5 Shaws Cv New London, CT 06320

This fee-simple medical office building, located at 5 Shaw's Cove in New London, Connecticut (zip code 06320), presents a compelling investment opportunity. The 37,026 square foot, Class B property sits on a 2.13-acre lot and boasts a strong 85% occupancy rate. Built in 1987, the two-story building comprises 13 units within a single building and features a modified lease structure. The property's prominent tenant, DaVita, occupies a significant portion of the space and holds an investment-grade credit rating. Other tenants include a mix of medical professionals and government agencies, many with long-term occupancy histories. The property benefits from its location within the Shaw's Cove Master Planned office park, offering views of the marina and Thames River. Its proximity to I-95 (with over 57,400 vehicles per day) provides excellent accessibility. The surrounding area shows continued growth, including new residential and retail developments. The local economy is robust, driven by Electric Boat's submarine construction and Pfizer's substantial research and development campus. The net rentable area is 36,621 square feet. The asking price is $5,525,000, representing an 8.10% cap rate. This presents a rare chance to acquire a well-located, multi-tenant medical office building with a strong tenant base and significant upside potential through lease-up opportunities.