Price Reduced 4.76%
Price History
$2,100,000
8/27/2024
$2,000,000
10/18/2024
631 Farmington Avenue, Hartford, CT, 06105
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:
85
MLS #:
24042284
Community Info
School Info
Walk Score
Mass Transit
Yelp
Similar Properties
New or Coming Soon Properties
Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Stephanie Ossowski, Dave Jones Realty, LLC Email: stephossowski@gmail.com