For Sale
$600,000

21 Furnace StKillingly, CT 06239

High-yield retail storefront, prime location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A, 4,150 square foot retail storefront at 21 Furnace Street in Killingly, CT, presents a compelling owner-user opportunity. Currently boasting 100% occupancy with two tenants, the property generates a strong NOI of $33,289, representing a 5.55% cap rate. However, with below-market rents and upcoming lease renewals in February 2025, a significant pro-forma NOI of $73,889 and a 12.31% cap rate are projected. Built in 1900 and renovated in 2011, this two-story building features stunning woodwork, 16-foot ceilings, new windows, and a unique design, making it one of the most recognizable commercial properties in Connecticut. The property includes a large reception area, front, side, and rear entrances, a private loft office, and a full bathroom. Conveniently located in the heart of downtown Danielson's Central Business District (CBD), it benefits from high year-round vehicle and pedestrian traffic and ample free public parking (70+ spaces). The 0.06-acre lot offers significant potential for a variety of uses, including a dispensary, liquor store, restaurant, coffee shop, or specialty store. The asking price is $600,000. The upper level (2,280 sq ft) is available for lease.

Highlights

  • 2,280 SF of space available for lease on the top floor in downtown Danielson at 21 Furnace Street.
  • Owner-user opportunity with immediate cash flow from the lower level's existing tenants.
  • Low operating costs due to gas-fueled central air and a low mill rate.
  • Features stunning woodwork, 16-foot ceilings, and new windows.

Property Details for 21 Furnace St

Property type
Retail properties, Retail space
Square Feet
4,150 SF
Class
A
Year Built/Renovated
1900/2011
Stories
2
Lot Size (sq. ft)
2,614 SF
Units
2

Location Insight

City
Killingly
County
Windham
State
Connecticut
Latitude
41.8041617
Longitude
-71.8839302
21 Furnace St, Killingly, Connecticut

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21 Furnace St
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