635 Farmington Avenue
Hartford CT, 06105
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Natural Gas, Forced Air
Exterior/Building Features
Lot Size
0.78 Acres
Lot Features
Level
Sewer
Public Sewer
Other Property Details
Area Name
N/A
Taxes
$65,211
Tax Frequency
Annually
Days on Market
1
Garage
No
View
No
County
Hartford
Water Source
Public
Pool
No
Zoning
MX-1
Listed by Stephanie Ossowski with Dave Jones Realty, LLC
Listing Contact: 8603369290
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Data last updated on 9/13/2024 at 9:43 AM UTC