New Listing - 09/23/2024
farmington Avenue, West Hartford, CT, 06119
1949
30,000 sqft
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.
Status:
Active
Type:
Commercial
Zoning:
CBD
Frontage:
Municipal Street
Heating:
Hot Air
Cooling:
Central Air
Est. Taxes:
$16,000
Current Use
retail
Permitted Use
retail - medical
Utilities
Electric,Gas
Lot Description:
Corner Lot
Days on Market:
0
MLS #:
24048812
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