Office Investment: Plainville, CT 7.5% Cap, $1.325M

· Investment, Office


7.5% Cap Rate

146 New Britain Avenue, Plainville, CT

Amodio & Co. Real Estate is pleased to offer for your consideration 146 New Britain Avenue, a fully leased multi tenant office investment located in Plainville, Connecticut. Built in 1985 by the current owner, the property is being offered for the first time since construction!

This offering is ideal for a true hands-off or out of state investor. The property has been meticulously maintained since it was built with zero deferred maintenance. The property has also enjoyed very little turnover in tenancy due to quality ownership and management, as well as the geographic proximity to major highways, shopping, restaurants, gas stations and more! The anchor tenant, PSA Healthcare, occupies the entire first floor (5,000 SF) and has recently renewed for an additional five year term. As part of their renewal, the space was refreshed with new carpeting and paint. The remaining tenants have a very high likelihood of renewal as they have expressed interest in remaining at the property. The owner will remain on-site in the rear shop (outbuilding) following the sale, providing on-going assistance to tenants and oversight of the property.

All leases are modified gross. Tenants are billed their pro-rata share of all utilities (water, sewer, gas, electric) on a monthly basis as the bills are received.

146 New Britain Avenue, Plainville is located in the center of Connecticut, with direct access to all major highways including Interstates 84 & 91, and Routes 72 & 91.