Listed by Goman York
$3,146,000
Barnard Lane Portfolio
Details
Property Type Office
Sub Type Medical Office
Square Footage 19,633
Units 10
Cap Rate 7.00%
NOI $232,196
Occupancy 100%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Pro-Forma NOI $236,196
Class B
Year Built 1977
Year Renovated 2021
Buildings 2
Acreage 2.160
Investment Type Core+
1 Barnard Ln, Bloomfield, CT 06002
Marketing description
Goman+York Property Advisors is pleased to present the Barnard Lane Medical Office Portfolio, comprising 705 Bloomfield Avenue and 1 Barnard Lane—a fully occupied, 19,633 SF medical and professional office portfolio in Bloomfield, Connecticut. The assets generated approximately $434,435 in annual gross income in 2025 and are projected to generate an NOI of ~$236,196 in 2027, supported by a long‑standing medical tenant base with tenures ranging from 4 to 22 years and an average of 9.1 years. Durable healthcare uses, below‑market rents, and clear near‑term mark‑to‑market potential further position the portfolio as a compelling, income‑producing investment with meaningful upside.
Together, 705 Bloomfield Avenue and 1 Barnard Lane represent a stable, healthcare‑oriented investment with embedded upside, characterized by 100% occupancy, an 85% medical tenant mix, resilient construction, and a clear trajectory for NOI growth through rent re‑setting. The offering is ideally suited for private investors, and capital groups seeking dependable cash flow backed by long‑term medical tenancy and future appreciation potential.
The Barnard Portfolio has benefited from Long‑term, stable ownership for the past 29 years, providing exceptional continuity and stewardship. The properties Weighted Average Lease Term (WALT) is roughly 3.5 years as of April 2026, driven by recent renewals and staggered expirations extending through 2031. This lease profile provides both income stability and near‑term mark‑to‑market potential as legacy tenants—many in occupancy for more than a decade—roll to current medical office rent levels.
In‑place rents ranging from $19.50 to $23.50 per square foot remain below prevailing market rates, offering a clear path to organic revenue growth without requiring significant capital investment. Several tenants hold contractual renewal options, and scheduled rent adjustments—including increases effective in late 2026—further enhance near‑term income performance.
Constructed with durable brick façades and configured with medical buildouts—including exam rooms, reception areas, and clinical support spaces—the buildings are purpose‑built for healthcare users and minimize downtime during tenant transitions. Both properties have also benefited from comprehensive gut renovation —One Barnard in 2004 and 705 Bloomfield in 2014 and 2021—which included new HVAC systems, elevators, windows, and other major upgrades that enhance long‑term performance and tenant appeal. The sites offer ample on‑site parking, strong visibility, and convenient access to surrounding residential neighborhoods and complementary commercial uses, reinforcing their position as a stable suburban medical office destination. With 100% occupancy, an 85% medical tenant mix, and embedded rent‑reset opportunities, the portfolio delivers durable cash flow and future appreciation potential for private investors, owner‑users, and healthcare‑focused capital groups.
1 Barnard Lane and 705 Bloomfield Avenue are strategically positioned in the center of Bloomfield, Connecticut, a mature suburban community located minutes north of Hartford. The town serves as a key medical and professional services hub for the Greater Hartford region, supported by strong demographics, excellent regional connectivity, and proximity to major employment centers. The properties benefit from immediate access to leading healthcare anchors—Trinity Health and Hartford Hospital —both of which operate significant facilities less than a half‑mile from the site.
The properties benefit from immediate access to leading healthcare anchors—Trinity Health and Hartford Hospital—both of which operate significant facilities less than a half‑mile from the site. The properties benefit from a highly central location near Bloomfield’s civic core, with close proximity to Town Hall, municipal offices, and public buildings, including the town’s newly developed library and community facilities. This concentration of civic investment reinforces the area’s role as a focal point for daily activity and long‑term community growth, enhancing visibility and convenience for medical practices and professional users.
Both buildings enjoy exceptional regional connectivity. The sites are located just off Route 305 (Cottage Grove Road) and Route 189 (Bloomfield Avenue), providing direct access to Interstate 91, Interstate 291, and the broader regional highway network. This accessibility allows patients, staff, and providers to reach the properties easily from Bloomfield, Windsor, West Hartford, Hartford, and surrounding communities.
The immediate area features a strong mix of established commercial uses, retail amenities, and recent residential development, including new and redeveloped housing that supports continued demand for healthcare and professional services. Nearby retail destinations such as Wintonbury Mall, along with grocery, pharmacy, dining, and service‑oriented retailers, further enhance convenience for tenants and visitors.
Bloomfield’s stable residential base, combined with proximity to major employers such as Cigna, The Hartford, and Kaman Corporation, supports sustained demand for outpatient medical and office services. Ongoing public and private investment in infrastructure, civic buildings, and residential development further reinforces the town’s appeal as a long‑term location for healthcare and professional tenants.
Together, 1 Barnard Lane and 705 Bloomfield Avenue offer a centrally located, highly accessible, and amenity‑rich setting ideally suited for medical office users seeking a strong presence in the Greater Hartford market.
Investment highlights
- Long‑term, stable ownership: The property has been held by the same owner for 29 years, providing exceptional continuity and stewardship.
- 100% Occupied Medical Office Investment
- Two well‑located commercial buildings totaling approximately 19,633 SF, plus 9,333 SF of basement space, fully leased to a diverse tenant base.
- Medical‑Focused Tenancy (≈85%) with an average tenure of 9.1 years
- Majority of tenants consist of physician practices and healthcare providers, offering needs‑based, recession‑resistant occupancy.
- Strong In‑Place Cash Flow
- Combined projected 2027 Net Operating Income of approximately $236,196, supported by an established. operating history and approx. $4,000 in rent bumps in 2026/2027
- ~3.5‑year WALT as of April 22, 2026, with staggered lease expirations through 2031, limiting rollover risk while preserving flexibility.
- Below‑Market Rents Provide Future Upside: Several in‑place leases, particularly long‑term medical tenants, are below prevailing market rental rates, creating meaningful organic NOI growth potential upon rollover or renewal.
- Traditional commercial construction with brick façades, well‑suited for long‑term medical and professional office use.
- Suites configured with exam rooms, reception areas, consultation offices, and support spaces, reducing downtime and re‑tenanting costs.
- Convenient and ample (6.6/100 ratio) parking and efficient ingress/egress support patient traffic and staff operations.
- Strategic Bloomfield Avenue Location
- Positioned along a primary commercial corridor with strong visibility, surrounding residential density, and complementary medical uses.
- Resilient Suburban Healthcare Asset
- Ideal for investors seeking stable income, downside protection, and long‑term rent growth in the suburban Greater Hartford market.
Listing Contacts
Listed by Goman York
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$232,196.00
$19,349.67/mo
Valuation Metrics
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DSCR
7.38%
Cap Rate
7.38%
ROI
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