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

Property subtype

Other 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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