Building IV "Old Main Village"

Retail-Commercial for Sale
Catylist Listing ID: 30460258
Property Subtypes: Day Care Facility, Free-Standing Building
Building Size (RSF): 16,145 SF
Gross Building Area: See Agent
Sale Price: $3,550,000
Unit Price: $219.88 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Sale/Leaseback
Cap Rate: 7.0%
Last Updated: 9/6/2019

Overview / Comments

Goman+York Property Advisors, LLC has been retained by 3 Bluebirds, LLC to offer to qualified investors and/or occupiers the opportunity to purchase 158 New Britain Avenue, Rocky Hill, Connecticut, a three story, commercial building ( (±15,750 SF).The building is located within the land condominium association known as Old Main Village with two other owners and their associated structures which are currently used for retail and office space. The association encompasses 3.56 acres of land. Per the condominium documents, Unit C’s pro rata share is 33% based on total area which would translate to 1.18 acres of land. Built in 2016, 158 New Britain Avenue is located at a signalized intersection with Hayes Rd, contains 15,750 SF on three floors, with elevator access serving each floor. The first two floors (both on grade)are leased to the current property owner for a high end day care operation called Kiddie Academy with an outdoor playground. The third floor, 5,250 SF, is currently in raw condition with base building HVAC, sprinkler and electrical stubbed on the floor and ready for horizontal distribution. As part of a sale to a qualified investor and/or occupier, Kidde Academy(franchise operator) is prepared to lease back the 1st and 2nd floors for 15 years. In addition, Kidde Academy is willing to initially lease the third floor “as is” for term which is the sooner of: a) 12 months or b) when purchaser secures a lease from a third party tenant.

Acquisition highlights
Long term lease (15 years) on 2/3 of the building with an established high end day care center

Value add investor opportunity with the lease up of the 3rd floor

Investment income opportunity for an owner/occupier to benefit from

Excellent condition recently constructed (2016) building with high end improvements and fixtures including a playground.

Well located and highly visible property in the Route 3 Rocky Hill trade area

Numerous nearby amenities including shops and restaurants including

Current Tenants

Tenant Business Name Kiddie Academy
SF of Space Occupied 10,500 SF

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Hartford
Tax ID/APN: 12-149
Highway Access: 158 New Britain Ave sits in the middle of two high volume sections of town; one of which being the Berlin Turnpike and the other a combination of Cromwell Ave. and the surrounding area of I-91.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Total Parking Spaces: 45
Passenger Elevators: 1
Sprinklers: Dry

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,215 59,437 171,521
Median Age: 46.04 44.67 41
Households: 2,763 24,646 70,080
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