631-635 Farmington Avenue, Hartford, CT 06105
- $2,100,000
- 25,298
- SqFt
- List Price
- $2,100,000
- Status
- ACTIVE
- MLS#
- 24042284
- Year Built
- 1960
- Acres
- 0.78
- Living Area
- 25,298
- Neighborhood
- N/A
Property Description
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.
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Additional Information
- Taxes
- $65,211
- Lot Size
- 33,976
- Heating
- Hot Air
- Fuel Type
- Natural Gas
- Cooling System Type
- Central Air
- Sewer
- Public Sewer Connected
- Water Source
- Public Water Connected
- Exterior Features
- None
Mortgage Calculator
Listing courtesy of Stephanie Ossowski from Dave Jones Realty, LLC
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