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1166 Farmington Ave 8,546 SF 100% Leased Office Building Berlin, CT 06037 $2,650,000 ($310.09/SF) 6.42% Cap Rate
Investment Highlights
- Fully occupied by Starling Physicians Group under a recently signed NNN lease.
- Offers strong roadside visibility and a large on-site parking lot supporting tenant operations.
- Affiliation with an extensive healthcare network ensures tenant stability and consistent occupancy.
- Located on a signalized intersection along Farmington Avenue with excellent local connectivity.
- Situated close to Route 9, providing direct access to I-91 and greater Hartford metro.
- Features a well-maintained, attractive medical office facility suitable for specialized use.
Executive Summary
A rare chance to own a fully leased medical office building anchored by one of New
England's most trusted healthcare names. Starling Physicians Eye Center occupies the
building under a newly signed five-year NNN lease with multiple option periods,
delivering a 6.4 cap rate and dependable, hands-off income from day one.
The property sits in a prime position on Farmington Avenue, holding down a corner
location at a lighted intersection with a large parking lot. Visibility, access, and
convenience all work in the owner's favor, and they work for the tenant too.
Starling Physicians is a leading physician-owned multispecialty medical group
operating over 30 locations across Connecticut. The practice features more than 300
healthcare providers delivering coordinated care across 27 distinct medical specialties.
Central administrative offices are located in Rocky Hill, CT, while major clinical facilities
are situated in New Britain, Wethersfield, Avon, Berlin and Newington.
For investors looking to add stability backed by an industry leader, 1166 Farmington
Avenue is the opportunity to act on and brings a credit-quality tenant to your portfolio.
England's most trusted healthcare names. Starling Physicians Eye Center occupies the
building under a newly signed five-year NNN lease with multiple option periods,
delivering a 6.4 cap rate and dependable, hands-off income from day one.
The property sits in a prime position on Farmington Avenue, holding down a corner
location at a lighted intersection with a large parking lot. Visibility, access, and
convenience all work in the owner's favor, and they work for the tenant too.
Starling Physicians is a leading physician-owned multispecialty medical group
operating over 30 locations across Connecticut. The practice features more than 300
healthcare providers delivering coordinated care across 27 distinct medical specialties.
Central administrative offices are located in Rocky Hill, CT, while major clinical facilities
are situated in New Britain, Wethersfield, Avon, Berlin and Newington.
For investors looking to add stability backed by an industry leader, 1166 Farmington
Avenue is the opportunity to act on and brings a credit-quality tenant to your portfolio.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
8,546 SF
Building Class
A
Year Built
2012
Price
$2,650,000
Price Per SF
$310.09
Cap Rate
6.42%
NOI
$170,130
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,546 SF
Building FAR
0.21
Lot Size
0.92 AC
Zoning
CCD-2 - CCD-2
Parking
120 Spaces (10 Spaces per 1,000 SF Leased)
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | BERL-000094-000094-000002 | Improvements Assessment | $1,294,400 |
| Land Assessment | $227,900 | Total Assessment | $1,522,300 |
Property Taxes
Parcel Number
BERL-000094-000094-000002
Land Assessment
$227,900
Improvements Assessment
$1,294,400
Total Assessment
$1,522,300
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