15,000 SF Industrial near Bradley International Airport

Industrial for Sale
Catylist Listing ID: 30323695
Property Subtypes: Flex Space, Light Industrial
Building Size (RSF): 15,200 SF
Gross Land Area: 0.97 Acres
Sale Price: $725,000
Unit Price: $47.70 PSF
Ceiling: 14 ft.
Docks/Doors: 1 Dock, 2 Doors
Office SF: 1,720 SF
Drive In Bays: 1 Bay
Property Use Type: Vacant/Owner-User
Building Name: Accurate Welding
Usable Size (USF): 15,200 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/19/2018

Overview / Comments

A 15,200 square foot modern industrial flex building with an attractive appearance and is ideal for a variety of uses. Consisting of a one-story masonry and steel structure. Featuring finished lavatories, loading dock and two drive-in OHD's. Fully air-conditioned. Can be split to allow for two separate tenant spaces.

Located in the Bradley Airport Development Zone.

The Bradley Airport Development Zone extends enterprise zone tax incentives to manufacturers and other specified businesses that develop or acquire property in the zone and create jobs.

Across from Bradley International Airport. Location is just off CT 75 and the Airport Connector (Rt 20), conveniet to I-91 and midway between Hartford and Springfield. The airport industrial area is between UPS & FedEx facilities with mixed use along Rt 75.

A business qualifies for BADZ's the tax incentives if it acquires an idle facility or constructs, substantially renovates, or expands one and uses the facility for specified uses. Eligible uses include:

Manufacturing; Performing research and development directly related to manufacturing; Significantly servicing, overhauling, or rebuilding machinery and equipment for industrial uses.

Warehousing and motor freight distribution uses qualify for the incentives, but only if they handle goods shipped by air. Business services, including information technology, also qualify for incentives if the Department of Economic and Community Development (DECD) commissioner determines they depend upon or relate directly to the airport.

Newly constructed, renovated, or expanded facilities qualify for an exemption based on the value of the improvement. The exemption equals 80% of improvement's assessed value and it is good for five years. Acquired facilities qualify for the same exemption, but it is based on the assessed value of the acquired section. This exemption is also good for five years. Businesses developing or acquiring a facility in the BADZ also qualify for a five-year, 80% exemption on assessed value of machinery and equipment it installs in the facility as part of its development or acquisition.

Businesses that qualify for the property tax exemptions also qualify for a 10-year corporation business tax credit equal to the portion of the tax attributable to the facility. (The law specifies how businesses must calculate that amount.) The credit equals 25% of the tax.

Additional Details

Nearest MSA: Hartford-West Hartford-East Hartford
County: Hartford
Taxing Authority: Windsor Locks
Tax ID/APN: 87
Zoning: IND1
Property Located Between: Ella Grasso
Highway Access: I-91, CT RT 20, CT RT 75
Airports: Bradley International Airport
Site Description: Level site with parking
Area Description: Located in a well maintained light industrial area.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 15,200 SF
Property Condition: Excellent
Year Built: 1970
Roof Type: Gable
Construction/Siding: Metal Siding, Steel Frame
Exterior Description: Attractive and modern light industrial building.
Parking Type: Surface
Parking Description: Onsite parking front of the building.
Amps: 1,000
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Lighting: Fluorescent
Internet Access: Cable
Interior Description: Well maintained and clean.
Zoning Description: Industrial
Lot Frontage: 260
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,459 21,530 69,962
Median Age: 43.68 42.42 42.13
Households: 973 7,934 27,452

Contact

Photograph of Listing Agent

Frank Amodio, CCIM

Amodio & Co Real Estate CTCList Member
Photograph of Listing Agent

Eric Amodio, CCIM

Amodio & Co Real Estate CTCList Member
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