318 Main StFarmington, CT 06032

Property Details for 318 Main St

Year built

1966

Property size (Sq ft)

4,196 SF

Zone code

BR

Property type

Office properties

Property subtype

Other office properties

APN

FARM M:0140 B:5B/6-94300318

APU

FARMM0140B5B694300318

Description

This exceptional three-story, free-standing office building at 318 Main Street in Farmington, Connecticut, presents a compelling investment opportunity. Boasting 6,000 square feet of space, the property, built in 1966, offers a beautifully renovated interior, ideal for a variety of uses. Its zoning designation is BR, allowing for flexibility in tenant occupancy. The building's location provides excellent access to major highways, making it easily accessible for employees and clients. Situated in a highly desirable area within a three-mile radius of a population exceeding 89,000, this property benefits from a strong local market. The asking price is $1,050,000. The building's versatility allows for both owner-user occupancy or multi-tenant leasing, presenting significant potential for return on investment. This is a rare opportunity to acquire a well-maintained, strategically located office building in a thriving Connecticut community. The property is comprised of one building with three stories. Further details regarding the specific permitted uses under the BR zoning are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $693,724

  6.5%

  $640,361

  7%

  $594,621

• Comparable approach

  Method

  Valuation

  Relative Method

  $548,249

  Geo Method

  $548,249

• Alternative Use

  Use

  Valuation

  Residential

  $794,047

  Hospitality

  $727,343

  Educational

  $605,141

  Medical

  $625,953

  Retail

  $941,330

Location Insight

City

Farmington

County

Hartford

State

Connecticut

Latitude

41.7053

Longitude

-72.8444

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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