631 Farmington Avenue, Hartford, Connecticut

$2,000,000

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25,298

Square feet

0.78

Acres

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
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
Area N/A
City Hartford
County Hartford
State Connecticut
Zip Code 06105

Amenities

Utilities Electric, Gas, Telephone, Cable
Is Waterfront No
Has Pool No

Interior

Heating Hot Air, Natural Gas
Cooling Central Air
Fireplace No
Has Basement No

Exterior

Exterior Features None
Lot Description Level Lot
Roof Membrane

Additional Information

Date Listed August 27th, 2024
Days on Market 75
Zoning MX-1
RE / Bank Owned No

Listing Details

OfficeDave Jones Realty, LLC

Listing Map

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