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$ 750,000
Est. payment /mo
Active
farmington Avenue West Hartford, CT 06119
30,000 SqFt
UPDATED:
09/23/2024 11:07 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 30,000 sqft
Price per Sqft $25
MLS Listing ID 24048812
Year Built 1949
Annual Tax Amount $16,000
Property Description
price listed is starting bid at auction on tenx, 11-18 830 Farmington Avenue presents an excellent NNN investment opportunity at $400K NNN 10+% cap rate in a thriving area. The 29,568-square-foot retail asset is positioned on a gracious 0.68 acres with plentiful parking for employees and patrons alike. Zoned BC, this asset boasts a broad zoning, allowing for many potential uses. The current tenant has occupied this building for 45 years. Situated prominently along a bustling thoroughfare in the vibrant community of West Hartford, it is strategically positioned to capture the attention of a diverse and affluent demographic. This sought-after location boasts high visibility and a steady stream of foot traffic, making it an ideal destination for businesses seeking maximum exposure and accessibility. The West Hartford retail submarket is an excellent place for investors, with retail rents at or above $40 per square feet, NNN. Rents have increased 2.4% in the past 12 months. Nothing is under construction in the West Hartford retail submarket. The current vacancy is lower than its trailing three-year average. The Hartford metro as a whole performs extremely well, making it the perfect place for business. Metropolitan Hartford's labor market continued to expand in June, bringing seasonally adjusted payrolls to 589,200. On a year-over-year basis, this represents a 7,800-job expansion in Hartford's workforce.
Location
State CT
County Hartford
Zoning CBD
Interior
Heating Hot Air
Cooling Central Air
Exterior
Utilities Available Electric, Gas
Roof Type EPDM Synthetic Rubber
Building
Lot Description Corner Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Michael Guidicelli • Regions Real Estate Advisors