New Listing - 09/23/2024
70 Heminway Park Road, Watertown, (Taft School), CT, 06795
1955
4,140 sqft
price listed is starting bid price on TenX, 11/18 70 Heminway Park Road presents investors with an easy transfer of an NNN-leased medical office. The single-story brick building was erected in 1955 and rings in at an impressive 4,140 square feet. Situated on a 0.31-acre lot the property comes equipped with 19 parking spaces perfect for employees and visitors alike. Recent renovations include a new HVAC, roof, front facade, and a reception and waiting area. 70 Heminway Park Road has been inhabited by St. Mary's Hospital for the past 13 years, which has meticulously maintained the asset. The tenant is on an NNN lease, creating a hands-off investment for ownership. St. Mary's Hospital pays for utilities, taxes, insurance, snowplowing, landscaping, trash, and HVAC maintenance. The Watertown, Connecticut, office market is a small yet substantial location for investors to enter. Total inventory is impressive at 220,000 square feet. Vacancy rates are low at a notable 2.8% vacancy, which is 2.8% lower than a year ago. Market rates for rent are on the rise as well as cap rates in this area. Watertown is a quaint town located just under an hour from the major metros of Hartford and New Haven. This locale is committed to bringing new businesses to the area as well as keeping existing businesses successful.
Status:
Active
Town:
Watertown
Type:
Commercial
Zoning:
BC
Frontage:
Municipal Street
Heating:
Hot Air
Cooling:
Central Air
Acreage:
0.31
Est. Taxes:
$12,142
Assessment
$427,980
Current Use
medical
Permitted Use
medical
Utilities
Electric,Gas Available
Lot Description:
Level Lot
Days on Market:
0
MLS #:
24048642
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Michael Guidicelli, Regions Real Estate Advisors Email: michael@regionscommercial.com