About 631 Farmington Avenue
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.
Features of 631 Farmington Avenue
MLS® # | 24042284 |
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Price | $2,000,000 |
Square Footage | 25,298 |
Square Footage | Public Records |
Acres | 0.78 |
Year Built | 1960 |
Type | Commercial For Sale |
Status | Active |
Community Information
Address | 631 Farmington Avenue |
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Area | N/A |
City | Hartford |
County | Hartford |
State | Connecticut |
Zip Code | 06105 |
Amenities
Utilities | Electric, Gas, Telephone, Cable |
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Is Waterfront | No |
Has Pool | No |
Interior
Heating | Hot Air, Natural Gas |
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Cooling | Central Air |
Fireplace | No |
Has Basement | No |
Exterior
Exterior Features | None |
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Lot Description | Level Lot |
Roof | Membrane |
Additional Information
Date Listed | August 27th, 2024 |
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Days on Market | 75 |
Zoning | MX-1 |
RE / Bank Owned | No |
Listing Details
Office | Dave Jones Realty, LLC |
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