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699 East Middle Tpke
Manchester, CT 06040
State Leased Office Building · Office Property For Sale
Investment Highlights
- State of Connecticut (Credit) Lease, 25 year occupancy, new 7-year renewal.
- Recent (2025) +/- $350K of owner upgrades and modernization
- Owner prerers to sell both parcels in a single transaction.
- Priced aty 7.28 % Cap based on IN-PLACE NOI of +/- $191,000. Potential for +11% Cap Rate (NOI of +/- $291K) on lease of +/- 6,000 vacant space.
- Opportunity to purchase adjacent +/- 3.5 acre development parcel for $475,000. OM available on request.
Property Facts
Property Type
Office
Property Subtype
Office/Residential
Building Size
25,112 SF
Building Class
B
Year Built/Renovated
1960/2025
Percent Leased
72%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
25,112 SF
Building FAR
0.08
Lot Size
6.95 AC
Zoning
NB - Currently zoned Neighborhood Commercial
Potential for zone change of adjacent +/- 3.5 acres to residential or MF.
Parking
100 Spaces (3.98 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | MANC-000122-003950-000699 | Improvements Assessment | $851,100 |
| Land Assessment | $394,700 | Total Assessment | $1,245,800 |
Property Taxes
Parcel Number
MANC-000122-003950-000699
Land Assessment
$394,700
Improvements Assessment
$851,100
Total Assessment
$1,245,800
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