Remarks

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.

Details

MLS#: 24042284
Price: $1,900,000

Bedrooms: 0
Baths Full: 0
Baths Half: 0
Sq Ft: 25298
Year Built: 1960

County: Hartford