898 Silas Deane HwyWethersfield, CT 06109

Property Details for 898 Silas Deane Hwy

Year built

1967

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.83 AC

Property size (Sq ft)

9,916 SF

Zone code

RC

Property type

Retail space

APN

WETH M:227 B:002

APU

WETHM227B002

Description

This exceptional 18,434 square foot shopping center, located at 898 Silas Deane Highway in Wethersfield, Connecticut (zip code 06109), presents a compelling investment opportunity. The property, a two-story, multi-tenant retail plaza, boasts five units currently operating at 100% occupancy, generating a strong cash flow. Built in 1967 and extensively renovated in 2022, this Class A retail space features a brand new roof and updated mechanical systems, minimizing future maintenance needs and maximizing passive income potential. The stabilized investment, categorized as a value-add opportunity, is offered at $1,975,000, translating to a price per square foot of $107.14. Leases are structured on a gross basis, simplifying management. Situated in Hartford County, this property benefits from its high-traffic location on Silas Deane Highway, ensuring consistent visibility and accessibility for tenants and customers. The recent 100% lease-up demonstrates the strong demand for retail space in this desirable area. This is an ideal investment for those seeking a low-maintenance, high-return property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,409,934

  6.5%

  $2,224,554

  7%

  $2,065,658

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,264,974

  Geo Method

  $3,264,974

• Alternative Use

  Use

  Valuation

  Residential

  $1,876,495

  Hospitality

  $1,718,859

  Educational

  $1,430,071

  Medical

  $1,479,253

  Retail

  $2,224,554

Location Insight

City

Wethersfield

County

Hartford

State

Connecticut

Latitude

41.6989

Longitude

-72.658

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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