219 Service RdHartford, CT 06120

Property Details for 219 Service Rd

Lot size

0.21 AC

Zone code

ROW

Property type

Commercial land

APN

HTFD M:306 B:075 L:016

APU

HTFDM306B075L016

Description

This exceptional investment opportunity presents a 425,294-square-foot warehouse located at 219 & 239 West Service Road in Hartford, Connecticut. The property boasts a 6.50% cap rate and a substantial net operating income (NOI) of $2,326,350. Currently operating under a single-tenant, absolute NNN lease with a credit tenant, the lease commenced December 1, 2010, and has a remaining term of 10 years, with two 10-year renewal options extending to November 30, 2054. The building, constructed in 1964 and renovated in 1987 and 2009, features a two-story structure with a 36-foot warehouse clear height, situated on a 25.99-acre lot (APN: 305-075-077). The property is zoned ID-1 Industrial and offers below-market rents, making it a highly attractive investment. The offering presents two investment possibilities: a traditional single-tenant net-leased income stream or a zero cash flow investment with assumable financing and a paydown readvance feature. This mission-critical facility, located in central Hartford, benefits from a recession-resistant business and significant tenant investment, representing a value well below replacement cost. The property's 100% occupancy since December 1, 2010, further underscores its stability and potential for long-term returns. The asking price is $35,790,000.

• Alternative Use

  Use

  Valuation

  Residential

  $1,760,681

  Hospitality

  $1,612,774

  Educational

  $1,341,809

  Medical

  $1,387,956

  Retail

  $2,087,259

Location Insight

City

Hartford

County

Hartford

State

Connecticut

Latitude

41.7952

Longitude

-72.6562

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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