631 Farmington Ave, Hartford, CT 06105

$1,550,000
25,298
SqFt

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List Price
$1,550,000
Status
ACTIVE UNDER CONTRACT
MLS#
24160127
Price Change
▼ $50,000 1779565355
Year Built
1960
Acres
0.78
Living Area
25,298
Neighborhood
N/A

Property Description

Attention investors! This turnkey commercial office building presents an excellent opportunity for those looking to expand their portfolio with stabilized rental income. Fully leased until 2030 with two long term tenants. Larger unit has occupied the building 35+ years, and the second tenant has been there 15+ years. Leases increase annually by 2.5%. Close to West Hartford, this property is situated in Hartford's West End, with easy highway access and public transit. Substantial upgrades include energy efficient lighting, new fire alarm system, new RTU systems, new water heater (2026), 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. With minimal owner responsibility, this property would be ideal for a 1031 exchange, those looking to add to their commercial portfolio, or for the newer investor looking to get into commercial real estate. Detailed expense sheet available upon request.

Additional Information

Taxes
$65,211
Lot Size
33,976
Heating
Hot Air
Cooling System Type
Central Air
Water Source
Public
Parking Spaces
50

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Calculator source: Real Geeks

Listing courtesy of Stephanie Ossowski from Dave Jones Realty, LLC. (860) 336-9290 (203) 758-0264

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