70 Essex RdWestbrook, CT 06498

Property Details for 70 Essex Rd

Year built

1986

Construction

FRAME

Property size (Sq ft)

6,424 SF

Zone code

CTC

Property type

Office properties

APN

WBRO M:177 L:004

APU

WBROM177L004

Description

This well-maintained, three-level office building offers 6,424 square feet of space in a highly desirable downtown Westbrook location. The building features an elevator servicing all three floors and benefits from excellent accessibility, situated near I-95, Route 9, Route 1, the Westbrook Train Station, and the Westbrook Outlets. This property is being offered for sale at $795,000 and must be purchased in conjunction with the adjacent commercial condominium listed under MLS 2403708. A larger acquisition opportunity exists, encompassing a total of 2.08 acres and four buildings totaling 24,894 square feet, including this property and the property located at 36 Westbrook Place (MLS 24047234). This combined parcel presents a significant investment opportunity. The building is also available for lease at a rate of $12.50 per square foot, triple net (NNN). The half-acre lot provides ample space and convenient access. This is an exceptional opportunity for businesses seeking a prominent location with excellent transportation links and nearby amenities. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,062,079

  6.5%

  $980,381

  7%

  $910,354

• Comparable approach

  Method

  Valuation

  Relative Method

  $839,360

  Geo Method

  $839,360

• Alternative Use

  Use

  Valuation

  Residential

  $1,215,672

  Hospitality

  $1,113,549

  Educational

  $926,460

  Medical

  $958,322

  Retail

  $1,441,160

Location Insight

City

Westbrook

County

Middlesex

State

Connecticut

Latitude

41.2868

Longitude

-72.4477

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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