This 14,122 sq ft industrial building in Newington, CT, is net leased to Ferguson, a credit-worthy tenant with a long-term lease (expiring 7/31/2030, with a 5-year option). Situated on a 4.77-acre lot in a dense retail corridor near major national retailers, the property boasts a 7% cap rate and a strong NOI of $188,760. Built in 1985 with recent HVAC upgrades (2023), the building features 22' eaves, 18.6' clear height, three grade-level drive-in docks, and two flush loading docks. The property offers significant upside potential with a rent bump in 2030 ($16,675/month). The affluent demographics (median household income over $93,000) and Ferguson's long history at this location (nearly 25 years) contribute to the property's exceptional investment value. This fee-simple ownership opportunity provides a stable income stream with a modified NNN lease structure and a corporate guarantee. The property's size and location make it an attractive investment for those seeking long-term returns in a thriving market. The building also includes approximately 5,482 square feet of office space and ample parking (25 spaces, 1.77 parking ratio). The property is zoned PD.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$1,635,026
Hospitality
$1,497,675
Educational
$1,246,048
Medical
$1,288,902
Retail
$1,938,297
Location Insight
City
Newington
County
Hartford
State
Connecticut
Latitude
41.6564
Longitude
-72.7222
CBSA code
25540
CBSA name
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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