Active
631 Farmington Avenue
Hartford CT, 06105
$2,000,000
$79.06 per sqft
Active
25,298 sqft
Commercial
Built in 1960
Attention investors! This turnkey 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. Larger unit has occupied the building 30+ years, and the other has been there 14 years. Leases increase by 2.5% annually to account for expenses. 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 partially finished basement offers potential to further maximize rental revenue. Over 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. Detailed expense sheet available upon request.
24042284
MLSⓇ ID
August 27, 2024
Listed
October 19, 2024
Updated
Map
631 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
53
Garage
No
View
No
County
Hartford
Water Source
Public
Pool
No
Zoning
MX-1
Listing History
Date | Event | Price |
|---|---|---|
10/18/2024 | Price change | $2,000,000 -5% |
Listed by Stephanie Ossowski with Dave Jones Realty, LLC
Listing Contact: 8603369290
The IDX display contains information sourced from the Smart MLS, Inc as of 10/19/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 10/19/2024 at 2:33 PM UTC