1 Circular Ave
Hamden, CT 06514
Hamden Bank and Trust Building · Office Property For Sale

Constructed in 1926, this neoclassical building stands proudly as a symbol of Hamden's early 20th century expansion, and represents an astounding example of classical revival architecture. The style is a resurrection of the columns, entablatures decorations, and archways found in ancient Greek and Roman buildings. According to the inventory of buildings kept by the Connecticut Historical Commission, the style was often used for early 20th century public buildings and banks, and has connotations of tradition, serious purpose, and substantiality. The building saw an addition in the mid-twentieth century, which added the North Wing. This area is a 2-story office zone with 2 private entrances on either side of the building, and comes with a soundproof, fully equipped 5-section broadcasting studio, a server room, a break room, and a private executive bathroom with shower, among other features. AT&T owns a 30 year lease agreement for a cellular tower located on the roof, structured as a 5 year agreement with 5 options to extend. The agreement is currently in year 15, with annual increases of 3%, representing the gross income figure of $35,004. The net present value of these cash flows is approximately $688,000. This commercial office asset represents a rare and valuable opportunity for an investor. Call me if you want to visit the property.