631 Farmington AvenueHartford, CT 06105
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.
| a month ago | Listing updated with changes from the MLS® | |
| a month ago | Status changed to Active | |
| a month ago | Price changed to $2,000,000 | |
| 3 months ago | Listing first seen on site |
The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc.
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.