$39OK NOI | Anchored by Global Tenant Regus since 1998 with recent lease renewal price listed is starting bid on tenx 11. 18. 24 Mill Crossing, situated at 1224 Mill Street, is an excellent opportunity for both investors and owners/users, with 35, 270 square feet in three buildings and excess land for additional development. Built in 1995 and meticulously maintained over the years this asset is primed to be an excellent investment. The property comes equipped with a 6. 65-acre lot and over 200 parking spaces perfect for both employees and visitors. The simple facade and well-groomed landscaping surrounding the asset makes it ideal for tenancy. New ownership can continue to run the property as-is while collecting incomes from in-place tenants Buyers can also revamp current tenant leases to yield a higher net operating income. Alternatively, this is an excellent opportunity for owners/users with excess land for new develoment of medical or apartments subject to town approval. Berlin is at the crossroads of Central Connecticut, where Interstate 91 merges with Route 9, making it the perfect place for office investment. The area has a very low vacancy of 2. 3% which is 0. 4% lower than it was this time last year. Current vacancy is lower than its trailing three-year average of 3. 2%, which is also lower than the 9. 7% trailing three-year average of the Hartford market as a whole. Rents have increased in the past 12 months.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $560,000 | $560,000 | $560,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | $5,644 | $5,644 | $5,644 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,773 | $3,722 | $4,723 |
Total Monthly Payment | $9,509 | $9,458 | $10,459 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.