1023-1031 Blue Hills AveBloomfield, CT 06002

This exceptional mixed-use property, located at 1023-1031 Blue Hills Ave in Bloomfield, Connecticut, presents a compelling value-add investment opportunity. The 7,515 square foot plaza comprises three buildings on a high-traffic corner (13,900 vehicles daily), boasting 100% occupancy with seven tenants including a restaurant, shopping center, and storefront spaces. Currently generating a NOI of $43,675, with a pro-forma NOI projected at $100,000, this property offers a significant upside potential. The existing tenants include World Fish Market, Paradise Restaurant, Hir We Go Studios, a Real Estate Office, Hills N Park Barbour, World Fish and Seafood, and a one-bedroom apartment. Built in 1970, the property features 60 parking spaces and benefits from a gross lease structure. Recent improvements include an updated AC unit and a new roof above the apartment. The property is zoned GWB and offers potential for expansion. The asking price is $1,499,900, representing a current cap rate of 2.91% and a pro-forma cap rate of 6.67%. Its prime location, minutes from Highway 91 and surrounded by residential areas, ensures consistent foot traffic and strong rental income. This is a rare opportunity to acquire a well-established, multi-tenant property with significant upside potential in a desirable Connecticut location. The property's strong tenant base and recent improvements minimize maintenance needs, ensuring a reliable income stream for the foreseeable future. The potential for expansion further enhances the long-term value proposition.