Investment Opportunity 5-Building Suburban Office Park

Office for Sale
Catylist Listing ID: 30341951
Property Subtypes: Business Park
Building Size (RSF): 59,614 SF
Gross Building Area: 62,000 SF
Gross Land Area: 12.76 Acres
Sale Price: $6,600,000
Unit Price: $110.71 PSF
Property Use Type: Investment
Building Name: Farmington Mountain Office Park
Class of Space: Class B
Usable Size (USF): 59,614 SF
Sale Terms: Other
Cap Rate: 8.71%
Average Occupancy Rate: 94
Last Updated: 10/26/2018

Overview / Comments

O,R&L Commercial presents Farmington Mountain Office Park for Lease. This high quality corporate office park consists of 61,077 SF spread out over five 2 story buildings located at 10-50 Stanford Drive in Farmington, CT. Existing suites range from 1,252 SF to 3,546 SF. The 12.76 acre site can also accommodate a new 10,000 SF build-to-suite office building. The site is located within a quiet corporate campus environment just of I-84 at Exit 38 and has ample parking which is expandable. Current tenants include: Cisco Systems, Reliance Insurance, and Gentiva Healthcare.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $111,156 (Annual)
Assessed Value - Total($) $4,166,260 (Annual)
Net Operating Income $574,543 (Annual)

Current Tenants

Tenant Business Name Cisco Systems
Tenant Business Name Reliance Insurance
Tenant Business Name Kindred Healthcare

Additional Details

Nearest MSA: Hartford-West Hartford-East Hartford
County: Hartford
Zoning: PR
Property Visibility: Fair
Highway Access: I-84 Exit 38 to Rt. 6
Site Description: Located within a quiet corporate campus environment just off I-84.
Total Number of Buildings: 5
Number of Stories: 2
Typical SF / Floor: 5,000 SF
Year Built: 1987
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 160
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Baseboard, Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,294 73,500 215,938
Median Age: 38.56 37.8 39.89
Households: 1,255 29,098 87,044

Contact

Photograph of Listing Agent

Robert G Gaucher

O,R&L Commercial, LLC Not a member of CTCList
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