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2434 Berlin Tpke
Newington, CT 06111
O'Neil Plaza · Retail Property For Sale
Investment Highlights
- 85.4% Leased with 3-Suites Vacant (4,874 SF Available)
- Diversified Rent Roll with Retail and Office suites on all 4 sides of the building. Amazing Value-Add opportunity for this unanchored strip center
- 17 of 18 In-Place Tenants have no options & Less than 5 years of control remaining. 37%+ are below market In-Place Rents
Executive Summary
Introducing O'Neil Plaza, a prime investment opportunity located at 2434 Berlin Turnpike in Newington, Connecticut. With 41,833 RSF of unanchored strip center space, this property offers significant value-add potential, making it an exclusive asset for savvy investors. Strategically situated along the bustling Berlin Turnpike with high traffic volume and access to major highways like I-84 and I-91, O'Neil Plaza enjoys a prominent retail position within Greater Hartford. The property's location boasts exceptional visibility, positioning it as a desirable retail destination for both locals and travelers. With most tenants holding short remaining lease terms, there is a promising opportunity for immediate value appreciation through lease optimization and rent adjustments. Don't miss out on this exciting chance to enhance your investment portfolio with O'Neil Plaza.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
41,833 SF
Building Class
B
Year Built/Renovated
1945/1985
Price
$4,340,000
Price Per SF
$103.75
Cap Rate
5.03%
NOI
$218,217
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
8.85 AC
Zoning
B-BT
Parking
221 Spaces (5.28 Spaces per 1,000 SF Leased)
Frontage
480’ on Berlin Tpke
Amenities
- Bus Line
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | NEWI-000018-000021 | Improvements Assessment | $1,376,700 |
| Land Assessment | $829,850 | Total Assessment | $2,206,550 |
Property Taxes
Parcel Number
NEWI-000018-000021
Land Assessment
$829,850
Improvements Assessment
$1,376,700
Total Assessment
$2,206,550
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