Price Reduced 4.76%

$2,000,000

Est. Mortgage $10,113/mo *

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Price History

$2,100,000
8/27/2024

$2,000,000
10/18/2024

631 Farmington Avenue, Hartford, CT, 06105

631 Farmington Avenue, Hartford, CT, 06105
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0 beds

1960

25,298 sqft

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.

Status:

Active

Type:

Commercial

Units:

2

Zoning:

MX-1

Frontage:

Municipal Street,Paved Road

Heating:

Hot Air

Cooling:

Central Air

Acreage:

0.78

Est. Taxes:

$65,211

Assessment

$945,770

Current Use

Office

Utilities

Electric,Gas,Telephone,Cable

Lot Description:

Level Lot

Days on Market:

69

MLS #:

24042284

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Stephanie Ossowski, Dave Jones Realty, LLC Email: stephossowski@gmail.com