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943 North Rd 4,368 SF 100% Leased Office Building Groton, CT 06340 $595,000 ($136.22/SF) 8.86% Cap Rate

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EXECUTIVE SUMMARY

Excellent cash flow with long-term tenants, no deferred maintenance, 8.86% cap rate. Located on Route 117 in Groton, less than a mile from I95, Exit 88. 943 North Rd is a 4,368 SF wood-framed office building with 19 off-street parking spaces. Fully leased with four tenants. Close to Electric Boat, Pfizer, Naval Sub Base. Zoning is IM (industrial, mixed-use). The building was renovated inside and out in 2014 with a new roof, HVAC, electric, etc. Private bathrooms for each office tenant.

943 North - income & rent roll

PROPERTY FACTS Under Contract

Sale Type

Investment

Property Type

Office

Property Subtype

Office/Residential

Building Size

4,368 SF

Building Class

Year Built/Renovated

1986/2013

Price

$595,000

Price Per SF

$136.22

Cap Rate

8.86%

NOI

$52,717

Percent Leased

100%

Tenancy

Multiple

Building Height

3 Stories

Typical Floor Size

1,456 SF

Slab To Slab

9’

Building FAR

0.06

Lot Size

1.72 AC

Zoning

IM - Industrial, Mixed-Use

Parking

23 Spaces (4.58 Spaces per 1,000 SF Leased)

Central Heating

Air Conditioning

MAJOR TENANTS

-
500 SF
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-

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