1834 Silas Deane HwyRocky Hill, CT 06067

Property Details for 1834 Silas Deane Hwy

Year built

1960

Property size (Sq ft)

3,528 SF

Zone code

C

Property type

Office properties

Property subtype

Other office properties

APN

ROCK M:04 L:411 U:A

APU

ROCKM04L411UA

Description

This exceptional mixed-use property, located at 1834 Silas Deane Highway in Rocky Hill, Connecticut, presents a rare investment opportunity in a thriving commercial corridor. The 4,509 square foot building, a three-story Class B condo, offers a diverse range of spaces ideal for owner-users or investors seeking strong rental income. Currently boasting a 50% occupancy rate with three tenants, the property features a modified lease structure and is projected to be fully occupied by February 28, 2024. The building's layout includes approximately 1,209 square feet on the lower level, 1,550 square feet plus an additional 650 square feet in the rear on the first floor, and 1,100 square feet on the second floor. Previously a successful multi-service salon, this versatile space is suitable for a variety of creative office, executive office, and storefront uses. Benefitting from excellent highway access via I-91, Exit 24, the property enjoys high visibility with over 20,000 cars passing daily, providing ample opportunity for signage and brand exposure. Significant upgrades include two new HVAC units installed within the last five years. The asking price is $425,000, translating to $94.26 per square foot. The property is zoned for commercial use and includes three gas pumps. This is a truly unique opportunity to acquire a well-located, income-producing asset in a highly desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $583,284

  6.5%

  $538,416

  7%

  $499,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,968

  Geo Method

  $460,968

• Alternative Use

  Use

  Valuation

  Residential

  $667,636

  Hospitality

  $611,551

  Educational

  $508,803

  Medical

  $526,301

  Retail

  $791,471

Location Insight

City

Rocky Hill

County

Hartford

State

Connecticut

Latitude

41.6764

Longitude

-72.649

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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