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    219 Service Rd Hartford, CT 06120

    Sponsored
    For Sale
    $35,790,000

    High-yield industrial property, strong tenant.

    Property size:
    425,294 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 425,294-square-foot warehouse located at 219 & 239 West Service Road in Hartford, Connecticut. The property boasts a 6.50% cap rate and a substantial net operating income (NOI) of $2,326,350. Currently operating under a single-tenant, absolute NNN lease with a credit tenant, the lease commenced December 1, 2010, and has a remaining term of 10 years, with two 10-year renewal options extending to November 30, 2054. The building, constructed in 1964 and renovated in 1987 and 2009, features a two-story structure with a 36-foot warehouse clear height, situated on a 25.99-acre lot (APN: 305-075-077). The property is zoned ID-1 Industrial and offers below-market rents, making it a highly attractive investment. The offering presents two investment possibilities: a traditional single-tenant net-leased income stream or a zero cash flow investment with assumable financing and a paydown readvance feature. This mission-critical facility, located in central Hartford, benefits from a recession-resistant business and significant tenant investment, representing a value well below replacement cost. The property's 100% occupancy since December 1, 2010, further underscores its stability and potential for long-term returns. The asking price is $35,790,000.

    Property Features for 219 Service Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    425,294 SF
    Lot Size
    1,132,124 SF

    Building Details

    Year Built/Renovated
    1964/1987
    Buildings
    1
    Stories
    2

    HighLights

    • High‑yield, single‑tenant net lease (STNL) investment with credit tenant.
    • Zero cash flow investment opportunity with assumable financing and paydown readvance option.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6565404
    Latitude
    41.795779

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    FAQs

    What type of property is this?
    Distribution property - High-yield industrial property, strong tenant.
    Where is this distribution property located?
    The property is located at 219 Service Rd Hartford, CT.
    What is the asking price?
    The asking price for this property is $35,790,000.
    What are key features of this property?
    This property features: High-yield, single-tenant net lease (STNL) investment with credit tenant.; Zero cash flow investment opportunity with assumable financing and paydown readvance option.;
    Request Owner's contact information
    219 Service Rd Hartford, CT 06120
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    Hartford, CT 06120
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    219 Service Rd Hartford, CT 06120
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