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Turnkey Manufacturing Facility | Former HQ 650 Franklin Ave 21,473 SF Vacant Industrial Building Online Auction Sale Hartford, CT 06114
INVESTMENT HIGHLIGHTS
- Single-tenant manufacturing facility offers an excellent opportunity for businesses and investors seeking a turnkey, low-maintenance property.
- Broad on-site zoning provides a range of potential future uses, making the property ideal for owners, users, or developers.
- Just a quick drive to retailers and conveniences such as Subway, Modern Pastry Shop, Dollar General, Burger King, NAPA Auto Parts, and others.
- Positioned in Hartford's South End, offering convenient access to Interstate 91, Route 5, and Hartford-Brainard Airport.
- As the capital of Connecticut, Hartford provides a stable place for real estate investment in the Northeast.
- Hartford is bolstered by a strong in-place workforce with over 239,000 employees in a 5-mile radius of 650 Franklin Avenue.
EXECUTIVE SUMMARY
650 Franklin Avenue presents an outstanding investment opportunity in Connecticut’s capital city.
This former manufacturing facility is offered fully vacant and comes with top-notch features. The turnkey building spans 21,473 square feet on a single floor, maximizing usable space. Sitting on a 1.2-acre lot, the property fully optimizes the space available. With 35 parking spaces, there’s ample room for employees and work vehicles. The brick exterior stands out with its attractive white-painted façade and columns designed to impress. Inside, the property offers numerous highlights such as an external dock, 15-foot ceilings, and a warehouse that is both heated and cooled. Interior spaces are divided into an office/showroom area, finished production space, and a dedicated warehouse and shipping zone. Formerly the headquarters of Joseph Merritt & Company, a regional printing firm, the property offers buyers a range of options. It can continue as a printing or manufacturing site or be adapted and reimagined to fit new uses according to the buyer’s vision. Additionally, the property is situated in an Opportunity Zone, allowing buyers to benefit from potential tax incentives.
Strategically located just south of Hartford’s thriving Central Business District, this property offers exceptional positioning. Businesses and tenants will enjoy seamless connectivity to both the city center and the surrounding suburbs, ensuring convenience. Effortless access to major transportation arteries, including Interstates 91 and 84, as well as Routes 2, 5, and 15, provides unmatched mobility throughout the region, further enhancing the property's appeal and value.
Hartford stands out as Connecticut’s largest metro and a noteworthy market for investment. With a population exceeding 1.2 million, robust infrastructure, and a skilled workforce, the city offers reliability and growth potential. Major employers who call Hartford home include Cigna Group, Hartford Financial Services Group, Stanley Black & Decker, Otis Worldwide, Aetna, Pratt & Whitney, ESPN, and Eversource Energy.
Property tours are available by appointment only. Please contact the listing broker to schedule.
This former manufacturing facility is offered fully vacant and comes with top-notch features. The turnkey building spans 21,473 square feet on a single floor, maximizing usable space. Sitting on a 1.2-acre lot, the property fully optimizes the space available. With 35 parking spaces, there’s ample room for employees and work vehicles. The brick exterior stands out with its attractive white-painted façade and columns designed to impress. Inside, the property offers numerous highlights such as an external dock, 15-foot ceilings, and a warehouse that is both heated and cooled. Interior spaces are divided into an office/showroom area, finished production space, and a dedicated warehouse and shipping zone. Formerly the headquarters of Joseph Merritt & Company, a regional printing firm, the property offers buyers a range of options. It can continue as a printing or manufacturing site or be adapted and reimagined to fit new uses according to the buyer’s vision. Additionally, the property is situated in an Opportunity Zone, allowing buyers to benefit from potential tax incentives.
Strategically located just south of Hartford’s thriving Central Business District, this property offers exceptional positioning. Businesses and tenants will enjoy seamless connectivity to both the city center and the surrounding suburbs, ensuring convenience. Effortless access to major transportation arteries, including Interstates 91 and 84, as well as Routes 2, 5, and 15, provides unmatched mobility throughout the region, further enhancing the property's appeal and value.
