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22318770
22318793

17 N Washington St, Plainville, CT 06062

DQ
REB.0793239
Great Estates CT
Listed by Great Estates CT
$1,550,000
443 days on market
Updated 17 days ago

17 N Washington

Details
APN 25-F-29
Property Type Industrial
Sub Type Flex, Manufacturing (+1)
Square Footage 38,352
Net Rentable (SqFt) 32,675
Units 7
Cap Rate 7.83%
NOI $121,364
Occupancy 87.5%
Tenancy Multi
Lease Term 5
Lease Expiration 03/18/2030
Remaining Term 3.8
Pro-Forma Cap Rate 9.37%
Pro-Forma NOI $145,279
Price per SqFt $40
Broker Co-Op Yes
Class B
Year Built 1910
Year Renovated 1960
Buildings 1
Stories 2
Acreage 2.520
Zoning GI
Investment Type Stabilized
Lease Commencement 03/18/2025
Occupancy Date 03/18/2025
Ceiling Height 12
Loading Docks 1
Dock High Doors 2
Ownership Fee Simple
Sale Condition Sale for leaseback

Industrial | 9.50% CAP | 38,352 SF

Marketing description

This 38,000 square foot industrial building is presented as a seller-leaseback. The current owner requires the lease of the entire building for a period of at least 7 years. The seller is willing to manage the building for less than typical management fees. The building earns an annual income at $142K. There is a brand new freight elevator available as well as a ground floor overhead door for the ground level unit. The three-floors of industrial space have ample parking in the rear and provides the tenants with two additional, large overhead doors and a loading dock at the front of the building. New gas heating system has been installed by seller. Great income producing building in a great location near Route 84 to Hartford (20 minutes), New Britain (10 minutes), Waterbury (20 minutes).

Investment highlights

Attractive lease-back from current owner to include ongoing building management. Excellent investor opportunity.

Listing Contacts

DQ
REB.0793239
Great Estates CT
Listed by Great Estates CT

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$121,364.00
$10,113.67/mo

Valuation Metrics

0
DSCR
7.83%
Cap Rate
7.83%
ROI

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