Listed by NAI Plotkin
$299,000
34 Sumner Avenue
Details
Property Type Retail, Office
Sub Type Traditional Office
Square Footage 2,710
Units 48
Cap Rate 8.00%
Lease Type Modified
Lease Expiration 11/29/2027
Rent Bumps Yes
Class B
Year Renovated 2023
Buildings 1
Lease Commencement 11/30/2024
Ownership Condo Interest
Retail | 8.00% CAP | 2,710 SqFt
Marketing description
2,710 SF ready for Office, Retail or Medical. Currently configured with 5 offices, reception/waiting area, kitchen, 2 bathrooms, and storage area. Professionally managed and well-maintained private condominium building with 48 residential units. Common areas fully-renovated in 2023. First floor, ground-level space with dedicated private entrance and direct street access. Lots of windows and natural lighting. Located in historic Forest Park neighborhood. Easy highway access (.8 miles to I-91). High traffic location, on a bus route. Dedicated reserved parking in private parking lot with garage parking available.
Located in historic Forest Park neighborhood. Easy highway access (.8 miles to I-91). High traffic location on a bus route.
Investment highlights
- 2,710 SF Commercial Office/Retail Unit
- New 36-Month Lease with a National Professional Childhood Education Tenant
- Located Directly Across from Sumner Avenue Elementary & Preschool in the Historic Forest Park Neighborhood
- Currently Configured with 5 Offices, Reception and Waiting Area, Kitchen/Break Room, 2 Bathrooms, and Storage Area
- 3 Deeded Parking Garage Units plus Private Parking Lot with Dedicated Reserved Tenant Parking
- Professionally Managed and Well-Maintained Private Condominium Building with 48 Residential Units, Common Areas Fully-Renovated in 2023
- First Floor, Ground-Level Space with Dedicated Private Entrance and Direct Street Access, Lots of Windows and Natural Lighting
- Easy Highway Access (.8 miles to I-91)
- High Traffic Location / On Bus Route
- Rent Year - 1 $17.71 SF (Modified Gross)
- Escalations 4% Annually
Listing Contacts
Listed by NAI Plotkin
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