1-3 Mill Pond Ln 17,312 SF 100% Leased Office Building Simsbury, CT 06070 $1,300,000 ($75.09/SF) 8.80% Cap Rate

INVESTMENT HIGHLIGHTS

  • Pre-approved to build to build 30 Units in the back of the Property.
  • Convenient kitchen facilities and a welcoming reception area enhance the functionality of your workspace.
  • Brand New Remodeled Spaces: Enjoy the benefits of newly remodeled office spaces with modern amenities and updates.

EXECUTIVE SUMMARY

- The property is over 17,312 SF and features 12 commercial units.
- 100% Percent Rented.
- 24-Hour Access: Enjoy the flexibility of accessing your office space at any time.
- Kitchen and Reception Areas: Convenient kitchen facilities and a welcoming reception area enhance the functionality of your workspace.
- Partitioned Offices: Multiple partitioned offices provide privacy and efficient space utilization.
- Central Heating: Maintain a warm and comfortable environment during the colder months.
- Fully Carpeted: The entire office space is carpeted for a polished and quiet atmosphere.
- High Ceilings: The high ceilings create a spacious and open feel.
- Air-Conditioning: Stay cool and comfortable during the summer with efficient air-conditioning systems.
- Brand New Remodeled Spaces: Enjoy the benefits of newly remodeled office spaces with modern amenities and updates.
- Propane Heating and Cooling (converted from oil)
- New Heating Systems
- 13 Year Old Roof
- 50 Parking Spaces Zoning: 1-1 Fully Occupied
- Pre-approved to build to build 30 Units in the back of the Property.
- 12.5 Miles from Bradley International Airport Owner Paid Utilities (Gross Leases)

ATTACHMENTS

1-3 Milpond Lane Offering Memorandum (1)
1 & 3 Mill Pond Lane Study-2-2
1-3 Mill Pond Income Expenses 12.13.24

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
17,312 SF
Building Class
B
Year Built
1983
Price
$1,300,000
Price Per SF
$75.09
Cap Rate
8.80%
NOI
$114,400
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
17,312 SF
Slab To Slab
11’
Building FAR
0.10
Lot Size
4.00 AC
Zoning
I-2 - Intended for medium industrial uses.
Parking
29 Spaces (1.68 Spaces per 1,000 SF Leased)

AMENITIES

  • 24 Hour Access
  • Kitchen
  • Reception
  • Central Heating
  • Fully Carpeted
  • High Ceilings
  • Partitioned Offices
  • Air Conditioning

PROPERTY TAXES

  • Listing ID: 34134431

  • Date on Market: 12/9/2024

  • Last Updated:

  • Address: 1-3 Mill Pond Ln, Simsbury, CT 06070