Hartford stands out as Connecticut’s largest metro and a noteworthy market for investment. With a population exceeding 1.2 million, robust infrastructure, and a skilled workforce, the city offers reliability and growth potential. Major employers who call Hartford home include Cigna Group, Hartford Financial Services Group, Stanley Black & Decker, Otis Worldwide, Aetna, Pratt & Whitney, ESPN, and Eversource Energy.
Property tours are available by appointment only. Please contact the listing broker to schedule.
DATA ROOM Click Here to Access
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | No. Stories | 1 |
| Sale Condition | Auction Sale | Year Built | 1920 |
| Type of Ownership | Fee Simple | Tenancy | Single |
| Property Type | Industrial | No. Dock-High Doors/Loading | 1 |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 1 |
| Building Class | B | Cross Streets | Bolton Street |
| Lot Size | 1.20 AC | Opportunity Zone |
Yes
|
| Rentable Building Area | 21,473 SF | Parcel Number | HTFD-000278-000811-000007 |
| Zoning | B4 | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 1.20 AC |
| Rentable Building Area | 21,473 SF |
| No. Stories | 1 |
| Year Built | 1920 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 1 |
| Cross Streets | Bolton Street |
| Opportunity Zone |
Yes |
| Zoning | B4 |
| Parcel Number | HTFD-000278-000811-000007 |
AMENITIES
- Bus Line
1 1
Walk Score®
Very Walkable (77)
DEMOGRAPHICS
REGIONAL ACCESSIBILITY
CITY
POPULATION
MILES
DRIVE TIME
Boston
694,583
103
2 h 7 m
New York
8,398,748
110
2 h 29 m
Philadelphia
1,584,138
204
4 h 17 m
Baltimore
602,495
301
6 h 11 m
Washington
702,455
336
6 h 58 m
Virginia Beach
450,189
460
9 h 53 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
593,593
Total Labor Force
314,773
Unemployment Rate
4.00%
Median Household Income
$74,287
Warehouse Employees
47,111
High School Education Or Higher
89.10%
SALE ADVISORS
SALE ADVISORS
Ian Hunt, Director
As a member of the investment sales team based in the Hartford office of Colliers International, I bring a thoughtful, cohesive, and modern approach to my clients and their real estate needs. During my tenure at Colliers, I have been involved in the acquisition and disposition, and advisory of all asset classes, primarily retail, industrial and office. More recently, my practice has evolved to focus on single tenant and sale leaseback transactions.
Prior to entering the real estate field with Colliers, I assisted high net worth individuals and institutions navigate the debt and equity markets with Merrill Lynch in New York.
When not tackling tough real estate challenges with my clients, I can be found on the ski hill, in the kitchen or on the grill, and cheering on the Colorado Buffaloes.
Prior to entering the real estate field with Colliers, I assisted high net worth individuals and institutions navigate the debt and equity markets with Merrill Lynch in New York.
When not tackling tough real estate challenges with my clients, I can be found on the ski hill, in the kitchen or on the grill, and cheering on the Colorado Buffaloes.
John Cafasso, CCIM, SIOR, Principal
Mr. Cafasso has exceptional insight into the financial challenges of CT businesses. He has the ability to quickly understand client''''s business models and economic drivers to deliver superior value and cost-effective real estate services based on his several years of experience in public accounting and internal auditing in the CT marketplace. John also led an international import company in overseas operations. He has developed extensive negotiation and sales skills during his travels throughout the world. Domestically, John was responsible for personal sales in excess of 2 million dollars in apparel to major national accounts. Internationally, his responsibilities included managing a Korean based office, surveying factories for production placement, creating cost analyses, and preparing budgets for production goods. He is a native of Connecticut, and brings over 7 years of business experience to the organization. PROFESSIONAL BACKGROUND VP International Operations - Direct Trade Imports, Inc. Internal Auditor - The Hartford Financial Services Group Senior Accountant - Haggett, Longobardi & Company, LLC Education BS in Accounting, University of North Carolina at Charlotte
ABOUT THE AUCTION TECHNOLOGY
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AUCTION CONTACT
Victoria Quade
Contact
Auctioneer License:
Ten-X, Inc. Samantha Corbat RE Brkr REB.0790949
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Turnkey Manufacturing Facility | Former HQ | 650 Franklin Ave
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Turnkey Manufacturing Facility | Former HQ | 650 Franklin Ave
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